The Future of Crypto in 2024?

As we have entered 2024, everyone’s starting to predict what might happen in the cryptocurrency world. But is there anything that we know for sure about the future of crypto in 2024?

None at all. Everything is speculation and market research, that’s all.

You know how the whole thing works. People try to guess where the market’s headed, but let’s be honest, they’re often way off. That to especially after the year 2022, which came with many unpredictable events.

But even if the guesses are off the mark, digging into market trends and key players is always a good workout for the brain. So, buckle up; let’s chat about what might unfold in this year’s crypto scene.

Things to Happen in 2024 in the Crypto World

Let’s look at some of the things analysts have predicted might happen in 2024. These can either be good or bad, so stay tuned to learn what they are.

1. Bitcoin Will Reach $60,000 or More

Price predictions are usually the first thing that happens for a token at the start of the year, depending on the market sentiment. According to a recent interview, some analysts said that Bitcoin could surpass $100,000 during the upcoming bull run, which we definitely don’t know when it’s going to arrive. But it still sounds a little too much, don’t you think?

While, on the more conservative side, there’s a prediction that Bitcoin might reach around $60,000 in 2024. It won’t be its all-time high value but this prediction still suggests a substantial recovery for the crypto sector.

It is essential to note that as institutional players increasingly enter the scene, the erratic value swings observed since 2016 may become less acceptable. This shift marks a departure from the days when Bitcoin was the go-to asset for retail and non-traditional investors.

2. U.S. Banks Will Embrace Tokenized Payments

U.S. banks and many others have always been against cryptocurrency because they have the power to replace the entire banking system. So, what’s a simple solution for this? That banks start to accept these tokens as value, or else it could be difficult for them in the long run.

Predicting the rise of tokenized payments in 2024 is a bit like connecting the dots – It’s bound to happen. Some of the world’s most prominent financial players, like J.P. Morgan, have already hopped on the bandwagon, rolling out tokenized payments on enterprise blockchains.

Payment processors are also joining the party, with PayPal leading the pack. They’ve been in the crypto game since 2014 and are stepping up their crypto products and services.

For crypto enthusiasts, the idea of tokenized payments has always made sense. As the big financial guns realize the perks, it’s a safe bet that adoption and implementation will keep trucking.

3. Crypto Gaming Will Grow

Blockchain games, or crypto gaming, started with the CryptoKitties project in 2017. But the concept didn’t get much hype until the 2021 bull run when gaming projects like Axie Infinity, Decentraland, and The Sandbox started to gain attention.

People who play games also know about in-game purchases, which allow gamers to buy anything like an avatar, a new outfit, or a weapon via cryptocurrency. The games use the whmcs bitcoin module to handle all the payments, ensuring it is accessible, transparent, and secure for all gamers.

Using cryptocurrency for in-game purchases provides a simple and secure way for players to enhance their gaming experience with digital items and upgrades.

The crypto market has already seen the craze of crypto games in the form of Play-to-Earn games in the last couple of years. These are developed on the blockchain network and will also allow users to earn while playing, which makes it even more attractive to the users.

4. Emergence of New “Stablecoins”

Circle (USDC) and Tether (USDT) are the top two stablecoins with a circulating value of over $115 billion. Analysts think that in 2024, companies will try to replicate the success of these coins and create a new one. Of course, the new one won’t be able to be as successful as USDC and USDT very soon, but it could be worth a shot.

The new developers might want to use different ways to offer a unique value to the customers. They could use alternative collaterals to back their stablecoin, like currencies, commodities, or government debt.

The company could also offer extra incentives to users, such as passing on yield generated by collateral. These would definitely attract a huge number of traders.

If the companies succeed in providing a unique value to the traders, the new projects could gather a lot of hype and compete with well-established stablecoins. But all this is just a prediction, only time will tell if this will ever come true.

Summing Up

This article only mentioned four of the many predictions that have been made by expert analysts. The crypto market started 2024 with good trading volume but hasn’t been able to sustain it for long enough because of multiple news surrounding the market, like the Bitcoin ETF approval and more.

Only time will tell what will happen precisely in this unpredictable and highly volatile market.