From Nasdaq, Inc.:

Andrew Kang of Mechanism Capital predicts substantial demand flows into Bitcoin for 2024, placing it in the $40-130 billion range, noting that global wealth has the potential to spill over into the cryptocurrency sector. He also highlights that “true believers” could put 50% or more into Bitcoin, dwarfing all sell flows.

Cryptoquant CEO Ki Young Ju and Syncracy Capital’s Daniel Cheung also express optimistic sentiments, with Cheung predicting that this bull cycle could be the largest in terms of market cap creation and duration, citing factors such as alignment with the Fed’s easing cycle and increased institutional buy-in.

However, positional trader and investor Bob Loukas points out the absence of Bitcoin or crypto commercials during the Super Bowl, suggesting that the market is still in its early stages. Kang raises the question, “What is the bear argument here?” as the next 12 to 24 months will reveal whether the strong belief in Bitcoin’s continued upward trajectory was warranted.



Read more: Bitcoin Inflows Could Reach $130B In 2024, Says Crypto VC: ‘What Is The Bear Argument Here?’