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TruBit 2024 Outlook Report - The Road Ahead

Greetings from the TruBit team!

Big thanks to all TruBit users for being with us this year. We hope you liked reading our articles and using TruBit & Pro to trade, spend, and earn more! We really enjoy making this product for you.

Hoping you all had a lovely holiday, and we're excited about another awesome year together with you in 2024!

Recap 2023 Crypto Market

We have learned to operate conservatively through a tough market in 2023. For most part of this year, the market is in the bear situation but toward the end of the year, multiple news brought a hype and we saw the crypto market had a remarkable transformation. This growth suggests a significant shift from the previous slow phase, moving beyond the crypto winter. While it’still early to define this trend conclusively, the market's resilience and advancement are clear indications of its staying power. Year of 2023 has been about overcoming challenges and setting the stage for further innovation in the crypto world.

Crypto Market Expansion & Record-Breaking Rise

The cryptocurrency landscape in 2023 has witnessed remarkable growth, with leading tokens like Bitcoin, Ethereum, USDT, and SOL at the forefront. This surge in value, particularly noticeable in Bitcoin and Ethereum, aligns with the overall market trend, where ten major marketcap tokens have made significant strides. Among these, stablecoins have also seen a notable rise in their market cap, thanks to the burgeoning development of the crypto area. This trend is not just about numbers; it highlights the escalating prominence of cryptocurrencies in the financial world, outshining traditional assets in 2023.

Source: CoinMarketCap

Widening Bitcoin Adoption: A Shift to Mainstream

2023 has been a landmark year for Bitcoin, signaling a shift towards wider adoption and increasing interest from new investors. Glassnode's data reveals a rise in smaller Bitcoin holdings (more than 0.01 BTC), a testament to the growing engagement from retail investors. Despite the volatility in the financial markets, Bitcoin has carved out a reputation as a secure and attractive investment option, capturing the attention of mainstream investors. This transformation underscores Bitcoin's journey from being a niche asset to becoming a key player in the mainstream financial arena.

Source: Glassnode

Bitcoin's Rise: Shaping the Future of Institutional Investment

Bitcoin's recent achievements extend far beyond just expanding its market. It's sparked a major shift in how big financial players and public companies approach and invest in cryptocurrencies. These institutions now hold significant amounts of Bitcoin, showcasing a surge in overall investor confidence. A key factor in this change is Bitcoin's skillful integration of new financial offerings into its decentralized setup, attracting interest from both long-established financial institutions and major public companies.

Even with market ups and downs, these traditional financial giants are doubling down on Bitcoin, as seen in their growing investments, especially those with large Bitcoin portfolios. The consistent flow of investment from these influential players, along with a spike in interest from institutions as the year ends, highlights Bitcoin's strength and its growing popularity in the ever-evolving cryptocurrency market.

Source: Buy Bitcoin Worldwide

2024 Macro Economy Forecast

Looking ahead to 2024, economic indicators in the United States signal a potential shift towards a strong bull market. The Federal Reserve is likely to halt interest rate hikes, with a possibility of reductions, which bodes well for the economy, especially in an election year. While a slight uptick in unemployment is expected, largely due to changing workforce demographics, the overall economic outlook remains optimistic with projections of robust GDP growth to 2.5, driven by stable consumption, disposable income growth, and a resilient labor market.

Source: Goldman Sachs Global Investment Research, Bloomberg

Guiding the Economy a Smooth and Stable Soft Landing

Recently, The Federal Reserve (the Fed) is working on steering the economy through these choppy waters, especially as they try to keep inflation in check. As we're getting over the inflation, the usual economic rules are starting to apply again. One key thing to watch is how higher interest rates might slow down economic growth. Keeping these rates high for a long time can be hard on businesses, especially smaller or private ones. This could mean slower growth in business and fewer new jobs. On the brighter side, the US has been doing better than expected when it comes to getting things done efficiently and having enough people ready to work. This has helped ease some of the job market pressures, even though the economy has been growing faster than usual.

