Hello everyone, i will try to make this as simple as possible, so i will not take allot of your time, but still trying to prove my point.
The best way in my opinion, in order to find out what is going to happen with BTC in 2024, is to ask the correct question. So i will ask the following, and answer with my personal opinion.
Question: What is BTC in 2024 and it was in also 2018? Answer: A strange popular concept of virtual money, that makes people both curious and sceptics.
The popularity among crypto currencies have increased allot since 2009, so we can say that today, crypto currencies are spread thru 90% of users of social media.( I don't have a statistic about this, i am just assuming this, since all the users of mobile phones are going to see some type of topic related to crypto or any type of investments.)
In my personal opinion, popularity is what makes BTC and other crypto currencies to raise or fall. Its very simple, people are getting excited, they will buy at any price so the value will increase, or, people will get scared, and will sell at any price.
I have posted to pictures. The one above, is the coin marketcap since 2014.The picture under, is the registered users on social media platforms, Facebook, Myspace, Friendster. without some other very important, like TikTok, YouTube or Tweeter. But, i think the rise will apply to all others platforms similarly.
If you look at crypto market cap picture, and then at the registered users in 2018 and 202 you will see one of the most interesting things, that i am sure many of you have missed. Just take a second, and see if you can tell. ( Side question - does anyone knows if tradingview has a cryptomarketcap chart? )
My point is simple
2017 - 750 bil market cap and 1,731 bil users
2022 - 2,86 trl market cap and 4,632 bil users x 3 times increase than 2017
2024 - 2,72 trl market cap and 5,037 bil users NOT SO MUCH INCREASE
( another side question for Tradingview, can you share a similar graph with registered users since 2014?)
I am associating Social Media users with potential customers for brokers, exchanges, trading platforms, investment banks, etc. Because this is how companies are targeting new customers in 2024, inclusive potential investors.
In conclusion, even though we are 2 years from last bullish wave, there is a potential for crypto market to rise but not much. I can not say a fixed price, but i think now, in 2024, BTC hitting 100k is very optimistic, unless Biden start printing again USD.
Another way for BTC and crypto to increase 40% this year, so BTC 100k and coinmarketcap 4trl, is that investors to move money from other assets to crypto, which is not so probable, since all the investors are having a vast portfolio.
So yes, it is possible for BTC to hit 100k this year, but not probable, in my personal opinion, because there is not enough money willingly available, to be moved to crypto.
Good luck guys!
The best way in my opinion, in order to find out what is going to happen with BTC in 2024, is to ask the correct question. So i will ask the following, and answer with my personal opinion.
Question: What is BTC in 2024 and it was in also 2018? Answer: A strange popular concept of virtual money, that makes people both curious and sceptics.
The popularity among crypto currencies have increased allot since 2009, so we can say that today, crypto currencies are spread thru 90% of users of social media.( I don't have a statistic about this, i am just assuming this, since all the users of mobile phones are going to see some type of topic related to crypto or any type of investments.)
In my personal opinion, popularity is what makes BTC and other crypto currencies to raise or fall. Its very simple, people are getting excited, they will buy at any price so the value will increase, or, people will get scared, and will sell at any price.
I have posted to pictures. The one above, is the coin marketcap since 2014.The picture under, is the registered users on social media platforms, Facebook, Myspace, Friendster. without some other very important, like TikTok, YouTube or Tweeter. But, i think the rise will apply to all others platforms similarly.
If you look at crypto market cap picture, and then at the registered users in 2018 and 202 you will see one of the most interesting things, that i am sure many of you have missed. Just take a second, and see if you can tell. ( Side question - does anyone knows if tradingview has a cryptomarketcap chart? )
My point is simple
2017 - 750 bil market cap and 1,731 bil users
2022 - 2,86 trl market cap and 4,632 bil users x 3 times increase than 2017
2024 - 2,72 trl market cap and 5,037 bil users NOT SO MUCH INCREASE
( another side question for Tradingview, can you share a similar graph with registered users since 2014?)
I am associating Social Media users with potential customers for brokers, exchanges, trading platforms, investment banks, etc. Because this is how companies are targeting new customers in 2024, inclusive potential investors.
In conclusion, even though we are 2 years from last bullish wave, there is a potential for crypto market to rise but not much. I can not say a fixed price, but i think now, in 2024, BTC hitting 100k is very optimistic, unless Biden start printing again USD.
Another way for BTC and crypto to increase 40% this year, so BTC 100k and coinmarketcap 4trl, is that investors to move money from other assets to crypto, which is not so probable, since all the investors are having a vast portfolio.
So yes, it is possible for BTC to hit 100k this year, but not probable, in my personal opinion, because there is not enough money willingly available, to be moved to crypto.
Good luck guys!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.