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Venture capital firm Andreessen Horowitz(a16z) on Fridayreleased its 2024 predictions report, whichfocusedon democratization, user experienceand the integration of artificial intelligence (AI) as the driving forces behind crypto's evolution.

Decentralization Takes the Lead: Miles Jennings, general counsel and head of decentralization, emphasizedthe importance of shifting control away from centralized entities.

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He envisionedmore effective DAOs and innovative decentralization models leading to a more transparent, user-driven ecosystem.

This shift wouldempower users and promote diverse solutions that cater to a wider range of needs.

UX Revolution On The Horizon: Eddy Lazzarin, chief technology officer, predicteda significant improvement in user experience (UX) for crypto.

Passkeys, embedded wallets, and smart accounts are among the advancements that will simplify onboarding and interaction with decentralized applications (dApps).

These advancements aim to make crypto more accessible and intuitive for mainstream users, bridging the gap between Web2 and Web3.

AI And Blockchain Convergence: Andrew Hall and Daren Matsuoka, researchers, sawdecentralized AI as a major development.

Crypto couldempower individuals to contribute to AI training and data, democratizing innovation and making AI safer for users.

Open-source platforms couldencourage ethical development and mitigate risks associated with centralized AI models.

Play And Earn Redefines Gaming: Arianna Simpson, general partner, believed"play to earn" is evolving into "play and earn, shifting the focus from mere earning to creating fun and sustainable game economies.

Players wouldrightfully capture more value they generate within these virtual worlds, transforming the relationship between game platforms and users.

Also Read:Memecoin Madness: Solana Degen Turns $92 Into $1.5M In 16 Days Trading Silly Token, Can You Repeat This Dream?

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AI & Crypto: Guaranteeing Game Integrity: Carra Wu, investing partner, warnedthat AI-powered games require guarantees of fairness and transparency.

Crypto plays a crucial role here, enabling users to understand and verify the game's logic and code, ensuring everyone plays by the same rules.

Formal Verification Simplified: Daniel Reynaud, research engineering partner, introducedaccessible formal verification tools aimed at securing smart contracts.

These tools cater to the unique needs of blockchain development, making code more robust and less vulnerable to costly hacks.

NFTs as Ubiquitous Brand Assets: Scott Duke Kominers, research partner, predicteda surge in NFT adoption by brands.

From loyalty programs to co-creation initiatives, NFTs will become integral to brand identity, customer engagement, and product experiences.

This trend will see NFTs transitioning from niche collectibles to mainstream brand assets.

SNARKs Take Center Stage: Sam Ragsdale, investment engineer, highlightedthe growing prominence of SNARKs, cryptographic tools that verify computations without revealing underlying data.

SNARKs will enable a multitude of innovative applications, from secure edge computing to verifiable media edits and self-auditing forms.

Why It Matters: Andreessen Horowitz painteda picture of a crypto industry embracing decentralization, user-centricity, and AI integration.

These trends have the potential to bring crypto mainstream, empower usersand unlock new possibilities across various sectors.

As innovation continues at a rapid pace, 2024 promises to be another pivotal year for the ever-evolving world of crypto.

Also Read:Hodl Your Horses, Bulls: Matrixport Predicts Bitcoin Stampede Will You Get Trampled Or Triumphant?

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Ready for your shot at the next potential 32%, 39% or 45% gains in today's market? You're about to miss Stock Expert Gianni Di Poce's 3 latest stock ideas... Ones that could shift your entire wealth-building journey. If you're ready to end 2023 strong with 12 hot stock ideas every single month. ACT FAST.

2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Grandma Wins At Crypto: A16z Reveals Plan To Make Web3 Easier For Everyone - Benzinga

By Kelsi Karruli For Dailymail.Com 22:24 21 Dec 2023, updated 13:59 22 Dec 2023

A life coach has shared the five signs that will help you spot a narcissist during an argument - and what they made to make you look like the bad guy.

Mark Fennell has been helping people transform their lives for over 20 years and he frequently shares his life-changing tips on his TikTok account, where he boasts over 65,000 followers.

Throughout his time as an Ireland-based mentor, he came across his fair share of self-centered people and has issued a warning to viewers when dealing with them.

In a viral video, which has so far amassed over 7.2 million views, he shared the five indications that you're dealing with a narcissist.

He captioned the clip: 'How to spot a narcissist in an argument. My five signs they might be narcissistic.'

'I've been life coaching people for 20 years and I've seen my fair share of narcissistic behavior,' Mark said before jumping into the signals.

The first sign you're dealing with an egotistical person is if they always 'play victim.'

The life coach explained that narcissists never believe they are the 'cause of anything whatsoever.'

'They're always the victim and they will always play the victim card,' he added.

Moving on to the next key, Mark said narcissists refuse to take accountability for their actions and will 'deny' being at fault.

