Have You Seen This?! CRYPTO Insights & Predictions For 2024!

Which cryptocurrencies will do best in 2024 well to predict the future you need To take stock of the past that's why Today we're reviewing a report that Breaks down crypto's performance in 2023 And makes predictions for 20124 spoiler Alert things are looking pretty bullish For the coming year for some cryptos Especially so for a glimpse of what the Year ahead might hold stay Tuned the report what we'll be Dissecting today was compiled by k33 Research the company which was formerly Known as Arcane crypto is a digital Assets brokerage that provides Industry-leading insight and Analysis I Should note that in this video we'll be Covering the parts of k33 is report that We found the most enlightening but the Full report itself is well worth a read If you have the time we'll leave a link To it in the description below I should Also mention that we covered the their Annual report back in 2021 as well and It's worth watching that video to see What they got right and what took them And the rest of us by surprise in 2022 Again I'll leave a link to that video in The description below right let's dive Straight in now the report begins on a Positive note classing 2023 as the year Of quote a healthy recovery the main Author whose name I'm probably going to Butcher is vler Lund and he makes a few

Interesting Trend observations which I'll briefly touch on here before Elaborating on them as we go along first Up he notes that sell pressure has been Subdued in 2023 owing to the fact that Most people who needed to sell did so in 2022 instead in 2023 you had very little Buy and sell pressure with the notable Exception of the dollar cost averages Who he calls the quote Fanatics in case You're unfamiliar dollar cost averaging Involves buying a steady amount of a Particular asset at regular intervals so For instance buying $100 worth of BTC on The first day of every month regardless Of its price at that time these DCA Fanatics tend to accumulate BTC Throughout bare and bull markets only to Sell when they reach all-time highs vler Also notes the growing Professionalization of the sector saying That the wild west days are behind us as The strong arm of Regulation has brought Crypto more in line with the law Particularly in the United States now I Would argue that other jurisdictions are Much further ahead than the states but Hey any progress is good progress I Suppose now when it comes to the Institutional filings for spot Bitcoin ETFs the report is naturally optimistic It notes that the process of filing for This financial product is costly and Shows that that institutions like Black

Rock and many others feel that crypto is Here to stay we'll get into this in more Detail a bit later on the next page is a List of highlights of the Year broken Down into quarters it's always Fascinating to take some time to look at What happened over the year to know just How far we've come you'll remember how The year started with a lot of fud Around crypto the banking crisis in the United States knocked people's Confidence in the sector with a shock in Collapse of Silicon Valley Bank and Signature Bank both of which were Heavily exposed to crypto things were Pretty bleak for much of Q2 as well with Gary gendler's Securities and Exchange Commission suing top exchanges binance And coinbase but in June optimism Returned when Larry fins Black Rock Filed for a spot Bitcoin ETF application With the SEC prompting a flurry of other Financial institutions to follow suit in Many ways these SEC filings have def Fined the year these big institutions Once highly critical of crypto showed They wanted in on the action and thus Confirmed that crypto is indeed here to Stay Q3 was a bit muted with markets Trading sideways but included a major Legal win grayscale convinced an appeals Court that the sec's rejection of its Bitcoin ETF application was baseless or To use legal speak arbitrary and

Capricious the implication was that the SEC is now now more likely to approve Spot Bitcoin ETFs by Black Rock and Others in early January and BTC prices Have been riding this wave of optimism Ever since it's worth mentioning too That this was not the only L suffered by The SEC over the course of 2023 we also Saw that favorable ruling for ripple in Its long running case against the Regulator back in July and finally the Big news of Q4 was binance's $4.3 Billion settlement with the SE c c the World's biggest crypto Exchange took a Bit of a beating this year but like the Only chumber wber song you've ever heard They'll get up again if you want to Learn how I'll leave a link to our Exclusive interview with binance's new CEO in the description below all right Rather than take you through the report Page by Page we're going to look at it Thematically we'll also compare k33 Predictions with those made earlier this Year by Vanek a us-based investment man Management firm I'll leave a link to Their 15 predictions for 2024 in the Description below as well hold up a Second there guy sorry to interrupt Folks but I just wanted to very quickly Tell you about the coin Bureau deals Page now this is the place where we have Put together some of the very best deals And Promos in all of crypto so you can

