Quick Take
At the end of 2023, VanEck made 15 ambitious predictions for the digital assets market in 2024. Here’s a look at how some of these predictions have fared so far.
1. The US Recession and the First Spot Bitcoin ETPs
Prediction: The US would enter a recession in the first half of 2024, and the first spot Bitcoin ETPs would launch with significant inflows, keeping Bitcoin above $30,000.
While the US recession has yet to materialize, the inverted yield curve, the longest bond market inversion in history, remains a strong recessionary signal, according to VanEck.
Meanwhile, Bitcoin ETFs have shattered records, with $14.5 billion in inflows keeping Bitcoin’s price above $30,000. Bitcoin has mostly traded above $60,000 since March, with few exceptions.
US Yield Curve now inverted for record length: (Source: VanEck, Bloomberg)
2. Bitcoin Halving
Prediction: The Bitcoin halving in April 2024 would proceed without major issues, with Bitcoin trading above $48,000 after the event.
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