New Path of Fed Funds Rate Cuts

The Federal Reserve is leaning towards potential interest rate cuts in Q1 2024, despite Chair Jerome Powell's caution. After a series of rate hikes from March 2022 to July 2023, the Fed recently kept rates between 5.25% and 5.50%. Market sentiment is shifting towards expecting rate reductions, with Treasury bond yields dropping. The latest Fed forecasts suggest three rate cuts in 2024, potentially lowering rates to 4.50% to 4.75% by year-end, with a possibility of up to six cuts, reaching 3.75% to 4.00% by late 2024. This shift reflects expectations of declining inflation, with core PCE inflation expected to drop from 3.5% in October 2023 to 2.4% by March 2024.

Powell acknowledges the possibility of rate cuts even before hitting the 2% inflation target if the path is clear. Additionally, current rates are viewed as restrictive compared to the Fed's long-term expectation of 2.5%, potentially requiring significant normalization, even without a recession, especially if core PCE inflation falls to 2% year-over-year in Q4 2024, below the Fed's 2.4% forecast.

Source: MorningStar

Bitcoin - Growth and Mainstream Adoption

We see that 2024 is going to be a landmark year for Bitcoin, attracting significant interest from both institutional investors and everyday users. Enhanced regulations are making cryptocurrencies more accessible and reliable, with Bitcoin leading the pack. Despite the emergence of GameFi, DeFi, and NFTs, Bitcoin's value, surpassing $43,000, signals its growing popularity. Efforts to simplify Bitcoin usage, alongside the anticipated launch of Bitcoin ETFs, are expected to mainstream Bitcoin investment. The halving event in April 2024 adds further intrigue, particularly with the volatile economy, emphasizing Bitcoin's growing importance in the diverse world of cryptocurrencies.

Crypto users will boom in 2024

Cryptocurrency markets are optimistic about significant user growth in the crypto sector for 2024, with Statista estimates ranging between 850 and 950 million users contingent upon favorable market conditions. Despite the challenges faced by cryptocurrencies in 2023, foresee continued industry expansion, possibly reaching nearly 800 million users in 2024, underscoring the growing global interest in crypto assets.

Source: Statista

Weak US Dollar Index & The Rise of Bitcoin Dominance

In early 2024, we observed a significant decline in inflation, largely attributed to the Federal Reserve's monetary strategy. This downward trend, coupled with a slight economic slowdown, points to a weaker US Dollar Index in 2024, which is likely to create favorable conditions for cryptocurrencies. Trading View data suggests an inverse relationship between Bitcoin and the US Dollar Index, indicating that a positive economic climate with lower inflation and a weaker dollar is beneficial for the crypto market in 2024.

Notably, Bitcoin's dominance is expected to exceed 60% for the first time since Q1 2024. Despite the potential for diversification into riskier assets, a strong institutional focus on Bitcoin is anticipated at least until mid-2024. The growing interest from traditional investors and the general public further reinforces Bitcoin's dominant position in the near future.

Source: Trading View

Bitcoin ETFs: Paving the Way for Institutional Investment

In early January 2024, the crypto world is abuzz with the possibility of Bitcoin Exchange-Traded Funds (ETFs) getting the green light. This could be a game-changer, much like how the gold market boomed. What makes this so exciting for investors, especially those looking at long-term options like retirement funds, is that Bitcoin might become a mainstream investment choice. This isn't a done deal yet, as the U.S. Securities and Exchange Commission (SEC) is still weighing its decision. But if it goes through, it means big-time investors could start pouring money into Bitcoin while it stays true to its original vision. It bridges the gap between traditional investment methods and the new digital asset world.

Throughout 2023, there were some significant moves in this direction, with major financial players applying for Bitcoin spot ETFs. The SEC has been carefully reviewing these applications, which involves a lot of scrutiny, public input, and maybe even some changes to the proposals. Despite the hurdles and the wait, as of January 2024, things are looking more favorable for these ETFs to get the nod. The crypto community is on the edge of their seats, hoping for a positive decision.

