It is already the 2nd day of 2024. I remember writing last year at this time, we were at what now we know was the worst of the crypto decline in value. I mean, at the end of December 2022 Bitcoin was roughly $15,000.
What a difference a year makes! Last year at this time, I predicted the bull run would start around August of 2023. I was off by a few months. Not bad I guess in the grand scheme of things.
This year, I predict the bull run continues, with a few major drops in prices along the way. We will definitely see all time high's (ATH) for Bitcoin, Solana, and possibly even Cardano. I mean this article: https://ambcrypto.com/chatgpt-ada-price-prediction-dec-31/ discusses how ChatGPT predicts Cardano will gain 25x. Yeah, you read it, 25 times!! I am not going that far. I think in the long run Cardano is a goldmine if you have bought low. I know I am "in the black" when it comes to Cardano already, with a nearly 50% profit (if I were to sell now, and that ain't happening).
I do think we will have one more major crypto failure. I can't say what I think will fail. I hinted at Binance's issues last year. Maybe it will be them, further falling from grace. However, more likely I think a cryptocurrency stablecoin will fail this year. I hope not, but i have that feeling.
I also think the year will be a turning point for cryptocurrency in terms of the general public. I think people will be more willing to take it seriously. I think the SEC is put in it's place through legislation and losses in the courts. I don't think they can sustain leading from behind when it comes to cryptocurrency any longer. I mean, making things up as they go has not been successful. Even in the shady government, where there is no real accountability, Gensler will be done if he continues to have the losses pile up.
Finally, something I can't predict but know will be immensely important for cryptocurrency in the United States. This is a presidential election year. We all know the Democrats are anti-cryptocurrency. In any other time in the history, this election would be a landslide for the opposing party with a sitting president widely disliked. However, in this day and age. Who knows what is going to happen. I mean, the Democrats are trying to hand the presidency to Donald J Trump with their anti-democracy behaviors in states trying to take him off the ballot. I mean, the man lost to the lifeless Joe Biden the last time around given President Trump's toxicity. If the republicans win, it will be a boon for cryptocurrency. I am not taking a political side here, just writing about what I see are facts.
Enjoy 2024, I am looking forward to the ride!