Think things like exchange signup Bonuses trading fee discounts and money Off of Hardware wallets and much much More besides so if you want to check That out out coin.com deals is the place To go or you can just use the link in The description of this video down below Thanks very much and now back to you guy All right first up let's look at BTC in Short it's been a spectacular year for The OG crypto if you were lucky or smart Enough to have picked up BTC a year ago You've done well BTC has jumped 163% Year-to date for context that's multiple Times other asset classes in the same Period the NASDAQ grew by 44% the S&P 500 increased by 18% while gold didn't Even make it onto the podium with more Modest gains of 12% another interesting Observation is that in 2023 BTC really Shook off its correlation with equities You might remember in 2021 and up until Mid 2022 there was a significant Correlation between BTC and equities That reality undermined the thesis that BTC is a hedge against other asset class Cles but in 2023 the correlation plunged Towards zero which in turn makes BTC a More attractive investment for retail And institutional investors wanting to Diversify their portfolios 2023 was also A year of low volatility for BTC it was The least volatile year for the coin Since 2016 and its second least volatile

Year ever at different points in the Report the authors make two observations About BTC during this period first there Was a drop in the amount of retail Participation in other words a drop in The number of people like you and me Buying BTC over the Year this they put Down to broader macro Trends most Notably the increase in the cost of Living it's true 2023 saw massive Increases in inflation and as a result Interest rates the net result of this Was that people had less money to spend On non-essentials including crypto Investments the second observation is That despite despite periods of poor Performance and a bare Market full of Bankruptcies there are a bunch of Investors who continue to dollar cost Average into BTC these investors have Been crucial in pushing the price Upwards over 2023 and who Springs to Mind when you think of these quote Fanatic investors well if you answered Micro strategy and Michael sailor then You're bang on the money as you can see From this chart the amount of BTC held By publicly listed companies increased Steadily over the year however this was Exclusively down to micro strategy the Only such company to accumulate BTC in 2023 now micro strategy has 90% of the Total BTC held by public crypto Companies talk about being ahead of the

Pack and in case you're wondering even At today's prices Michael's boss level Bullishness seems to be paying off big Time micro strategy bought BTC at an Average price of around 30k it's now Punching above 40K and so their Unrealized BTC profits stand above $2 Billion today not too shabby Michael not Too shabby now looking to the Future There are two key dates to keep in mind The first is the 10th of January Officially that's the date by which the SEC will have to make a decision on AR 21 shares ETF filing but it's incredibly Likely that the SEC will rule on all the ETF applications at once in order not to Give one institution a first mover Advantage next we have the Bitcoin Harving which is scheduled to take place In April the author's main take on the Harving is that it will significantly Impact price volatility but no one can Predict what the price is likely to be Since liquidity effects are so hard to Pin down Vanek on the other hand expects BTC to break 48k in the days or weeks Following the harving overall it's clear That the authors are bullish on BTC for The new year they expect that the Current BTC rally will peak in January Following an SEC approval on the spot ETFs then it will dip and begin rallying Again throughout the year reaching new All-time highs by the end of the year so

Christmas 2024 could be a jolly one These predictions make sense though the All-time high prediction is probably the One with more consensus among Researchers the January Peak is based on A few expectations including that the Market has priced in the potential Impact of Bitcoin spot ETFs on the price Of BTC and the expectation that some Investors will take profits around that Time these are reasonable assumptions in Fact a similar thing happened with gold In the 1970s and following the debut of Pro shares' Bitcoin Futures ETF in October 2021 the expectation that the SEC will approve the spot Bitcoin ETFs Is also reasonable as you might remember In the aftermath of grayscale's SEC win Bloomberg intelligence put the Likelihood of spot Bitcoin ETF approvals At 90% when it comes to btc's all-time high In 2024 k33 are playing it somewhat safe By saying it will be reached by the end Of the year remember those dollar cost Averages they mentioned that helped Drive prices upwards in 2023 well the authors also note that These faithful BTC accumulators tend to Hold on to the asset throughout the EB And flow of the market only to sell when It hits all-time highs they expect the Same to happen this time around and Based on past performance it's hard to

Argue against this and while k33 don't Set a specific date for btc's next All-time high Vanek does they say it Could Peak on the 9th of November why That date specifically well it marks Exactly 3 years since its last all time Time high and based on precedent BTC has Tended to do well in November during Past Cycles all right so 2023 was Bullish for BTC and 2024 is also looking Hot but what about eth and other Altcoins well in 2023 eth performed well Against the dollar but poorly against BTC this is because of two factors According to the report first BTC Specific news like the ETF pushed BTC Prices up upwards then onchain activity On ethereum was shallow in 2023 and Surprisingly faced competition from Bitcoin because of ordinals which I'll Expand on later now eth's relative Downtrend began in September 2022 when Ethereum moved from proof of work to Proof of stake and continued after the Shanghai upgrade in April which allowed Stakers to unstake funds despite the Upgrade there was no mass unstaking of Eth on the contrary state St eth Grew From 18 million to 28 million this was On the back of the onchain yields that Brought in additional Capital the Authors also note that eth's poor Performance against BTC might also have Been because of the poor performance of

