Cryptocurrency Predictions for 2024 and Beyond.
The total market capitalization of cryptocurrencies will reach nearly $3 trillion when it peaks in November 2021.
But by January 2024, the total market value will evaporate by 40%, exceeding $1.2 trillion.
Is the cryptocurrency world at the beginning of another winter, or will it bounce back again? The future remains to be seen.
Demand for cryptocurrencies overall looks to be on the rise after people start adding this new asset type to their portfolios and use it to perform on-chain transactions.
This article compiles the predictions made by cryptocurrency experts, covering everything from the old cryptocurrency Bitcoin to the new blood such as SHIB and Dogecoin.
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Prediction of Cryptocurrency markets
2021 will be a record year on every level for the cryptocurrency market and blockchain. At its peak in November 2021, the total cryptocurrency market capitalization will reach nearly $3 trillion. But incredibly, two months later, the total market value fell by 40%, evaporating more than $1.2 trillion during the period. Judging from the market stabilization, the battered cryptocurrencies may be accompanied by many opportunities.
Prediction of Bitcoin (BTC)
Bitcoin prices have fallen 41% from a peak of $68,000 to below $40,000 over the past few months. But for long-term Bitcoin holders, such a dramatic rise and fall is no longer news. They had already seen a rise to $20,000 in 2017, followed by an unexpected drop to $4,000 within a year. Below US dollars. With big news like Microstrategy continuing to buy the dip and El Salvador continuing to buy the bottom , Bitcoin looks very promising and still has a chance to bounce back above its 2021 highs. Several experts weigh in and see him as having the potential to exceed $100,000, especially as financial institutions, large corporations and governments continue to keep the asset on their balance sheets.
Prediction of Ethereum (ETH)
Ethereum is arguably the most impressive part of 2021 for newcomers to the cryptocurrency space. As an NFT blockchain, the price of Ethereum has dropped 40% from $4,800 to below $3,000. Like Bitcoin, holders of ether during the 2018 crypto winter also saw ether rise to $1,400 in 2017 before falling below $200 in the following months. However, with the rise of NFTs and mainstream acceptance and the imminent arrival of Ethereum 2.0, there are a number of factors that could propel Ethereum back to its 2021 highs. Many believe that by 2025, Ether will reach five figures (over $10,000), and some even think its price will exceed $20,000.
Prediction of XRP Ledger (XRP)
After rising above $1.80, XRP fell 65% to $0.60 today. But not to be underestimated, XRP is one of the few cryptocurrencies that has managed to maintain the top 10 consistently four years after the ICO boom of 2017. While Ripple is currently in the midst of a legal battle with the SEC, XRP remains arguably the most time-tested cryptocurrency. Price predictions in the XRP community vary widely, with some believing that the cryptocurrency will stay below $5 until 2025, while others believe it will top $10 and even reach $20.
Prediction of Polygon (MATIC)
At an average price of $0.03 at the end of 2020, MATIC’s cryptocurrency rose all the way, and rose to nearly $3 on Christmas Day. After 30 days, its price fell by nearly 50%. Polygon is the next generation blockchain representative, offering Layer 2 scaling solutions for high transaction throughput. As more users join the cryptocurrency space, the demand for the solutions proposed by Polygon will also increase, and the demand for its services will continue to increase. Bullish investors see MATIC reaching $10 in the next 5 years and possibly $20 in the late 20s.
Prediction of Cardano (ADA)
ADA price surged to nearly $3 before briefly dropping below $1 in early 2024. Cardano simultaneously implements the Alonzo hard fork and introduces several new projects in 2021. Still, Cardano has yet to successfully grab mainstream attention. Although new projects are being pursued, none have received mainstream attention. Most experts believe that ADA will stay below $5 for the next five years, but it has the potential to rise to $10. Some believe that if the eventual ADA ecosystem does not gain mainstream adoption, there is a risk of falling below $1 overtime.
Prediction of Litecoin (LTC)
In 2021, Litecoin is slightly above its 2017 high, near $400. The price of Litecoin has since fallen 75%, falling below $100 at one point. Once compared to silver, just as Bitcoin was compared to gold, Litecoin is relatively new compared to other cryptocurrencies. Still, some people are drawn to the platform with such updates as its team continues to improve internet speeds, reduce costs, and improve security. However, it is unlikely to be the platform of choice for the majority. Experts predict that Litecoin will grow steadily over the next five years, and many proponents believe it will eventually trade between $200 and $300.
Prediction of Dogecoin (DOGE)
What was once a parody currency is now one of the hottest and most valuable cryptocurrencies in the world. Winning mainstream market attention with its lovable mascot and support from Elon Musk, Dogecoin hit an all-time high of nearly $0.70 in 2021. Even with 20% of its heyday trading today, Dogecoin shows no signs of dying out. With Tesla recognized as a payment method and Elon Musk frequently tweeting about the currency, many experts believe that Dogecoin will break the $1 barrier when it finally joins the mainstream.
Prediction of Shiba Inu Coin (SHIB)
Comparable to Dogecoin, the price of Shiba Inucoin will also grow at an astronomical level in 2021. The price will stay at the initial $0.00000004 for most of 2021, and its price will eventually reach as high as $0.00008. In terms of celebrities, Shiba Inu Coin is related to Vitalik Buterin, who once destroyed 410 trillion Shiba Inu Coins in one go. Vitalik also donated a considerable amount of Shiba Inu coins during the epidemic, of which $100 million was recently returned to him. Against this backdrop and Vitalik’s continued interaction with Shiba Inu, we may see the coin continue to climb in 2022 and beyond.
Invest in Shiba Inu Coin (SHIB)
Prediction of Binance Coin (BNB)
BNB has many applications both inside and outside Binance. In 2021, the price of BNB rose to nearly $700, but then continued to fall below $400, wiping 40% of the price. Nonetheless, the fact that cryptocurrencies have entered the mainstream cannot be ignored, and the role of BNB in the future is still quite important to those who wish to buy, sell and trade cryptocurrencies. It can be used to settle transaction fees, pay travel expenses, borrow money, issue rewards, etc. With its functions and the continuous expansion of the entire industry, the future of BNB is bright. Experts believe that Binance Coin could eventually surpass $1,000 – some even believe it could top $2,000 within the next five years.
Prediction of cryptocurrency trends for 2022 and the future
The “cryptocurrency crash” that occurred in early 2022 is an event that many people who have been involved in the cryptocurrency industry for a while have experienced. Similar to the 2018 crash, it remains to be seen whether the cryptocurrency world is at the beginning of another winter in the near future, or if it will bounce back this year.
However, as blockchain technology and cryptocurrencies continue to develop and demonstrate new advantages, features and capabilities – the likelihood of mainstream adoption in the next few years looks more and more likely.
Demand for cryptocurrencies as a whole looks to be on the rise after people start adding this new asset type to their portfolios and use it to perform on-chain transactions. As a result, the total cryptocurrency market capitalization is expected to exceed the 2021 high of $3 trillion, and Bitcoin is also expected to achieve its vision as digital gold, breaking the price of $100,000. And other cryptocurrencies that drive infrastructure and everyday life will rise as a result.
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April 24, 2024
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