Source: CoinoTag

Bitcoin Halving: Catalyst for Market Transformation

The anticipated Bitcoin halving in April 2024 is set to decrease mining rewards, a move expected to significantly impact Bitcoin's market value. This event, coupled with the potential approval of Bitcoin ETFs, could lead to a substantial surge in Bitcoin's price, mirroring previous halving events. The mining community is preparing for this change, with an increased hash rate and rising Bitcoin prices potentially offsetting the reduced block reward, underscoring Bitcoin's resilience and appeal.

Source: IG Group

Enhancing Bitcoin's Network: Layer 1 & Layer 2 Developments

In 2024, Bitcoin's scalability remains a critical focus, with significant advancements in both Layer 1 and Layer 2 solutions. The ongoing evolution of Bitcoin is marked by a commitment to extending its capabilities while preserving its foundational stability and decentralized ethos. Layer 2 protocols, including the Lightning Network and emerging sidechains, are at the forefront of this evolution. These protocols are designed to enhance Bitcoin's functionality, offering interoperability and additional features without making tradeoffs or compromising the network's decentralization. Bitcoin's approach to scaling involves a modular architecture that mirrors its ethos of minimal trust and maximal capability extension.

The base layer remains simple and unchanged, ensuring permissionless access, while layered protocols build upon this foundation to provide a range of applications. These include fast payments, sophisticated smart contracts, and features that require high throughput and privacy, all leveraging Bitcoin's inherent durability. The layered structure allows Bitcoin to maintain its stability as a settlement base layer, while simultaneously fostering innovation and versatility in higher layers to meet diverse needs.

Rootstock, Stacks Integration, and Lightning Network Evolution

In 2024, Bitcoin's capabilities are being significantly augmented through the integration of Rootstock (RSK), Stacks, and advancements in the Lightning Network (LN). RSK enables more complex transactions, ensuring high security and throughput by utilizing merged mining with Bitcoin, despite challenges in broad user adoption and miner support consistency.

Stacks contributes by introducing smart contracts and a robust development ecosystem, marked by significant recovery in its native token STX and the introduction of key upgrades like decentralized mining and Bitcoin bridges. However, Stacks also faces its own set of adoption challenges. Complementing these advancements, the Lightning Network (LN) has shown remarkable growth in 2023, further enhancing Bitcoin's functionality. Over 5,400 BTC, valued at over $230 million, flowed through LN's payment channels, a significant leap from the 1 BTC capacity in 2018. This expansion was supported by the emergence of over 70 LN-enabled wallets and was further bolstered by the launch of the Taproot Asset Protocol v0.2.

The Emergence of Ordinals and BRC-20 Protocols

In 2024, the Bitcoin ecosystem has undergone significant transformation with the launch of the Ordinals and BRC-20 protocols, both leveraging the Taproot upgrade's expanded data capabilities. The Ordinals Protocol, introduced in early 2023, has redefined Bitcoin's smallest unit, satoshis, turning them into data-rich assets capable of hosting unique digital artifacts and NFTs. Building seamlessly on this foundation, the BRC-20 protocol further enhances Bitcoin's tokenization landscape by enabling the creation of unique tokens with advanced functionalities like JSON data embedding.

This is highlighted by the launch and rapid market cap growth of the $ORDI token. These advancements not only expand Bitcoin's utility in digital collectibles and complex DeFi architectures but also spur critical discussions about the implications for protocol centralization, numbering schemas, and the broader impact on Bitcoin's transaction fees and scalability.

Source: Galaxy Research

AI & Crypto - A Potent Combination on the Horizon

In the realm of technology, AI and cryptocurrency are powerful forces, each with its unique strengths and weaknesses. However, a thoughtful integration of these two groundbreaking technologies holds the potential to address each other's shortcomings. We are witnessing a rise in projects that merge AI and web3 technologies, incorporating elements like monetization, provenance tracking, and digital content attribution. As AI's capacity to generate content surpasses human capabilities, we may soon rely on on-chain attestations for content verification. Additionally, AI agents are poised to handle most on-chain payments, simplifying transactions for users. Furthermore, AI is set to assist in code audits for smart contract creation, making DeFi protocols more secure.

