While Bitcoin remains above $45,000, many analysts and research companies think that the BTC price will continue to increase.
At this point, the latest predictions came from the cryptocurrency analysis company Nansen.
Sharing their predictions for 2024, Nansen analysts said that there is a higher probability that cryptocurrency prices will remain positive in 2024.
However, analysts warned investors to continue to be cautious and listed the possibilities that may occur in 2024.
“First Possibility: Inflation Decline and Bitcoin Rise”
Stating that the first scenario regarding the macroeconomic picture and cryptocurrencies is “Soft Landing”, Nansen analysts said that this is the most likely scenario.
“According to this scenario, inflation will fall to 2% without an increase in unemployment rates.
In this case, BTC will reach the previous ATH or experience an increase between 20% and 50%.
“Bitcoin and cryptocurrency prices increasingly reflect this scenario.”
“Second Possibility: Re-acceleration of inflation”
Stating that the market does not expect this scenario, analysts said that if this scenario occurs, Bitcoin may revisit the lowest levels of 2021-2022.
According to analysts, the probability of this scenario occurring is between 10-20%.
“Third Possibility: Recession”
Stating that this scenario is unlikely to happen, but it is still among the possibilities, analysts said that if a recession occurs, there may be a 60% decrease in BTC prices.
“Recession is unlikely, but still a possibility.”
Analysts also added that the state of the Chinese economy, the consequences of geopolitical conflicts such as the Ukraine conflict, and the US Presidential elections could affect these three scenarios.
Finally, Nansen analysts also state that the interest in DEXs will gradually increase and expect DEXs to become more dominant.
“We expect 2024 to be the year of the DEX, and while Binance and other leading CEXs lose market share, more tightly regulated CEXs like Coinbase will continue to gain market share.”
*This is not investment advice.