Leading cryptocurrency exchange Bitfinex has published optimistic forecasts for the crypto market in 2024, predicting significant growth in market value and a significant increase in global cryptocurrency users.
Bitfinex Predicts Crypto Market to Double Market Cap in 2024
According to Bitfinex, the total market cap of the cryptocurrency market is expected to rise from the current $1.6 trillion to an impressive $3.2 trillion by 2024.
In addition, the exchange foresees a significant increase in the number of global cryptocurrency users, predicting an increase from the current 575 million to the range of 850-950 million.
On the other hand, Bitfinex thinks there will be a significant increase in institutional investments in cryptocurrency assets.
Institutional players, including traditional financial institutions and large corporations, are expected to increase their participation in the crypto space, driven by factors such as the search for higher returns and the maturation of the cryptocurrency market.
The exchange describes spot Bitcoin ETFs as a key catalyst for increased institutional investment in the crypto market.
He expects the launch and adoption of spot Bitcoin ETFs to contribute to overall market growth by providing institutional investors with access to Bitcoin through more accessible and regulated means.
*This is not investment advice.
