Analyst: 2024 is the year crypto explodes

Analyst: 2024 is the year crypto explodes

A YouTube analyst from the Crypto Capital Venture channel poses several arguments for bullish sentiment in 2024 in a new video.

The analyst opens the video by reflecting on the resilience and growth of the market despite challenges like FTX’s collapse, the bankruptcy of 3AC, and the SEC suing Coinbase and Binance, all of which should’ve led to crypto failing but didn’t.

“Bitcoin has just been putting in higher highs and higher lows on the macro,” said the analyst. “Zoomed out, the cycles are continuing just like clockwork.”

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The analyst cites several bullish indicators, including 2024 being the year of the next Bitcoin halving event and January holding weight due to the spot Bitcoin ETF potentially being days from receiving approval. This development is believed to change the crypto space for good.

The analyst relates that this announcement will open up the door to significant liquidity for Bitcoin and the altcoin market, as suggested by BlackRock’s filing for a spot Ethereum ETF.

The analyst believes that even without the developments around spot Bitcoin ETFs, the market would look very different from what it currently does.

Alongside these announcements, the analyst highlights that the market is still waiting for a major decision on the Coinbase-SEC case, with oral arguments being weeks away. Although speculation, Crypto Capital Venture suggests the judge is likely to be fair with these dealings, while one of the world’s largest crypto exchanges is likely to highlight that Congress is the real authority.

With this backdrop, Crypto Capital Venture shares his excitement for the next year and predicts a $10 trillion market cap for crypto this bull cycle, with $4 trillion attributed to Bitcoin (BTC).

Read more: VanEck files updated spot Bitcoin ETF application

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