Bankless Ryan Selkis Shares His 2024 Crypto Predictions
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Dec 19, 2023 Ryan Selkis, Founder and CEO of Messari, shares his insights on the future of crypto as he outlines his predictions for 2024. He discusses major investment themes, including the potential approval of a Bitcoin spot ETF and its implications for the market. Selkis also highlights key figures to watch and dives into the regulatory challenges presented by political influences, particularly those from senator Elizabeth Warren. The conversation touches on the evolving landscape of stablecoins and the integration of privacy-focused projects amidst increasing scrutiny.
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Current Market State
- The crypto market is technically in a bull market, with Bitcoin up 150% and Ethereum almost double from their lows.
- Real-world adoption and bridging the gap with traditional finance are key for long-term growth.
2024 Market Analog
- The 2024 crypto market resembles 2020 with a six-month delay, particularly regarding the Solana ecosystem and DeFi summer.
- The Bitcoin halving cycle and specific historical parallels influence market trends.
Bitcoin ETF Impact
- A Bitcoin spot ETF approval in January 2024 could trigger substantial wealth generation within the crypto ecosystem.
- Wall Street institutions will aggressively market Bitcoin ETFs to investors, driving demand and AUM.