Cryptocurrencies Forecast 2024: Here’s What to Expect in the Coming Months
If you have been interested in the crypto market, you must be asking yourself a lot of questions about cryptocurrencies: predictions and trends in 2024 might be the focus of your thoughts at this time of year!
What should we expect in the coming months? Is it worth investing in Bitcoin and cryptocurrencies? If so, on which platforms and which cryptocurrencies?
In this guide, we will discover all the tips and opinions related to investing in cryptos, allowing you to make the most of your portfolio, whether you’re saving up or spending it in your everyday life. After all, crypto isn’t just about investing; there’s a whole lot more to this ballgame than that, and many people don’t realize it when they first launch into the world of cryptocurrency.
Many people want to know what you can do with cryptocurrency, and the answer is, there are tons of different options out there! Many online stores are starting to open up and accept crypto as a spending option, and there are even some mundane places such as grocery stores that will take it! However, a lot of people don’t want to just spend their valuable crypto; they want a chance to grow it… and if that’s the case for you, a crypto casino might be the place to explore.
There are games galore and a great many options; multiple casinos have started offering this functionality because it has so many advantages for players, including anonymity and ease of payment regardless of where the player is located (for an online casino, which may have international players, that’s particularly important). Could you win big prizes at a crypto casino? Quite possibly! Some offer prize pools – meaning you might have the chance to fatten up your digital wallet. If you’re thinking of visiting a crypto casino, you’re far from alone, but first things first! We totally wouldn’t recommend this until you’ve got a decent understanding of how cryptocurrencies work. With that in mind, let’s check out the landscape of investing so you can decide what’s right for you.
2023: What’s Already Gone
2023 was a pretty positive year for cryptocurrencies, especially Bitcoin; its market value went from about $15,000 to $40,000. Other cryptocurrencies, such as Avalanche and Chain Link, also closed positive. This resurgence is a good sign that cryptocurrencies are going to be on the up and up in the coming months and years. That’s coupled with their increasing acceptance at places like online casinos – which can only be a sign that they’re becoming much more mainstream, and therefore more valuable.
What Does The Market Look Like For 2024?
If you’re a savvy investor, you’re probably keen to learn more about the performance of this market! Currently, the volume in the digital market is high. According to analysts, it will be an interesting year, and it could even be the year of halving: this is an event that usually happens every 4 years, and it is considered very positive for the price of Bitcoin, as it helps to contract the supply. It is a phenomenon that has frequently bumped up the price of Bitcoin, and made it a more valuable asset for places like casinos to trade in.
The role of major corporations
According to other analysts, in the coming months we will see the role of Bitcoin and other cryptocurrencies grow: the prediction is that they will be increasingly adopted institutionally, as we’re already seeing in some places!
We’ve already discussed the casinos, and we expect to see more and more coming on board, but it’s also no secret that to date, several other companies have opened their doors to cryptocurrencies: in 2020, PayPal announced the inclusion of a service for BTC trading, and there’s also the possibility of using Dogecoin for some gadgets made by Tesla.
It’s also thought that someday, virtual tokens could be used to pay taxes or employees’ salaries, although there are doubts about the merits of such an operation. Obviously, decisions along these lines would impact market performance and forecasts.
Let us dwell for a moment on Bitcoin: analysts’ estimates predict that its value should rise to $29,095, before closing the year at $26,844. The forecast appears to be even higher for 2025: $77,492. We are talking about really big numbers here! However, other analysts are more cautious: they argue that the allocation in Bitcoin will not be that high, precisely because of the rising cost of living and a particularly difficult economic environment.
Cryptocurrency ETFs: how will things change?
Cryptocurrency ETFs are funds that replicate stock market indexes. Opting for an ETF gives the investor a very wide choice and the opportunity to use passive management. Let’s take a look at the VanEck Crypto and Blockchain Innovators UCITS ETF. This is a fund that benchmarks the MVIS Global Digital Assets Equity index, which replicates companies around the world that are active in the blockchain industry.
We are looking at a very recent small fund of 21 million since it was launched in April 2021. The fund has a physical replication method and no currency hedging. It is domiciled in Ireland, and its dividend policy is accumulation, meaning funds are reinvested. The management cost is 0.65 percent per year.
However, the risk profile is 7: this is a very volatile market, not suitable for faint hearts. Crypto operates differently from classic financial markets; remember to invest prudently and don’t make a start without studying the big picture. And if you’re using your cryptocurrency in casinos, make sure you always wager strategically, with the odds in your favor!
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