Chris Skinner's blog

Shaping the future of finance

What’s in store for 2024: Cryptocurrency

Chris Skinner Author Avatar
by

According to most pundits, 2024 looks like a great year for cryptocurrency. Analytics Insight predicts a resurgence, with the crypto market expected to surpass the US$3 trillion mark. Why? The main driver seems to be another bitcoin halving, but also Ethereum and altcoins seem to be big movers, alongside rising crypto adoption amongst mainstream institutions.

Gemini, the crypto exchange, cite a further five key trends:

  1. the potential approval of a spot bitcoin ETF in the US;
  2. the Bitcoin halving, as mentioned, which can both have huge implications on crypto market dynamics;
  3. the powerful intersection of AI and blockchain;
  4. the importance of improved security adaptations for Web3; and
  5. regulatory clarity in jurisdictions around the world, that can bring renewed confidence and user growth.

So what should you do about it? Watcher.guru says buy bitcoin, cardano and solana. It’s up to you whether you take that advice as, with all financial advice, the price of your investments may rise or fall so only invest what you can afford to lose.

Nevertheless, if you don’t trust the Watcher, try this advice from Kat Tretina and John Schmidt at Forbes who reckon Ethereum, Tether and a few other currencies are worth a punt.

All in all, what I find most interesting is that everyone has a cryptocurrency awareness. According to the UK regulator, the FCA, 78% of adults have now heard of cryptocurrencies, just behind Spain.

Having said that, the vast majority of Americans who say they have heard a little about cryptocurrency (88%), three-quarters say they are not confident that current ways to invest in, trade or use cryptocurrencies are reliable and safe, according to Pew Research.

I guess 2024 is a bit of a landmark for cryptocurrencies either way, as it is now fifteen years since Satoshi’s bitcoin PDF paper appeared online. Fifteen years. Fifteen tumultuous years. Fifteen years of exchanges and trading platforms exploding with excitement and imploding with doom.

FTX, Terra-LUNA, Celsius and more have rocked the market, and taken away an awful lot of consumer confidence in such investments.

No wonder people are nervous about putting money into crypto.

Equally, it’s a highly volatile market with bitcoin’s pricing rising and falling faster than a Disney rollercoaster so, the message to all of those out there who are wondering about cryptocurrencies in 2024: only invest what you can afford to lose.

On a final note, I was also surprised no one mentioned X offering payment services via cryptocurrency. Well, that might be another note.

 

 

 

 

 

Chris Skinner Author Avatar

Chris M Skinner

Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...

What is the future?

Learn more

Learn more about Chris

About Chris Skinner

The Past, Present And Future Of Banking, Finance And Technology

Fintech expert Chris Skinner: countries need digital transformation to remain competitive

Join me on Linkedin

Follow Me on X!

Hire Chris Skinner for dinners, workshops and more

Learn directly from from one of the most influential people in technology, gain insights from the world's most innovative companies, and build a global network.

Chris’s latest book

Chris Skinner’s ‘Digital For Good’ Book Launch Event – CFTE

Top 50 Global Thought Leaders and Influencers on FinTech 2023

Chris Skinner
Commentator, CEO of The Finanser and best-selling author at The Finanser

Thinkers360 Thought Leader

Contact Me

Global Awards

Lifetime Achievement Award

Global 100 - 2024 Winner

Chris Skinner - Financial Markets Advisor of the Year - The Finanser - UK 2023

Best Financial Markets Advisor of the Year 2023

30 Best Regtech Blogs and Websites 2023

Kids creating the future bank | TEDxAthens

Captain Cake and the Candy Crew

Captain Cake Winner of a Golden Mom’s Choice Award

TWO-TIME WINNER OF A MOM’S CHOICE GOLD AWARD!

Alex at the Financial Services

Gaping Void's Hugh MacLeod worked with the Finanser