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VanEck’s Bitcoin Forecast for 2024 Stuns with Spot-On Predictions – Crypto News BTC

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VanEck’s 2024 Digital Asset Market Predictions: A Mid-Year Review

VanEck’s Bold Predictions for the Digital Asset Market in 2024: A Mid-Year Update

As we approach the halfway mark of 2024, let’s take a look at how some of VanEck’s bold predictions for the digital asset market are faring. At the end of 2023, VanEck made 15 predictions for the year ahead, and so far, many of them have been surprisingly accurate.

1. The US Recession and the First Spot Bitcoin ETPs:
VanEck predicted that the US would enter a recession in the first half of 2024, and the launch of the first spot Bitcoin ETPs would help keep Bitcoin above $30,000. While the US recession has not materialized yet, the inverted yield curve remains a strong recessionary signal. However, Bitcoin ETFs have seen record inflows, with $14.5 billion keeping Bitcoin’s price above $30,000.

2. Bitcoin Halving:
VanEck predicted that the Bitcoin halving in April 2024 would go smoothly, with Bitcoin trading above $48,000 post-event. This prediction was accurate, as Bitcoin has not dropped below $55,000 since the halving. The launch of Runes also set new records for BTC fees and initiated a miner capitulation phase.

3. Bitcoin’s All-Time High in Q4:
VanEck forecasted that Bitcoin would reach an all-time high in Q4 2024, driven by political changes and regulatory optimism. While Bitcoin hit its peak earlier in March, the prediction was directionally correct.

4. Ethereum Won’t Flip Bitcoin in 2024:
VanEck also predicted that Ethereum would not surpass Bitcoin in market cap but would outperform mega-cap tech stocks. This prediction has held true, with Ethereum outperforming major tech companies like NVIDIA, which has seen significant gains over the past year.

Overall, VanEck’s predictions have scored an impressive 95 out of 150 possible points, showcasing the firm’s deep understanding of the rapidly evolving crypto market. Stay tuned for more updates as we continue to track the progress of these predictions throughout the year.

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