"Hmm, I hope it's true, I'm afraid of letting the investors down later."
The entire crypto market is predicted to grow significantly in the coming year as there is evidence of an increase in the total market capitalization and the number of users who own digital assets worldwide.
Through observation, the total market capital is expected to rise up to $3.2 trillion if global crypto owners are able to raise 850 to 950 million from 575 million.
Bitfinex analysts strongly believe that the bull run for the crypto market will have great potential and could turn BTC into a multi-trillion dollar asset class that offers significant value to investors.
This is because BTC dominance will continue to grow and institutions may invest in BTC at least until the first six months of next year, plus there is an expected approval of spot BTC ETFs by January 2024.
BTC Miners are preparing themselves for the BTC halving event scheduled for April 2024 where it will halve the block reward including reducing the BTC production rate.
It is well known that analysts expect the inflow of mining exchanges to remain low for most of 2024 as miners predict that the price of BTC will see a rise after the halving event.
But as the digital asset ecosystem in total market capitalization expands, the use of BTC and crypto will rise to new heights causing the number of digital asset owners worldwide to reach new highs.
Pleased to note that El Salvador and Lugano which recognize BTC as legal tender have launched several BTC-themed projects while Argentines are turning to digital assets amid rising inflation rates and economic volatility.
