Projections for 2024 - Cryptocurrency is here to stay!

We will address the economic landscape, examining the impact of high global interest rates and the weakened currencies around the world.

Turning attention to the cryptocurrency realm in 2023, the world has seen many important developments. Bitcoin saw a surge of 162%, and Ethereum experienced a notable increase of 98%. Amidst this uptrend, the sector faced challenges, including scandals, fraud convictions, 

and money laundering allegations against key players. Cryptocurrency experts hve their insights into the industry's response, highlighting a notable shift towards regulatory compliance
Coming back to our original topic the Exchange Traded Fund (ETF) domain, where discussions between BlackRock and the US Securities and Exchange Commission (SEC) took center stage. The SEC's insistence on cash-based redemptions for ETFs became a focal point. A potential resolution regarding the classification of cryptocurrencies as Securities or Assets in 2024 was hinted at, with an anticipation of increased focus on Know Your Customer (KYC) and Anti-Money Laundering (AML) laws.

Regarding China's role, they touched upon the development of a Central Bank Digital Currency (CBDC), marked as more aligned with FinTech than a disruptive force within the crypto sphere. The involvement of banks in the cryptocurrency arena was noted, with an emphasis on cautious exploration.

Looking ahead to 2024, a subtle perspective is offered, forecasting a tempered appreciation in cryptocurrency values, steering away from the excited bull runs witnessed in 2023. This projection was framed within the context of an evolving, maturing and keeping the horizons of the crypto market.