December has been a hectic month for crypto investors, with significant signals for the future emerging from SEC discussions, macro data, and more. The recent PCE data and Elon Musk’s indifferent stance on Bitcoin have reignited the sleepless nights of the past for many investors.
As we approach 2024, expert opinions shed light on what to expect, from ETF approvals to stablecoins and regulations. Bivu Das, Kraken’s UK General Manager, anticipates a demand surge in the UK, driven by milestones like Bitcoin’s next halving and Ethereum‘s upgrades.
In the UK, regulatory clarity is expected to emerge next year, with Das suggesting the country will be significantly closer to becoming a global crypto hub by the end of 2024. This clarity, according to Das, will level the playing field for UK-based firms against overseas competitors.
John Wu, President of Ava Labs, predicts that stablecoin transaction volumes will surpass Visa by 2024 and foresees a 50% price increase following the approval of a spot Bitcoin ETF. He also expects NFTs to be widely adopted in areas like customer loyalty programs.
Dr. Friederike Ernst of Gnosis believes 2024 will be revolutionary for Web3 products focused on user experience, with hybrid Web2/Web3 structures becoming more prevalent. She emphasizes the need to translate research and proofs of concept into real user experience improvements.
Lars Seier Christensen from Concordium is less optimistic, cautioning against predictable scenarios like halving and ETF approvals leading to a new bull market. He suggests that the crypto market might still surprise us with unexpected deviations.
Sunny Lu, CEO of VeChain, agrees that regulatory progress, influenced by MiCA, will be seen next year, with events like halving and ETF approvals pushing the market upwards. Diogo Mónica of Anchorage Digital expects institutional investors to become a major driving force in the bull market for the first time next year.