Quick
Take
At
the
end
of
2023,
VanEck
made
15
ambitious
predictions
for
the
digital
assets
market
in
2024.
Here’s
a
look
at
how
some
of
these
predictions
have
fared
so
far.
1.
The
US
Recession
and
the
First
Spot
Bitcoin
ETPs
Prediction:
The
US
would
enter
a
recession
in
the
first
half
of
2024,
and
the
first
spot
Bitcoin
ETPs
would
launch
with
significant
inflows,
keeping
Bitcoin
above
$30,000.
While
the
US
recession
has
yet
to
materialize,
the
inverted
yield
curve,
the
longest
bond
market
inversion
in
history,
remains
a
strong
recessionary
signal,
according
to
VanEck.
Meanwhile,
Bitcoin
ETFs
have
shattered
records,
with
$14.5
billion
in
inflows
keeping
Bitcoin’s
price
above
$30,000.
Bitcoin
has
mostly
traded
above
$60,000
since
March,
with
few
exceptions.
2.
Bitcoin Halving
Prediction:
The
Bitcoin
halving
in
April
2024
would
proceed
without
major
issues,
with
Bitcoin
trading
above
$48,000
after
the
event.
Another
accurate
prediction
was
the
smooth
Bitcoin
halving
in
April
2024.
Post-halving,
Bitcoin
has
not
fallen
below
$55,000.
The
event
also
marked
the
launch
of
Runes,
which
set
new
records
for
BTC
fees
and
initiated
the
current
miner
capitulation
phase.
3.
Bitcoin’s
All-Time
High
in Q4
Prediction:
Bitcoin
will
reach
an
all-time
high
in
Q4
2024,
driven
by
political
changes
and
regulatory optimism.
VanEck
also
foresaw
Bitcoin
reaching
an
all-time
high
in
Q4
2024,
driven
by
political
changes
and
regulatory
optimism.
Although
BTC
hit
its
peak
earlier,
in
March,
the
forecast
was
directionally
accurate.
4.
Ethereum
Won’t
Flip
Bitcoin
in
2024
Prediction:
Ethereum
would
not
surpass
Bitcoin
in
market
cap
but
outperform
mega-cap
tech stocks.
Additionally,
VanEck
correctly
predicted
that
Ethereum
would
not
surpass
Bitcoin
in
market
cap
but
would
outperform
major
tech
stocks,
which
has
been
the
case.
One
of
the
tech
companies
not
included
was
NVIDIA,
which
is
up
155%
year-to-date
(YTD)
and
190%
over
the
past
12
months.
At
one
point,
NVIDIA
even
became
the
largest
company
in
the
world.
Overall,
VanEck’s
predictions
scored
an
impressive
95
out
of
150
possible
points,
demonstrating
the
firm’s
deep
insight
into
the
rapidly
changing
crypto
market.
Go to Source
Author: James Van Straten