To celebrate the Christmas season, we should bring some green into our morning routine to counteract all of that red.
Thomas Perfumo, a Kraken employee who warned last week of possible pullbacks before the holiday season seems to have been right. The question is whether or not the sellers will counteract their selling.
Or, I should say that I am not here to discuss the markets. Or I would say that I am not here to talk about the market.
Coinbase Institutional has released their market forecast for the coming year.
David Duong (head of research) noted that in a recent note, the uptrend for 2024 has already shown signs. “stark” The landscape is different from previous cycles. “promising” still.
VanEck said in its forecasts that they believe the bull-market will last next year. The peak is expected to be around $180,000. Then, after that they are expecting a 30% drop in bitcoin. Altcoins might even see double the amount.
“A recovery is likely in the fall, with major tokens regaining momentum and reclaiming previous all-time highs by the end of the year,” VanEck wrote.
Coinbase Institutional was bullish even though they saw a possible decline.
“As the regulatory and technological landscapes evolve, we expect to see substantial growth in the crypto ecosystem as wider adoption drives the industry closer to achieving its full potential. This will be a pivotal year. The breakthroughs and advancements of 2025 may very well help shape the long-term trajectory of the crypto industry for decades to come,” Duong writes.
We’ll zoom in to a question which I’ve been asking a lot of people. Can ETH comeback?
ETH has been lagging, as it watches bitcoin and solana reach new highs.
Duong, along with his team, believe that in the long term the growth of Ethereum L2 will be a positive thing. “boon,” It’s still not certain if this will be sufficient to help ETH on a short- to medium-term basis.
According to 21Shares’ predictions report, Solana continues to devour Ethereum.
“While we don’t anticipate a full ‘flippening,’ Solana is primed to outperform and capture more market share from Ethereum through improved UX and infrastructure,” The analysts at 21Shares have written a report.
Ethereum has also been dubbed the “premier cryptocurrency”. “revenue renaissance” Beginning next year,
“Web2 firms like Robinhood and PayPal, along with traditional finance entities like Visa, are likely to launch their own L2s, leveraging cost-efficiency and scalability to unlock new revenue streams and serve a growing demand for decentralized applications,” “They said.”
Perhaps things aren’t as bad as they seem.
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