U.Today - Popular cryptocurrency trader, author of his own newsletter and a crypto podcaster Scott Melker has published a post on the Twitter/X platform, making an optimistic prediction for the for 2025.
Melker shared a price prediction, but then he specified that the price level he believes to occur was not for Bitcoin but for the by market capitalization value — Ethereum; and it was an ambitious $12,000 per coin.
During the last week of 2023, a popular cryptocurrency YouTuber Lark Davis also made a bullish prediction for the Ethereum price, but it was a little lower — $10,000 — and Davis did not specify when more or less exactly he expects that price level to be achieved.
However, what Davis did share was 10 reasons why he expects cryptocurrency markets to explode in 2024.
Ten reasons why crypto markets may surge in 2024, per Davis
Lark Davis provided 10 important reasons why he believes that this year. The first on his list was the fact that stock markets are going parabolic right now with all the major market indexes growing. As a result, people are making a lot of money and have spare cash to invest in cryptocurrency in the near future.The second one was the likely approval of Bitcoin ETFs by the SEC regulator. He expects it to happen in Q1, which could be either in January or in March, if the SEC delays it in January.
Among the other reasons mentioned by Davis was the expected victory of the Coinbase (NASDAQ:COIN) exchange over the SEC in court; should this happen, this will indicate the ultimate loss suffered by the regulator in court. In 2023, the SEC was beaten by Grayscale and by Ripple Labs, when the judge ruled that secondary sales of XRP did not qualify as security sales. Besides, the SEC on its own initiative dropped personal cases against Ripple chief Brad Garlinghouse and its co-founder and former CEO Chris Larsen.
Davis also named the upcoming fourth Bitcoin halving event in April this year and a massive wave of games based on Web3 where cryptocurrencies will be utilized as in-game currencies. Besides, the U.S. Fed considers starting to cut down interest rates this year.