In Wall Street lingo, they say, “Go with the flow.” The same holds true in the crypto world, where catching onto big trends could mean spotting fresh investment chances and unlocking wealth. Here are three massive crypto trends to keep an eye on in 2024.
Bitcoin Takes the Spotlight Sure, Bitcoin’s no stranger to the limelight, especially among younger investors. Surveys back in 2022 showed that more than half of Gen Z and millennial investors had already dipped their toes into cryptocurrency. But 2024 might mark its real debut into the mainstream, thanks to the first-ever spot Bitcoin ETF hitting the U.S. market.
This ETF has got everyone buzzing. Some big Bitcoin believers even call it the most crucial Wall Street product in three decades. Predictions suggest it could trigger a whopping influx of $25 billion or more into crypto, potentially bumping up Bitcoin’s price.
No more fussing with crypto exchanges or wallets—buying Bitcoin could soon be as simple as any other ETF. This move might just change the game for Bitcoin in the long run.
The Bitcoin Halving Buzz The next big thing on the Bitcoin horizon? The highly anticipated Bitcoin halving, slated for April 2024. Happening once every four years, this event cuts the rewards for Bitcoin miners in half, slowing down the growth of Bitcoin supply.
This halving has historically sparked major bull markets for crypto in previous cycles. Experts, like Morgan Stanley, reckon this cycle could last anywhere from a year to a year and a half. They liken investing at this point to planting seeds in the right season—if you miss the window, growth might never reach its full potential.
While Bitcoin usually takes the spotlight, this new cycle could boost other cryptos too. Sometimes, these other players end up outperforming Bitcoin.
The Emergence of Fresh Digital Assets Another key trend? The rise of brand-new digital assets. These assets, born from the same blockchain tech as traditional cryptocurrencies, come with unique properties that catch investors’ eyes. Remember when NFTs and virtual real estate in the metaverse made headlines?
In 2023, it was Bitcoin Ordinals that stole the show, tagged as “the next big thing in crypto” by Forbes. These are a special type of NFT made exclusively for the Bitcoin blockchain, trading just like NFTs. They’ve become so hot that their trading volumes surpass even the most popular NFTs.
But hold on, this is just the beginning. There’s a mega-trend in the making called “asset tokenization.” Imagine turning real-world assets—stocks, art, you name it—into digital assets living on the blockchain. Some say this could become a whopping $10 trillion market.
Playing the Long Game Remember, it’s about the marathon, not the sprint. Sometimes what seems like a lasting trend might fizzle out, and the opposite can also happen. Back in the day, many dismissed Bitcoin as a fad, yet here we are.
The key isn’t timing the market but understanding how these trends shape up over time. Long-term investing focuses on these significant trends that build wealth—setting you on the path to financial success.
