2024

Bitcoin

<div class="finbold">
 <p class="paragraph">Brad Garlinghouse, the CEO of blockchain startup Ripple, is predicting a massive year for the cryptocurrency market, with a potential doubling of its total market capitalization to $5 trillion by the end of 2024.</p>
 <p class="paragraph">Garlinghouse attributed this anticipated surge to several macro factors, including the introduction of the first U.S. spot Bitcoin (BTC) exchange-traded funds (ETF) and the impending Bitcoin “halving” event, according to a <em>CNBC </em>report on April 8.</p>
 <h2 class="wp-block-heading" id="h-crypto-market-doubling-on-etf-surge-and-bitcoin-halving">Crypto market doubling on ETF surge and Bitcoin halving</h2>
 <p class="paragraph">Emphasizing the significance of institutional investment inflow into the <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a>, Garlinghouse highlighted the interplay between rising demand and diminishing supply as a key driver of potential price escalation, stating:</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
    </path>
   </svg> Picks for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Machine learning algorithm sets Solana price for April 30, 2024 <span class="self-center text-xs text-slate-500">1 hour ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    We asked Google Gemini if a global economic crash will occur in 2024 <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    NiceHash to host a Bitcoin conference in Maribor to celebrate 10 years of <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> advancements <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Crypto expert Ali Martinez forecasts $85,000 Bitcoin target incoming <span class="self-center text-xs text-slate-500">3 hours ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“You’re seeing that drives demand, and at the same time demand is increasing, supply is decreasing,” Garlinghouse said. “That doesn’t take an economics major to tell you what happens when supply contracts and demand expands.”</p>
 </blockquote>
 <p class="paragraph">The approval of the first U.S. spot Bitcoin ETFs by the Securities and Exchange Commission (SEC) on January 10, marked a pivotal moment for the market. These ETFs, which trade on U.S. stock exchanges, enable both institutional and retail investors to gain exposure to Bitcoin without direct ownership of the underlying asset.&nbsp;</p>
 <p class="paragraph">Additionally, the forthcoming Bitcoin halving event, which occurs approximately every four years, is expected to further tighten supply dynamics.</p>
 <h2 class="wp-block-heading" id="h-market-poised-for-growth">Market poised for growth</h2>
 <p class="paragraph">As of April 4, the total crypto market capitalization stood at approximately $2.6 trillion.&nbsp;</p>
 <p class="paragraph">Garlinghouse’s projection of a doubling in market capitalization to $5.2 trillion signifies the substantial growth potential he envisages within the industry.&nbsp;</p>
 <p class="paragraph">This translates to a potential injection of over $2.6 <a rel="noopener noreferrer nofollow" title="trillion" href="https://thebittimes.com/tag/trillion.html">trillion</a> of new capital, fundamentally altering the <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> landscape.</p>
 <h2 class="wp-block-heading" id="h-bitcoin-s-influence-and-market-dynamics">Bitcoin’s influence and market dynamics</h2>
 <p class="paragraph">Bitcoin remains the dominant force in the cryptocurrency market, accounting for nearly half of its total value with a market capitalization exceeding $1.3 trillion as of April 1.&nbsp;</p>
 <p class="paragraph">The rise and fall of Bitcoin often sets the tone for the broader <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a>, and a significant price increase for Bitcoin could have a ripple effect across other <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies.</p>
 <p class="paragraph">Garlinghouse’s optimistic forecast resonates with other industry experts’ sentiments.&nbsp;</p>
 <p class="paragraph">Marshall Beard, COO of U.S. crypto exchange Gemini, also anticipates a significant rise in Bitcoin’s price to $150,000 later this year.&nbsp;</p>
 <p class="paragraph">Beard cited various factors such as increased adoption, regulatory developments, and supply constraints as contributing factors to this potential rally, stating:</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“You’re going to see violent moves up and down until that new all-time high, which I think will be $150,000,” Beard added. “It probably happens this year. I think it moves so fast … and I think that momentum, the supply shock, it moves crazy quickly.”</p>
 </blockquote>
 <h2 class="wp-block-heading" id="h-crypto-market-primed-for-transformation">Crypto market primed for transformation</h2>
 <p class="paragraph">The cryptocurrency market seems poised for a pivotal year of change. A confluence of factors, including the arrival of ETFs, the upcoming Bitcoin halving, and potential regulatory shifts, is creating a scenario ripe for significant growth.&nbsp;</p>
 <p class="paragraph">As Ripple CEO Brad Garlinghouse predicts, a doubling of the market capitalization to $5 trillion by year-end is a distinct possibility.</p>
 <p class="paragraph">However, fueled by the inherent volatility of the crypto space, unforeseen events or sudden market movements could disrupt this optimistic outlook.&nbsp;</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ripple-ceo-predicts-crypto-market-will-hit-5-trillion-by-end-of-2024-tbt84827.html">https://thebittimes.com/ripple-ceo-predicts-crypto-market-will-hit-5-trillion-by-end-of-2024-tbt84827.html</a></p>

Ripple CEO predicts crypto market will hit $5 trillion by end of 2024

Table of Contents

TheBitTimes

Alte articole publicate pe 8 apr. 2024

Nervos Network Price Prediction: CKB Is Top Weekly Gainer With 45% Surge As Traders Turn To This ...

FTX Founder Sam Bankman-Fried Gets 25-Year Sentence for Fraud

On-Chain Metrics Suggest Shiba Inu (SHIB) Price Is Set to Soar by 42%

Altcoins Hotlist: Expert Identifies Top 6 Coins To Track Amid Bitcoin’s Rise To $72,000

Top Cryptocurrency to Buy Now April 8 – Bittensor, Fantom, Flare

Ripple’s XRP USD Stablecoin Launch: Analyst Says “This Changes Everything”

Join our free newsletter for daily crypto updates!