Nansen’s analysis also acknowledges structural drivers likely to influence the crypto market, such as the statistical boost around Bitcoin’s halving. However, there’s also the possibility of a re-acceleration of inflation or a recession, which would pose challenges for crypto prices and change the bullish narrative. In a “soft landing” situation, where inflation slows without drastically increasing unemployment, crypto prices are expected to grow steadily. The potential scenarios for the crypto market in 2024 depend a lot on the macroeconomic situation. Nansen: Market Scenario Analysis For 2024 However, some Bitcoin community members are fighting the change, which could hinder its adoption and implementation.
Use cases such as non-fungible tokens (NFTs) already gained popularity in 2023, and this trend might continue. This expansion could open new avenues for Bitcoin and highlight its versatility and robustness as a digital asset. Since 20, DEX has been gaining ground over CEX, and the trend might favor the former in 2024.įinally, Nansen believes that the largest and most trusted cryptocurrency, Bitcoin, is expected to secure a broader range of use cases beyond simple transactions.
This shift could mark a fundamental change in the crypto trading landscape, emphasizing the growing importance of decentralized financial systems.