Defi in 2023 this had the effect of Reducing gas fees on the ethereum Network which consequently reduced the Amount of eth being burned more Specifically they point to the modest Growth of total value locked in eum defi Which increased just 19% and remains 72% Below what it was at the end of 2021 in Case you're wondering it was just under $100 billion at that time emphasizing Ethereum's lackluster 2023 was the fact That futures-based eth ETFs which were Granted approval and launched after Seeding on the 2nd of October didn't Significantly impact eth's price in fact They flopped big time seeing only a Fraction of the inflows the BTC Futures ETFs had seen when they launched a few Years back however looking to 2024 both K33 and Vanek are more optimistic for Eth although k33 expects the eth ETF Filings by Black Rock and others will be Rejected they predict the price of eth Will rally against BTC as May approaches The reason for this is that may is the Approval deadline for vanex eth ETF Application and while they don't go into Specifics you can imag imagine the Concentration of news around that time An approval for an eth ETF could cause Foled investors to drive the price up Interestingly van X's assessment is Similar they expect eth to perform well Against BTC only after the harving in

April neither company makes an eth price Prediction by the way it's worth noting Also that I hold eth in my personal Portfolio and if you want to hear what We here at coin Bureau think about Ethereum you can watch our recent video On it that will be link to down Below right moving on to alts now the Big winner of 2023 was of course salana Now sana's speed scalability and lower Transaction costs are a few of the Reasons it's grown as a competitor to Ethereum over the past 12 months salana Has achieved over 550% year-on-year growth it's a Staggering statistic for context this is Also because it was undervalued Following the collapse of FTX in 202 2 At the time investors were very bearish On Soul since FTX had massive Soul Holdings around $1 billion Worth or 16% Of the total Supply there were concerns That they may sell some of these Holdings to pay back creditors another Thing to bear in mind is that despite Soul's massive growth this year it Remains at a 74% draw down from its past All-time high this means there's still a Lot of room to run now while k33 three Don't make predictions on soul for the New year Vanek is very bullish they Expect soul will become a top three Crypto by market cap total value locked And active users and not only that but

They suspect major institutions will Apply for spot Soul ETFs since I hold Soul in my personal portfolio I hope They're right and you can find out what Else we think about salana in our recent Video it's in the usual place okay back To the report and here's a fun in fact If you take a look at our video on Arcane's 2021 review you'll see they Called the year quote the year of the Layer ones that year sa was one of the Big Winners too and the prediction was That l1s will continue to perform well Against eth going forward it's Interesting to note that now 2 years Later that's still the case anyway back To 2023 now aside from Soul the only Major altcoin to outperform BTC was link Which saw 178% year-on-year growth as Compared to btc's 162% link success was due to the real World asset narrative according to k33 And an honorable mention goes to Avalanche whose avax coin slightly Underperformed BTC in terms of Year-on-year growth but despite decent Growth relative to USD these alts are Still well short of their all-time highs Five of the biggest cryptos could forx And still trade lower than their All-time highs we have a long way to go Folks okay let's move on to stable coins In q1 you'll remember that Circle the Company behind usdc looked like it was

On Shaky Ground that's because at the Time there were major concerns about Circle's $3 billion deposit stuck at Silicon Valley Bank in March usdc lost Its one to one peg with the dollar and Briefly fell to around 8 87 C although Usdc quickly regained its Peg it was a Rough year for Circle as you can see From this chart outflows from usdc were Around $20 billion as the authors note Average outflows from stable coins in 2023 were around $10 billion as they Rightly explain this is largely because Of us treasuries yielding rates of Around 5% over the year treasuries are Considered far lower risk than stable Coins so when they rise it causes risk Averse investors to move funds away from Stable coins and into treasuries when Yields drop you can expect the opposite To happen but that doesn't explain Tether's strong performance during the Year as the chart also shows usdt was The big winner of 2023 with its Supply Increasing by 22 A5 billion over the Course of the year the report doesn't go Into detail about tether's rise but the Fact that usdt maintained its Peg Throughout the year is one clear reason Another is the fact that usdt has Expanded to various blockchains Including of course ethereum Bitcoin Cash Tron and salana a point the report Does highlight is the fact that tether's

