With 2024 just around the corner, the world of cryptocurrencies is at a crucial point. After a 2023 marked by ups and downs, predictions for the new year generate both hope and caution.
2023 has been a year of consolidation for cryptocurrencies, with significant advances and unexpected setbacks—such as the Binance scandal—after the harsh crypto winter of past years. Now, the big question is: What does 2024 have in store for Bitcoin and Ethereum?
Cryptocurrencies, once seen as a mere curiosity, have become a major player in the global financial landscape and their turning point may be 2024.
Thanks to the expected 50% halving in Bitcoin – the process by which the number of bitcoins reaching miners is reduced by half – which will arrive around April. The price could go up a lot.
In this sense, according to Bitwise InvestmentsBitcoin could reach new highs, surpassing $80,000. Additionally, Bitcoin ETFs are expected to receive approval, marking a milestone in the history of cryptocurrency investments.
What will happen to Ethereum in 2024?
Regarding Ethereum, Michaël van de Poppe of Fineball anticipates a significant increase in its value. Cautious traders could take advantage of declines near $1,800 and $1,900, hoping for a rebound to between $3,100 and $3,600, he says.
Thus, the general consensus among experts points to an optimistic 2024 for cryptocurrencies. The possible approval of the Bitcoin ETF and the planned halving event could significantly boost the market.