Cryptocurrency is definitely an unpredictable industry, which can switch in any direction at any moment. However, it still does not mean that we cannot prepare for possible changes. GBC Time has collected the top 5 predictions for the cryptocurrency market in 2024.
Traders and investors always make efforts to keep up with the crypto changes and possible troubles in the future. If you want to know if 2024 weather is a promising year for cryptocurrency or not, read the expert predictions below.
Ethereum vs Bitcoin: Who will be the leader?
These days, such crypto coins as Bitcoin and Ethereum are familiar to everyone. It has always been a huge competition between these giants for leadership in the market. However, 2024 may become quite successful for Ethereum. The ETH coin is expected to grow and even surpass the BTC coin.
It may seem unbelievable, because of the current ETH market value of -0.02%, while the BTC is stably 0.30%. The experts insist that it may be one of the rarest economic phenomena, which may surprise the whole world.
ETH will be able to surpass BTC for a short amount of time, but even this small achievement is able to upside down the whole industry.
2024 – the end of the meme-coins?
Crypto coins based on memes were always surprisingly stable, considering the fact that nobody saw any perspective. Mentioning the top meme coins such as Dogecoin and Shiba Inu, the only thing that comes to mind is an unexpected success. However, 2024 may a year of unstable position in the market.
In 2024, these coins flew up to their maximum growth of 121 000 000% like Shiba Inu. But since that, the crypto coin has been falling by 90%. Therefore, the experts see an even faster fall in the market value in the nearest future.
Another crypto exchange network will fall
Some experts expect one of the biggest crypto exchange networks to fall by the end of 2024. FTX has obviously been going through some trouble times since the company filed for bankruptcy protection in November.
After this news blow the Internet the FTX Token rapidly fall to -0.06%. From a trusted exchange network to a bankrupt platform, which almost has no chance to recover.
El Salvador will put their experiment aside
In 2022, El Salvador quite surprised the whole world with its unexpected decision to legalize Bitcoin as the national currency. It was the first case when a country implemented crypto in its economy. However, now some of the experts do not see this idea as bright and promising as it was in the beginning.
Talking of the dominant fundament for such a prediction, the first thing first is the inability of a significant part of the country to use at least traditional financial services. When it comes to crypto, a major part of citizens do not even consider it as an option.
Another influencing factor is the Bitcoin falling, which may drive the crypto-focused economy of El Salvador down.
