The Macro Behind Bitcoin and Gold
What Crypto Whales are doing. Bitcoin and gold, two of the most popular stores of value, have been the subject of speculation and scrutiny. Many investors are wondering what factors are driving the behavior of these assets. According to the CEO of Vanek, one of the largest financial institutions in the world, the macro behind Bitcoin and gold is very strong. The CEO believes that both assets will continue to perform well in the next 12 months.
Bitcoin and gold are often compared because they both serve as stores of value and tend to behave similarly in relation to interest rates. During the low interest rate era of the 2010s, gold performed well. Now, as interest rates are going down, Bitcoin will also make big gains. This is why the CEO of Vanek expects all-time highs for Bitcoin in the next 12 months.
Bitcoin ETFs on the Horizon
One of the major developments in the cryptocurrency market is the potential approval of Bitcoin exchange-traded funds (ETFs). Vanek is among the institutions that have filed to launch a spot Bitcoin ETF. The CEO believes that the approval process will likely happen all at once, similar to what happened with Ethereum futures. This approach ensures a level playing field for all participants and prevents any unfair advantages. What Crypto Whales are doing.
The introduction of Bitcoin ETFs will bring significant institutional interest and investment into the cryptocurrency market. Unlike previous pumps in Bitcoin's history, this time the world's money managers are more open to the idea of investing in Bitcoin. This shift in sentiment will certainly drive the price of Bitcoin even higher. What Crypto Whales are doing. Bitcoin Etfs approved, now what ?
Vanek's Crypto Predictions for 2024
What Crypto Whales are doing. Vanek recently published 15 crypto predictions for 2024. These predictions cover a wide range of topics, from the performance of Bitcoin and Ethereum to the rise of decentralized exchanges and the growth of blockchain gaming. While some of these predictions may seem bold, they come from a reputable institution with a track record of launching successful ETFs.
Here are some of Vanek's key predictions:
Prediction 1: US recession and Bitcoin ETFs
Vanek predicts that the US recession will finally arrive, but it will also be accompanied by the approval of the first spot Bitcoin ETFs. This approval may bring in over $2.4 billion in investments in the first quarter of 2024, supporting Bitcoin's price.
Prediction 2: Bitcoin halving and price rise
The fourth Bitcoin halving, for 2024, may have minimal market disruption. Instead, it could actually lead to a rise in Bitcoin's price, benefiting low-cost miners in particular.
Prediction 3: Bitcoin's new all-time high
Vanek believes that Bitcoin will reach a new all-time high in the fourth quarter of 2024. This surge in price may be driven by political events and regulatory shifts following a US presidential election.
Prediction 4: Ethereum's performance and competition
While Ethereum won't surpass Bitcoin in 2024, it will most certainly outperform major tech stocks. The rise of other smart contract platforms may challenge Ethereum's market share.
Prediction 5: Ethereum's layer 2 dominance
Ethereum's layer 2 solutions, such as the EIP-4844 and Proto Dan sharding, may certainly capture the majority of value locked and trading volume. This dominance is expected to increase the issuance ratio of Ethereum-based NFTs compared to Bitcoin-based NFTs.
Prediction 6: Changes in spot trading leadership
Vanek predicts that Binance, currently the leading spot trading platform, will lose its position to competitors like OKEx, Bybit, Coinbase, and BitG. Coinbase's futures market in particular will exceed $1 billion in daily volume.
Prediction 7: Stablecoin market cap
Stablecoins, like USDC, may well reach a new all-time high market cap above $200 billion. This indicates a shift towards more institutional adoption, especially on emerging layer 2 chains.
What Crypto Whales are doing. Ethereum Price Prediction 2024-2030
Frequently Asked Questions
Q: Who is Vanek?
A: Vanek is one of the largest financial institutions in the world. It is famous for launching successful ETFs.
Q: What are the predictions for Bitcoin and gold?
A: The CEO of Vanek predicts that both Bitcoin and gold will reach new all-time highs in the next 12 months. The macro behind these assets is strong, and they are expected to perform well in a low-interest-rate environment.
Q: When will Bitcoin ETFs be approved?
A: Vanek believes that Bitcoin ETFs will be approved all at once, similar to the approval process for Ethereum futures. This ensures fairness and prevents any unfair advantages.
Q: Are Vanek's crypto predictions reliable?
A: Vanek is a reputable institution with a track record of launching successful ETFs. While the future is uncertain, their predictions carry weight in the cryptocurrency market.
Q: What is the significance of Bitcoin's halving?
A: Bitcoin's halving event, which occurs every four years, reduces the rate at which new Bitcoin is created. This scarcity is expected to contribute to the rise in Bitcoin's price.
Conclusion
The behavior of Bitcoin and gold has been a topic of interest for many investors. According to the CEO of Vanek, the macro behind these assets is strong, and they are expected to outperform in the next 12 months. With the potential approval of Bitcoin ETFs on the horizon, institutional interest in cryptocurrency is expected to soar.
Vanek's crypto predictions for 2024 provide further insight into the potential future of the cryptocurrency market. While these predictions may seem ambitious, Vanek's reputation and expertise in launching ETFs lend credibility to their forecasts.
As the cryptocurrency market continues to evolve, it is important to stay informed and consider the insights of industry experts. Vanek's predictions offer a glimpse into what the future may hold for Bitcoin, Ethereum, and other cryptocurrencies.
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