Cryptocurrency market outlook for 2024

In 2024, the cryptocurrency market is expected to continue growing due to the expansion of full-scale participation of institutional financial institutions, accelerated technological innovation, and regulatory overhaul. First, the market size is expected to expand significantly as central banks around the world launch digital central bank currencies (CBDCs) and institutional financial institutions in the United States and the European Union (EU) begin large-scale investments in the cryptocurrency market. It's possible. Second, the value of highly practical cryptocurrencies is expected to rise significantly thanks to the acceleration of innovation in cryptocurrency technology such as blockchain and smart contracts. In particular, speed improvements such as Ethereum's sharding and quantum computer response are attracting attention. Third, as the regulatory overhaul of the cryptocurrency market in major countries begins in earnest, it is expected that investor protection measures will be strengthened and market stability will increase. However, volatility is expected to continue in the cryptocurrency market in 2024. It is necessary to keep an eye on market risk factors such as economic slowdown, interest rate hikes, and strengthening regulations. In particular, responding to signs of market overheating will be important. To briefly summarize the main contents: Full-scale participation of institutional financial institutions in the cryptocurrency market Accelerating technological innovation such as blockchain Regulatory overhaul in major countries begins in earnest Due to the influence of these factors, the cryptocurrency market will continue to grow in 2024, but it is expected that there will still be volatility.

 

 

The full-scale participation of institutional financial institutions in the cryptocurrency market is expected to have a very positive impact on market growth. Specifically, the following impacts are expected: First, the investment of funds and technology from institutional financial institutions will contribute to expanding the market size. It becomes possible to secure market liquidity worth trillions of won and build stable market infrastructure. Second, it is also positive for investor protection measures and improving market confidence. It is expected that institutional market participation standards and monitoring will reduce market risk factors. Third, the market participation of institutional and general investors is expected to increase. When making investment decisions, you will be more likely to trust information and analysis from institutional institutions. However, caution is needed as there are concerns that market flexibility may decrease if excessive institutional influence is exercised.

 

 

 

The growth prospects of the cryptocurrency market can be predicted as follows. In the 2020s, market growth is rapidly expanding due to the full-scale market participation of institutional financial institutions and accelerated technological innovation. In particular, the growth is expected to continue even more rapidly starting from 2023-2024. Looking at the specific market forecast, The cryptocurrency market capitalization is expected to increase to approximately $6 trillion in 2023, three times that of the end of 2021. In 2024, full-scale investment expansion by institutional financial institutions and market application of major technological innovations will begin in earnest, and the market capitalization is expected to expand to over $1 trillion, more than five times more than at the end of 2021. However, a certain level of volatility is expected to continue due to the influence of macroeconomic and policy variables. The following are considered to be the coins that will receive the most attention in the cryptocurrency market in the future. First, Bitcoin and Ethereum. It is expected that its position as a representative coin representing the market will remain strong. In particular, Ethereum's technological innovation is expected to lead the market. Second, interest in practical altcoins will increase. Coins that are actually used in various fields such as payments, financial services, supply chain management (SCM), and NFT are expected to receive attention. Third, the value of so-called ‘blue chip cryptocurrencies’ preferred by institutional investors is expected to increase. This is because it is expected that investments will mainly be made in coins with solid technology and market base. In addition, we can also expect an increase in the value of coins linked to Metaverse, CBDC, and various convergence services.

 

 

 

​

 

 

의견 보내기