Revenue model is looking pretty damn Impressive if you assume a yield of Around 6% on the US treasuries mostly Backing tether's 89 billion circulating Supply the company could make a Jaw-dropping $5 billion doar a year and What does it do with these profits well In May tether announced that it would Spend 15% of its profits accumulating BTC this sailor esque strategy of course Is bullish for BTC prices going forward Now let's turn our attention to one of The phenomena of the Year 2023 was the Year nfts on bitcoin became a reality With the launch of ordinals as the Authors note ordinals carry similar Traits to nfts on other other chains but Use inscriptions to store data on the Blockchain notably weekly trading Volumes in ordinals overtook weekly nft Trading volumes on ethereum which is Pretty nuts given the fact that nfts Have been on ethereum since 2017 but the use of ordinals has not Been without controversy their use Increases the cost of regular Transactions due to mle congestion as a Result some people want to limit their Use proponents of ordinals however argue That their use is the most feasible Solution to bitcoin's long-term Survival By this the authors are referring to Bitcoin's harving further down the road Which will shrink rewards generated for

Bitcoin miners with ordinals the Bitcoin Hash rate grows which in turn brings in Higher revenue for miners now the k33 Report doesn't really touch on nfts Which of course performed poorly in 2023 Vanek on the other hand expects nft Volumes to approach new all-time highs Next year they believe this will happen As speculators return to crypto and are Drawn to top nft collections on ethereum And new bitcoin-based offerings they Also mention how the Improvement of Crypto games could boost demand for nfts And they predict that 2024 will be the Year that a big blockchain game emerges If you're a regular viewer of our Channel you'll know that we're also Bullish on web3 gaming weather 20 24 is The year of a Breakout game is Impossible to predict but definitely Keep your eyes open a successful gaming Project could be just the Catalyst for Mainstream crypto adoption okay the Final section of the report we're going To talk about looks at the BTC Derivatives Market in case you're Unfamiliar it's a financial Market where Investors can trade contracts that Derive their value from the price of BTC These contracts are called derivatives And they allow investors to speculate on The future price of Bitcoin without Actually owning it the BTC derivatives Market includes various types of

Contracts such as Futures options and Perpetual swaps which we won't get into Here anyway when it comes to the BTC Derivatives Market the big winner of 2023 was the CME or the Chicago mertile Exchange which by the end of the year Became the largest derivatives exchange For BTC its Market volume served Ed by 154% according to the Futures industry Association or FIA there are a few Reasons for this the most notable of Which is the fact that the cme's Bitcoin Futures and options products were Heavily favored by institutional Investors in fact the number of large Open interest holders those holding more Than 25 contracts increased Significantly the other big reason the CME took the top spot is because of a Lackluster performance by binance's BTC Der derivatives volumes while the k33 Report doesn't delve into the details Too much you'll no doubt remember that Binance faced enormous pressure from Regulators in 2023 CZ binance's CEO Stepped down in November as part of that $4.3 billion settlement with the SEC we Talked about earlier this led to a Market decline and no doubt weighed on The company's ability to offer Derivatives products without disruption And then there's the reputational side Of things it's fair to say that some Investors just avoided binance given the

Pressure it was facing from numerous Regulators now looking forward the Authors expect that the CME will lose The top spot in 2024 after spot Bitcoin ETFs are approved which will result in Increased competition from other Exchanges and Platforms okay now to wrap up I'll leave You with a few closing thoughts the First big takeaway for us when looking Back at 2023 is the fact that Institutions are increasingly affecting The price of crypto particularly BTC if You read crypto media it feels like a Spot Bitcoin ETF is a given but there is Little analysis out there about what Will happen if those applications are Not approved logically crypto prices Will take a beating and it could Accelerate the flight of us crypto Companies to other Shores where Regulators are more inviting and that's The second takeaway 2023 showed us just How much of an impact Regulators Particular those in the US have on the Sector 2024 will be the year that the Eu's mic regulations come into Force Which will unify crypto regulation Across the eu's member states and reduce Red tape for companies operating across Multiple EU countries third is that Indicators across the board are looking Bullish for 2024 we certainly agree but It's always important to take a step

Back and try not to be caught up in all The hype and excitement if you are going To trade remember the fundamentals of Doing your own research and managing Risk from storing your crypto offline in A hardware wallet to only investing what You can afford to lose and following a Strategy that includes regularly taking Profit if you want to know more I'll Leave a link to our ultimate crypto Trading strategy guide Below and that as they say is that so What did you think of this report did Anything surprise you about it what do You think about its outlook for the Future and before you go if you found This video helpful then smash up that Like button and don't forget to Subscribe also head on over to our deals Page for the very best deals in town Including up to $40,000 in exchange Signup bonuses and trading fee discounts Of up to 60% okay that's it my name's Guy thanks For stopping By Oh