The convergence of crypto and AI promises significant potential, despite the initial hype-driven projects. Whether it's AI agents navigating crypto markets, decentralized compute protocols offering GPU access, or blockchain projects transforming into AI marketplaces, the possibilities are vast. While the exact use case that sparks adoption remains uncertain, the fusion of crypto's freedom with AI's capabilities presents an exciting opportunity that we'll closely watch in 2024.

What is AI? What are the application areas of AI?

Artificial intelligence is a technological system that mimics human intelligence. It enables machines to learn, understand, reason and solve problems by mimicking the human mindset and ability to perform tasks. Meanwhile, with the development of the times, artificial intelligence occupies an increasing part in our daily life.

AI drives cryptocurrency trading strategy optimisation

The volatility and complexity of the cryptocurrency market makes the development of trading strategies extremely important. Smart algorithms of Artificial Intelligence can optimise the benefits and returns of trading strategies by analysing huge amounts of historical trading data and identifying potential patterns and trends. The application of machine learning and deep learning technologies could make trading decisions smarter and more accurate, helping investors to achieve better returns on their investments in the cryptocurrency market.

We can see that AI could drive strategy optimisation for cryptocurrencies in the following ways: Data analysis and prediction, Automated trading, High-frequency and Algorithmic Trading, Risk Management and Model Optimisation and finally Sentiment analysis and opinion monitoring.

How Is AI Used in the Cryptocurrency Industry?

AI is the technology that enables machines or computers to exhibit human-like intelligence, i.e. take certain inputs, understand the goal, and enact actions or decisions that achieve that goal, in a fully automated way.

And crypto is no exception, much like AI, the blockchain and cryptocurrency industry is branching out in multiple directions: decentralized finance, decentralized autonomous organizations, NFTs, the metaverse, and so on. And AI can play a significant role in shaping the future of these technologies.

There are some projects or area already combing AI and Cryptocurrency:

1. SingularityNET

Founded in 2017, SingularityNET ($AGIX) is an AI-focused project based on the Proof-of-Stake blockchain Ethereum, with plans to launch on the third-generation blockchain Cardano.

1. Community-Funded AI Projects

Users on the platform can also create requests for specific kinds of AI tools, which the developers can then work on and get paid for it.

1. Data Tokenization

Ocean Protocol ($OCEAN) packs data in the form of data NFTs and data tokens, which can be used across wallets, exchanges, and DAOs that support ERC721 and ERC20 tokens

1. AI Blockchain Explorer

The Graph ($GRT)is a blockchain indexing protocol that aims to solve this problem. It's like the next stage of a block explorer, and it allows developers to query a blockchain for all kinds of complex data. There are various subgraphs (an alternative term for open APIs coined by The Graph) within The Graph’s ecosystem, each of which can extract data based on different queries or filters.

1. Incentivizing Data Sharing

The Data Farming program, powered by the platform’s native token OCEAN, ensures data providers have the incentive to share their data. Users can also use OCEAN for staking and governance votes.

The project's USP of using crypto and blockchain tech to level the playing field for AI businesses is one of the strongest examples of AI and crypto integration.

Future of AI and Crypto

Despite how rapidly AI has grown over the last few years, it is far from achieving its full potential. As we all see, AI and crypto are currently being used to innovate data sharing, supply chains, crypto trading, marketplaces, blockchain querying, and more.

However, as AI becomes smarter over, we'll see a host of other projects using AI and cryptocurrency for more innovative solutions across industries.

Web3 Games & NFTs

In the rapidly evolving landscape of cryptocurrency, several key trends are set to shape the year 2024. The anticipation revolves around Web3 games, which are expected to attract a substantial influx of new Web3 users. These games signify the logical evolution of Web2 gaming experiences, promising enhanced quality and engagement.

Web3 Games Driving User Adoption

5.1.1 Decentralized Governance

Web3 games generally embrace decentralized governance models, which distribute control among players, in stark contrast to the traditional model where developers and publishers dominate. Players now have the freedom to trade assets, and the ability to earn cryptocurrency through their games. The most remarkable shift consists of the participation of players in game development and decision-making processes through voting mechanisms. This not only empowers the community but also fosters a sense of ownership and responsibility among players.

