Experts predict that 2024 will be bullish for Coinbase and Ethereum but negative for Binance.
The use of cryptocurrencies has grown in popularity in recent years. Due to the excellent rates of return, many people are interested in buying cryptocurrency even though it is often considered a risky investment sector. As we approach the new year, investors are actively looking for ways to improve their portfolios and increase their rate of return on investment. Experts have already published their cryptocurrency forecasts for 2024. What they’re saying is as follows:
Binance is set to drop from its top spot in spot trading
Binance’s trading value increased when Sam Bankman-Fried’s FTX collapsed in November last year. On the other hand, 2024 is predicted by New York-based investment management firm VanEck to be a pessimistic year for Binance.
According to their X, formerly Twitter post, “Binance will lose the #1 position for spot trading, with competitors like OKX, Bybit, Coinbase, and Bitget contending for leadership. Coinbase’s futures market may exceed $1 billion daily as regulated index inclusion becomes key.”
Ethereum continues to be one of the most well-liked cryptocurrency options for investors. As per Bitwise’s 2024 cryptocurrency forecast on X, Ethereum is expected to generate over 2.5 times its present revenue. In line with Ryan Rasmussen’s essay on the platform, “As users flock to crypto applications, Ethereum revenue will more than 2x to $5b.” ~ customers will pay $2.3b in fees to use Ethereum in 2023. We predict that by 2024, it will have grown by at least two times, making Ethereum one of the largest and fastest-growing tech platforms globally.
Revenue from Coinbase will double
An American publicly listed business called Coinbase runs a platform for exchanging cryptocurrencies. Regarding trade volume, it is the biggest cryptocurrency exchange in the US. Experts predict that its sales will almost quadruple.
Ryan Rasmussen predicts that Coinbase’s revenue will treble and surpass Wall Street estimates by a factor of at least ten. We anticipate that Coinbase’s trade volumes will rise as they have in the past during bull markets. Additionally, a variety of innovative goods that they have introduced are gaining popularity.
Bitcoin might be worth up to $25,000,000
As of right now, Bitcoin is the most well-known and valuable cryptocurrency. Experts predict that by 2024, its worth will have increased to a quarter of a million dollars. In an interview with Coin Bureau, venture capitalist Tim Draper stated, “I would say that my number $250,000 will probably come pretty soon, so I’ll stick with $250,000.” In fact, it will rise far above $250,000 if it does.
It was asserted by another expert on X, who was once on Twitter. “With everything on the table coming in 2024, it’s hard to imagine Bitcoin under $250,000.” is the tweet from the Bitcoin Therapist. There is no doubt in this room that this is a once-in-a-lifetime opportunity. Everyone else will be able to purchase Bitcoin at a fair price.
