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Here Are Two Massive Reasons Why 2024 Will Be Next Big Year for Crypto

Thu, 06/16/2022 - 10:20
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Arman Shirinyan
There are only so many things that may cause reversal on cryptocurrency market, and here they are
Here Are Two Massive Reasons Why 2024 Will Be Next Big Year for Crypto
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The 2021 bullrun was the biggest "level up" for the cryptocurrency industry since it faced massive $2 trillion market capitalization growth while Bitcoin reached a previously unseen price of $69,000.

Unfortunately, the party on the cryptocurrency market ended quite rapidly as BTC and other digital assets have lost around 70% of their value since the last ATH and came close to the previous all-time high of $19,200.

After losing a massive part of its value, the sentiment on the cryptocurrency market switched from delusion to panic as some investors have lost more than half of their initial investment after almost doubling their holdings.

As we enter a bearish market, more analysts are trying to predict when it will be over by using technical indicators and fundamental changes in the global financial market. One of the most impactful events for the digital assets market is the Bitcoin halving, which is expected in 2024.

In addition to the halving, we are going to see the FED's easing of the monetary policy, which is expected to begin in the end of 2023 or the beginning of 2024 by cutting the rate.

Jeffrey Gundlach Sees Bitcoin Dropping to $10K

With decreasing pressure on risky assets like Bitcoin and the cut in the number of produced coins, we should see a gradual recovery of the digital assets market if the Fed's desire to tame inflation in 2022 and the first part of 2023 ends successfully.

At press time, Bitcoin is trading at $21,220 and is yet failing to recover at least some of the value it lost from November's top.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.