Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ADOPTION NEWS»The recession won’t stop Bitcoin from reaching new highs in 2024, VanEck predicted in his annual cryptocurrency outlook.
ADOPTION NEWS

The recession won’t stop Bitcoin from reaching new highs in 2024, VanEck predicted in his annual cryptocurrency outlook.

By Crypto FlexsDecember 9, 20235 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
The recession won’t stop Bitcoin from reaching new highs in 2024, VanEck predicted in his annual cryptocurrency outlook.
Share
Facebook Twitter LinkedIn Pinterest Email

Despite predicting that the long-anticipated U.S. recession will finally hit next year, investment manager VanEck still expects Bitcoin to hit all-time highs by the fourth quarter due to the approval of spot ETFs and the upcoming halving event, according to a new report.

VanEck analysts Matthew Sigel and Patrick Bush expect the U.S. economy to succumb to a recession in the first half of 2024 as economic momentum slows and inflation cools, making it more vulnerable to shocks. However, analysts also expect more than $2.4 billion to flow into U.S. spot Bitcoin ETFs in the first quarter, pushing prices higher if approved.

VanEck believes the fact that spot Bitcoin ETFs trade at spreads of around 0.1% and are commission-free at many brokerages will drive demand.

The Securities and Exchange Commission has not yet approved a spot Bitcoin ETF in the United States, having previously approved futures-based funds in 2021. The next deadlines for the SEC’s decision to approve, deny or postpone applications from companies including VanEck and BlackRock are as follows: Bitwise, WisdomTree, Invesco, Fidelity, and Valkyrie are expected to decline in mid-January. Bloomberg analyst James Seyffart recently said the potential spot Bitcoin ETF approval window is likely to take place between January 5 and January 10.

Bitcoin Halving and All-Time Highs

bitcoin BTC

+2.26%
The fourth halving, in which block rewards are halved, is expected to occur in April and will be another potential catalyst, with previous halvings outpacing the cryptocurrency’s significant gains in 2016-2017 and 2020-2021. VanEck analysts expect the event to pass with “minimal drama,” with Bitcoin rising above $48,000 after the halving and miners experiencing little trouble thanks to a much-improved balance sheet.

Number of days since Bitcoin cycle peak. Image: VanEck.

Analysts expect Bitcoin to surge past a “presidential-sized wall of worry” in a US election year, reaching all-time highs by November and reaching its final cycle peak of up to $160,000. “I guarantee that if Bitcoin reaches $100,000 by December, Satoshi Nakamoto will be named Time magazine’s ‘Person of the Year,’” they added.

Cycle price peak. Image: VanEck.

Bitcoin is currently trading at $44,006, up 165% year-to-date, according to price data from The Block.

BTC/USD price chart. Image: Block/TradingView.

Ethereum will not overthrow Bitcoin, but Solana will continue to outperform

Sigel and Bush said Ethereum will not overturn Bitcoin’s market cap in 2024, but will outperform large-cap tech stocks, especially as Bitcoin’s regulatory status becomes more clear. As with past cycles, VanEck expects Bitcoin to lead the rally next year, while Ethereum won’t start performing well until after the halving. But there will be no “reversal,” they said.

that much ETH

+1.21%
The :BTC price ratio is currently around 0.05, close to its lowest level since July 2022.

ETH:BTC price ratio. Image: VanEck.

Analysts have argued that Ether will also lose market share to other smart contract platforms with less uncertainty surrounding scalability, such as: Solana brush

+7.94%
. They also expect Ethereum Layer 2 like Polygon, Arbitrum, and Optimism to consolidate into two or three dominant players depending on value and usage. For one, it achieves higher monthly DEX volume and total value peg than Ethereum for the first time.

VanEck expects Solana to become one of the top three cryptocurrencies by market capitalization by 2024, behind Bitcoin and Ethereum. This is fueled by increased DeFi activity on the blockchain, joining the “spot ETF war” with the top two digital assets.

Binance lost its top spot and NFT activity rebounded.

VanEck analysts also expect Binance to lose its crown as the top cryptocurrency exchange by spot trading volume in 2024, following a $4.3 billion settlement with U.S. authorities and a year of platform regulatory issues.

Analysts expected decentralized exchanges’ share of spot market trading volume to hit a new all-time high compared to centralized exchanges, although they argued that one of OKX, Bybit or Coinbase would take the top spot.

Additionally, Sigel and Bush expect NFT activity to rebound next year and hit record highs as speculators flock to the top collections of Ethereum and new Bitcoin-based products. They also expect groundbreaking blockchain games to finally be released.

Bitcoin and Ethereum NFT volume. Image: VanEck.

Among VanEck’s other expectations for next year, analysts said stablecoin market capitalization has hit an all-time high as USDC reverses its market share losses this year and the DeFi industry aligns with the idea of ​​know-your-customer (KYC) capabilities. On their front end.

It is important to note that VanEck may hold positions in any of the digital assets mentioned.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin Treasury Firm Strive adds an industry veterans and starts a new $ 950 million capital initiative.

September 16, 2025

The best Solana depin project to form the future -Part 2

September 8, 2025

Ether Lee (ETH) tests major support for $ 4,453 after the highest rejection.

August 31, 2025
Add A Comment

Comments are closed.

Recent Posts

The fullback of $ 16 of the chain link (link) can set a parabolic price rally.

September 18, 2025

Animation Powerhouse Maggie Kang To Join Programming Lineup

September 18, 2025

MEXC Joins Forces With Lombard Finance (BARD) To Launch $1 Million Prize Pool Extravaganza

September 18, 2025

What is the next after the Fed’s 25bps is cut? Everything you need to know

September 18, 2025

The XRP market value surpasses Shopify, Verizon, and Citigroup. Whales sell 40m coins.

September 18, 2025

Green Hood Contracts Thanksgiving Summary -Ackee Blockchain

September 17, 2025

BetFury Is At SBC Summit Lisbon 2025: Affiliate Growth In Focus

September 17, 2025

FED Mining’s Cloud Mining Platform Is Helping Users Earn $8,800 Per Day, And XRP’s Growth Is Driving Market Enthusiasm.

September 17, 2025

Stablecoin Holdings Drop As Investors Pivot To SOL, XRP, And Altcoins

September 17, 2025

Flipster Partners With WLFI To Advance Global Stablecoin Adoption Through USD1 Integration

September 17, 2025

Zircuit Launches $495K Grants Program To Accelerate Web3 Super Apps

September 16, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

The fullback of $ 16 of the chain link (link) can set a parabolic price rally.

September 18, 2025

Animation Powerhouse Maggie Kang To Join Programming Lineup

September 18, 2025

MEXC Joins Forces With Lombard Finance (BARD) To Launch $1 Million Prize Pool Extravaganza

September 18, 2025
Most Popular

Bitcoin Price Approaches Breakout – Why BTC Could Rise 10%

December 22, 2023

Why JudgeCoin is the future of cryptocurrency – join now! – DeFi information

January 22, 2024

Lara and Tiffany Trump’s X Accounts Have Been Locked Due to Hacking

September 4, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.