5.1.2 Tokenomics and In-Game Economies

Web3 games commonly incorporate tokenomics, where in-game assets are tokenized, ensuring transparency, traceability, and true ownership for players. Through in-game activities such as completing quests, achieving milestones, or contributing to the game community, players are able to earn tokens and use them to purchase in-game items, unlock special features, or even trade with other players within the game's ecosystem. These play-to-earn models, allowing players to earn real value through their in-game activities, thus introducing a new dimension to in-game economies, allowing for the creation of value within the gaming ecosystem.

5.1.3 Cross-Platform Interoperability

Tokens earned or purchased within one Web3 game can often be interoperable with other games in the Web3 ecosystem. This cross-game compatibility enhances the value of tokens, as players can use them across multiple gaming platforms, fostering a broader interconnected gaming economy. On the other hand, players can seamlessly transition between different devices and platforms while retaining their in-game assets and progress. This flexibility enhances the accessibility and inclusivity of the gaming experience.

5.1.4 Community-driven Development

Many Web3 games feature decentralized marketplaces where players can buy, sell, and trade in-game assets directly with each other. This peer-to-peer marketplace is governed by smart contracts, ensuring secure and transparent transactions while empowering the gaming community. Additionally, all the feedbacks, suggestions, and contributions from community are highly valued, thus creating a collaborative development environment where the community plays a crucial role in shaping the game's future.

NFTs as Ubiquitous Brand Assets

The crypto sphere is poised for significant developments in Layer 1 and Layer 2 solutions, with a surge in developer activity, an increase in Total Value Locked (TVL). This momentum is indicative of the crypto industry's ongoing commitment to innovation, offering improved user experiences, incentivization models, and sustainable business strategies, particularly in the realm of consumer-oriented applications.

Moreover, the trend of affordable NFTs for extensive collections is gaining traction, particularly through custodial wallets and Layer 2 blockchains with low transaction costs. This trend positions NFTs to become integral digital brand assets for a wide array of companies and communities in the coming year, reflecting the ongoing innovation and evolution in the cryptocurrency landscape.

1. Monetization and Collaboration Opportunities

NFTs have brought new revenue streams for brands. They can create limited edition NFT drops, offering a scarce and exclusive collection to their audience. The limited availability of these digital assets can generate a sense of urgency and FOMO (Fear of Missing Out), driving increased demand and potentially higher prices on the secondary market. Also, brands can leverage NFTs to offer unlockable content or experiences. For instance, purchasing an NFT could grant access to exclusive behind-the-scenes content, virtual events, or premium features within a brand's digital ecosystem. This adds significant value to the NFTs and encourages collectors to make purchases.

Beyond the monetization aspect, there exists a mutually beneficial mechanism: brands can collaborate with artists, influencers, or other brands and distribute revenues among collaborators. The collaborations not only expand the reach of brand NFTs but also bring diverse creative perspectives into the digital assets, making them more appealing to a wide and varied audience.

1. Co-Creation and Customer Loyalty

Non-Fungible Tokens (NFTs) are solidifying their position as brand strategies to engage mainstream consumers. Beyond being collectibles or representing ownership, NFTs play a role in co-creation with dedicated enthusiasts.

They can serve as tools to represent customer identities and are widely used in loyalty programs and other creative applications, which emphasizes the potential for NFTs to go beyond traditional marketing approaches, fostering a deeper connection between brands and their audience. The whole trends has signified a shift towards using NFTs not just for digital ownership but also as tools for customer representation and brand loyalty.

1. Affordability and Accessibility of NFTs

A noteworthy sign is the increasing popularity of affordable NFTs for extensive collections. This is facilitated by Layer-2 solutions, which provide faster confirmation times and reduces latency frequently occurring on Layer-1 , thus enhancing scalability and lowering the transaction costs. As Layer-2 integration refines the overall user experience by ensuring seamless and responsive interaction for users with digital collectibles and other branded initiatives, it opens the door for broader audience engagement with NFTs, and it's believed that there is boundless potential waiting to be tapped.

