On January 1, 2024, cryptocurrency analyst Miles Deutscher shared his predictions for the year on social media platform X (formerly known as Twitter), outlining what he believes will be significant trends and events in the crypto space.
- Record Year for Crypto Airdrops: Deutscher anticipates 2024 to be the biggest year for crypto airdrops, with major ones expected from LayerZero, zkSync, Manta, Linea, Wormhole, and the Cosmos ecosystem.
- Ethereum’s Comeback Against Bitcoin: He predicts a shift in sentiment favoring Ethereum over Bitcoin, driven by the traction of the ETH ETF and the rollout of the Dencun upgrade.
- Continued Regulatory Pressure: Despite some easing of regulatory fears, Deutscher expects them to resurface, with bodies like the SEC remaining persistent.
- Bitcoin’s Price Fluctuations: He foresees a 20% drop in Bitcoin’s price, likely in the first half of the year, but maintains an overall positive outlook for 2024.
- Breakthrough in Crypto Gaming: Deutscher predicts the emergence of the first hit game in crypto gaming, validating the sector and sparking increased interest.
- Growth of AI in Crypto: According to Deutscher, the AI crypto sector is expected to see significant growth, hosting some of the best performers and major token launches.
- Rise of Cosmos Ecosystem: He is increasingly bullish on the Cosmos ecosystem, predicting its growth in dominance and hosting major new launches.
- Focus on Blockchain Scaling: Deutscher sees modularity and parallelization as key trends for blockchain scaling, with increased adoption and utilization.
- Bitcoin Ordinals as a Top Narrative: Deutscher believes that Bitcoin ordinals will be one of the strongest performing narratives of the year.
- Increase in DEX Volumes: He anticipates a rise in DEX volumes compared to centralized exchanges, driven by regulation, improved DEX/wallet user experiences, and increased liquidity.
Deutscher concludes by emphasizing the excitement and volatility expected in 2024, with numerous new trends emerging in the cryptocurrency world.
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