Bitcoin ETF

Bitcoin

Donald Trump

Rise

Source: DALL·E 
<p>VanEck, a prominent investment management firm, has released a set of 15 <a href="https://cryptonews.com/news/best-crypto-to-buy-now-december-6-helium-celestia-avalanche.htm">cryptocurrency</a> <a href="https://www.vaneck.com/us/en/blogs/digital-assets/matthew-sigel-vanecks-15-crypto-predictions-for-2024/">predictions for the year 2024</a>, casting a spotlight on potential significant developments in the digital asset space.</p> 
<p>The firm’s report offers a detailed outlook, highlighting key predictions such as the <a href="https://cryptonews.com/news/sec-delays-decision-on-grayscales-spot-ethereum-etf-until-january-2024.htm">anticipated launch</a> of the first U.S. spot <a href="https://cryptonews.com/news/bitcoin-price-targets-50000-as-crypto-bull-run-explodes-and-btc-cloud-mining-token-bitcoin-minetrix-pumps-to-5m.htm">Bitcoin</a> exchange-traded fund (ETF) in the first quarter and a projected record high for Bitcoin prices in the fourth quarter. The report also projects an upsurge in <a href="https://cryptonews.com/news/heres-why-gamers-are-splurging-on-square-enixs-quirky-nft-characters.htm">NFT</a> activities and a possible shift in <a href="https://cryptonews.com/news/binance-withdraws-application-for-abu-dhabi-license-reassessing-compliance-needs.htm">Binance</a>‘s dominance in spot trading.</p> 
<h2 id="bitcoin-etfs-and-historical-high-price">Bitcoin ETFs and Historical High Price</h2> 
<p><br> VanEck predicts the eventual launch of the first U.S. <a href="https://cryptonews.com/news/blackrock-and-bitwise-update-bitcoin-etf-filings-with-sec.htm">spot Bitcoin ETFs</a> in 2024, coinciding with an expected U.S. recession. They project substantial inflows into these ETFs, exceeding $2.4 billion in the first quarter, potentially stabilizing Bitcoin prices above $30,000.</p> 
<p>Drawing on historical analogies with the SPDR Gold Shares (GLD) ETF, VanEck estimates initial inflows of around $1 billion shortly after the ETFs’ launch, increasing to $2.4 billion within a quarter. Over the first two years, they anticipate a surge in inflows up to $40.4 billion, driven by Bitcoin’s appeal as an alternative to traditional hard money assets and a reduction in transaction costs compared to current retail trading fees, such as Coinbase’s transaction fee of roughly 2.5%.</p> <a href="https://cryptonews.com/wp-content/uploads/2023/12/1702024171-bitcoin-2024.svg"></a>Source: VanEck 
<p>VanEck also anticipates a significant surge in Bitcoin’s value in late 2024. They predict Bitcoin will reach an all-time high on Nov. 9, fueled by political changes, specifically citing the potential election of <a href="https://cryptonews.com/news/former-us-president-donald-trump-holds-around-500000-digital-assets.htm">Donald Trump</a> as a catalyst for a more favorable regulatory environment in the U.S. This forecast aligns with historical patterns of Bitcoin’s price peaking exactly three years apart, as observed in 2017 and 2020.</p> 
<h2 id="nft-market-regains-volume">NFT Market Regains Volume</h2> 
<p><br> The NFT market is poised for a significant rebound, with monthly sales volumes expected to reach new record highs. This resurgence is attributed to a renewed interest in crypto, focusing on prominent NFT collections on <a href="https://cryptonews.com/news/ethereum-price-prediction-as-bull-run-continues-beyond-2200-is-a-10000-eth-possible-in-2024.htm">Ethereum</a>, enhanced crypto games, and innovative Bitcoin-based NFTs.</p> 
<p lang="en" dir="ltr">Prediction #6: NFT activity will rebound to an all-time high with Ethereum leading and Bitcoin gaining traction via the Ordinals protocol, shifting the ETH-to-BTC NFT issuance ratio to 3-1 by the end of 2024.</p> 
<p>— VanEck (@vaneck_us) <a href="https://twitter.com/vaneck_us/status/1732811847076573388?ref_src=twsrc%5Etfw">December 7, 2023</a></p>  
<p>The introduction of Bitcoin’s <a href="https://cryptonews.com/news/bitcoin-core-v26-0-released-v27-could-terminate-bitcoin-ordinals.htm">Ordinals</a> protocol and the development of Bitcoin’s layer 2 chains are projected to revitalize Bitcoin network fees and shift the NFT market dynamics. As a result, the dominance of Ethereum in primary NFT sales, which has been at a nearly 50-1 ratio compared to Bitcoin, is forecasted to narrow considerably, ending 2024 with a ratio closer to 3-1.</p> 
<h2 id="binance-to-descend-more-to-rise">Binance to Descend, More to Rise</h2> 
<p><br> A major shift in the ranking of centralized crypto exchanges may also come in 2024, with Binance expected to lose its top spot due to its $4 billion settlement with U.S. regulators. Emerging competitors like <a href="https://cryptonews.com/news/okx-and-bybit-capitalize-as-binances-market-share-declines-more-news.htm">OKX</a>, <a href="https://cryptonews.com/news/okx-and-bybit-capitalize-as-binances-market-share-declines-more-news.htm">Bybit</a>, <a href="https://cryptonews.com/news/coinbase-report-heres-how-stablecoins-are-revolutionizing-the-financial-system.htm">Coinbase</a>, and <a href="https://cryptonews.com/news/crypto-exchange-bitget-to-cease-operations-in-hong-kong-whats-going-on.htm">Bitget</a> are likely to run for the lead. Specifically, Coinbase’s international futures market is projected to experience a significant surge in daily trading volumes.</p>

Bitcoin ETF in Q1 and Bitcoin Price All-Time High in Q4: VanEck Predictions 2024

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