1. Digital-Physical Bridge
2. The integration of NFTs is helping bridge the gap between the physical and digital worlds. By creating and distributing NFTs, brands can strengthen their relationships with fans, potentially tying charitable initiatives or social impact causes to certain NFT releases. This trend showcases the versatility of NFTs in enhancing brand experiences.

Cryptocurrency Regulation - Global Advances in Forward-Thinking

In 2024, a global race continues among parties like the UK, LATAM, UAE, Japan, Hong Kong, and Singapore to establish credible regulatory frameworks for digital assets. Governments worldwide acknowledge the permanence of crypto, and this influences U.S. crypto policy positively. Despite some lag, global progress suggests proactive crypto policy development is inevitable. As the crypto industry matures, regulatory frameworks prioritizing customer protection and fostering innovation are essential. This ensures strength and resilience, even as opinions on crypto and blockchain technology differ.

Brief Overview of Crypto Regulation in Different Regions

1. European Union

The EU has taken a significant step with the passage of MiCA, which is a comprehensive regulatory framework proposed by the EU to regulate crypto-assets. It aims to provide clarity on the classification of different crypto-assets, establish consumer protection measures, and create a framework for issuers and service providers in the crypto space. Unlike a hostile stance, the EU recognizes the importance of crypto in the context of the AI and Web3 revolution. This indicates a commitment to fostering innovation while establishing a regulatory framework for digital assets.

1. United States

The U.S. is at a pivotal moment in crypto regulation, with an acknowledgment that enforcement-based approaches may stifle innovation. The U.S. Securities and Exchange Commission (SEC) has taken various enforcement actions against projects and individuals in the crypto space. These actions are often based on allegations of unregistered securities offerings, emphasizing the need for compliance with securities laws.

1. Brazil

The Central Bank of Brazil (CB) recently launched its long-awaited public consultation on the regulation of cryptocurrencies. CB will use the responses obtained in this consultation to prepare a draft regulation, which will be submitted to a second round of public consultation in mid-2024. The final version of the regulation will be implemented after this second consultation.

1. Argentina

2023 was very important due to the victory of Javier Milei in Argentina, who has cryptocurrencies as a major player in the Argentine economy. There will be some major policy changes in Argentina and we will expect monitor closely to see whether some of those policy can pass the congress and affect the adoption of Cryptocurrency in Argentina.

1. United Kingdom

The UK is actively participating in the global race for establishing credible regulatory frameworks for digital assets. Its regulatory approach will likely influence its position in the global crypto landscape post-Brexit. In the UK, firms conducting crypto-related activities, such as crypto exchanges and wallet providers, need to register with the FCA and comply with anti-money laundering (AML) regulations.

1. United Arab Emirates

The DMCC in the UAE has introduced regulations for businesses involved in crypto and blockchain activities. These regulations provide a legal framework for licensing and overseeing businesses engaged in crypto trading and related services. The UAE is positioning itself in the global race by emphasizing the importance of establishing credible regulatory frameworks. As a hub for innovation and technology in the Middle East, the UAE's approach to crypto regulation is likely to shape its role as a key player in the digital asset space.

1. Japan

Japan has been a pioneer in recognizing the permanence of crypto and has the Virtual Currency Act, which came into effect in 2017. This act regulates cryptocurrency exchanges and requires them to be registered with the Financial Services Agency (FSA). Its established regulatory framework, coupled with a positive approach to crypto policy development, positions Japan as a leader in the global crypto landscape.

1. Hong Kong

Hong Kong is actively participating in the global race for regulatory frameworks for digital assets. Hong Kong's Securities and Futures Ordinance governs the regulation of securities and futures activities, including those related to crypto-assets, and the compliance supervision will be carried out by the Securities and Futures Commission (SFC). The strategic location of Hong Kong as a financial hub in Asia makes its regulatory developments significant for the broader market.

1. Singapore

Singapore's Payment Services Act came into effect in 2020 and regulates various payment services, including digital payment token services (cryptocurrencies). It requires crypto service providers to be registered and comply with AML and counter-terrorist financing (CTF) requirements. Singapore has been a frontrunner in creating a conducive environment for blockchain and crypto development. Its commitment to innovation-friendly regulation and clarity in guidelines positions Singapore as an attractive destination for crypto businesses.

Inevitability of Proactive Crypto Policy Development

The continuous evolution and growing prominence of cryptocurrency in the global financial landscape make proactive policy development inevitable. As crypto becomes more ingrained in various sectors, including finance, technology, and even governance, regulatory globally are recognizing the permanence of cryptocurrencies and blockchain technology. Proactive policy development excatly responds to this demand by establishing rules that protect consumers, ensuring fair market practices, and creating a level playing field for businesses operating in the crypto space.

The swift progression of technological innovations within the crypto space, including developments like decentralized finance (DeFi), non-fungible tokens (NFTs), and blockchain interoperability, underscores the imperative for regulators to proactively anticipate these advancements. With the growing participation of institutional investors and the general public in the cryptocurrency market, ensuring investor protection and maintaining market integrity have become top priorities for regulators.

Thus, we can see that establishing effective regulatory frameworks is crucial for mitigating these risks and preventing the abuse of digital assets. It's also considered a robust regulatory framework as a means to instill confidence in market participants and attract broader adoption.

Conclusion

In 2023, we witnessed a remarkable departure from the economic struggles and market declines of 2022. This year unfolded with a resurgence of enthusiasm for digital assets, impressive market gains, and the emergence of unique on-chain elements like Bitcoin Inscriptions. Some areas have been more successful than expected (collectible NFTs, Real world assets) while some are less so (payments) but overall, the industry has found strong product-market fit in a couple of niches and is entering a maturity phase.

Long-Term Holders currently have a firm grip on the Bitcoin supply, and most investors find themselves in possession of profitable coins. As we approach early 2024, the possibility of a US-based ETF becomes more tangible, and with the upcoming Bitcoin halving in April, the stage is set for a very positive year ahead!

Disclaimer

This content, presented by the TruBit, is provided for informational purposes only. It does not constitute financial, investment, legal, tax, or any other advice. The content is not intended to endorse or recommend any products or services. Nothing in this content should be considered a representation or warranty. Projections, estimates, forecasts, targets, prospects, and/or opinions expressed are subject to change without prior notice and may differ from the views of others.

• TruBit 2024 Outlook Report - The Road Ahead
• Recap 2023 Crypto Market
• Crypto Market Expansion & Record-Breaking Rise
• Widening Bitcoin Adoption: A Shift to Mainstream
• Bitcoin's Rise: Shaping the Future of Institutional Investment
• 2024 Macro Economy Forecast
• Guiding the Economy a Smooth and Stable Soft Landing
• New Path of Fed Funds Rate Cuts
• Bitcoin - Growth and Mainstream Adoption
• Crypto users will boom in 2024
• Weak US Dollar Index & The Rise of Bitcoin Dominance
• Bitcoin ETFs: Paving the Way for Institutional Investment
• Bitcoin Halving: Catalyst for Market Transformation
• Enhancing Bitcoin's Network: Layer 1 & Layer 2 Developments
• Rootstock, Stacks Integration, and Lightning Network Evolution
• The Emergence of Ordinals and BRC-20 Protocols
• AI & Crypto - A Potent Combination on the Horizon
• What is AI? What are the application areas of AI?
• AI drives cryptocurrency trading strategy optimisation
• How Is AI Used in the Cryptocurrency Industry?
• Future of AI and Crypto
• Web3 Games & NFTs
• Web3 Games Driving User Adoption
• 5.1.1 Decentralized Governance
• 5.1.2 Tokenomics and In-Game Economies
• 5.1.3 Cross-Platform Interoperability
• 5.1.4 Community-driven Development
• NFTs as Ubiquitous Brand Assets
• Cryptocurrency Regulation - Global Advances in Forward-Thinking
• Brief Overview of Crypto Regulation in Different Regions
• Inevitability of Proactive Crypto Policy Development
• Conclusion
• Disclaimer