'Number two, denial. They will always deny everything and anything that points at them as being the cause, they will never take ownership and will never take responsibility, instead they will deny,' he noted.

Another sign that will point to someone being a narcissist is when they attempt to turn the conversation around on you.

'Number three, deflection. They will deflect away from themselves and suddenly, you'll find that the conversation is becoming about you and not about them,' he explained.

The fourth signal that you are in an argument with a narcissist is obvious when they begin to gaslight you.

Mark said: 'They will gaslight you, they will make you doubt how you perceive the situation, they'll say things like, "Oh it wasn't like that", or, "Oh I didn't mean it like this."

'They will make you doubt what you believed happened and how you recall what happened.'

Lastly, narcissists will become aggressive when they don't get what they want.

'When all four other options have failed, they will attack and become aggressive. This is to intimidate you and make you back off,' he said.

People flooded the comments section and praised the life coach for his advice.

One person said: 'They're exhausting.'

Someone else added: 'The true victim is never allowed to get their point across.'

Another user wrote: 'They are the victim or the star of every story!'

'Spot on,' someone else added.

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Life coach reveals five warning signs to help you spot a NARCISSIST - and the VERY sneaky tactics they use to - Daily Mail

Juwan Howard returned to the Michigan bench as the head coach of the Wolverines following his recovery from heart surgery. This summer and leading up to that moment, Howard had a lot of time to reflect.

A lot has happened since then. The Wolverines are just 6-5 following a win over Eastern Michigan and Howard is under investigation for an alleged altercation at practice.

Well being away, I got a chance to reflect on it late at night, Howard said. Im awake and Im listening to the heart monitor Now, its taken me some time to get back to sleep. But one of the things I think about is basketball never leaves my mind. Ive always wondered like, Okay, well how can you have the growth mindset? What are some of the most important things that your team needs to help grow?

How can you challenge the staff like, what are some of the things that as a staff, how can we be the best version of ourselves for them? And those are the thoughts that I have, but then also, there are thoughts that I had in my mind like, Okay, if I want to continue this journey of basketball, I put my health first and I took my time during the process.

Having heart surgery really put everything into perspective for Howard on and off the court. He really processed all of his emotions.

Im not one to be really scared, Howard said. I had no idea what I was truly facing but to hear like, you know, open heart surgery. I was like, Okay, well bring it on. Theres another situation Ive dealt with, you know what? I cant run from it.

So this is what it is. And thats the athlete mentality that I have. Not knowing that surgery. I had never had serious surgery before. playing in the NBA or playing in college with the three broken noses. But to have open heart surgery, that surgery was over. I was like, Whoa, I felt like I got hit by a Mack truck. And it took some time.

Howard knew that he had to take a different approach, but you werent going to remove the athlete or coach out of him.

Im going to, of course, put my head down and be in a puddle and just feel sorry for myself or Im gonna toughen up, roll up my sleeves and say you know what, there is no time, Howard said. Lets figure out how to get out there.

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Juwan Howard explains how being away from team impacted his view on life, coaching - On3.com

Nozuko Ncayiyane.

Photo: Gallo Images/Oupa Bopape

In addition to being an actor with an impressive resume filled with award-winning TV productions, Nozuko Ncayiyane has added life coaching to the list.

She started her journey wanting to merge teaching and acting.

While the wellness space is filled with turmeric recipes, fitness junkies, and all the buzzwords that come with taking care of oneself, she instead went into a space where she could mentor young women and help them find their purpose.

Speaking to News24,the actor said pursuing life coaching was an organic decision.

In 2022, shejuggled her studies at Subconscious Frequency Academy with the demands of being an actor in Diep City.

"I've always known that I like teaching; hence, when I got to Skeem Saam, I was studying teaching, but I've never really understood how I [can] merge teaching and acting. I then thought it would be lovely to do facilitating or life coaching so that I still get to exercise my passion for teaching. For years, I just started manifesting ideas of doing life coaching until I heard about subconscious frequency, an educational platform where they teach you to become a life coach. I did the course for three months, and then I got the certificate; I got certified to be a life coach to give guidance and mentorship."

The wellness business applies to everyone; life coaching [I have] been able to merge teaching and acting but also consciousness, awakening people and teaching them about who they are and finding their purpose. So, that is the kind of work I do mostly with young women to give guidance and mentorship.

Feeling a lot of joy

Reflecting on this year and all her milestones, Ncayiyane said the chapter she is in is one where she is whole.

"I'm feeling a lot of joy. I am exactly where I need to be. However, there are some things that I've always known: that I will be here.

"It has always been inside of me. I've had doubts and doubted a lot throughout the years. And I can only say that now I'm at a point where I feel like I am where I need to be, and like I was supposed to be an actor and that I am an actor. I didn't even believe for years that I was an actor and that I could act."

READ MORE |'My favourite': Nozuko Ncayiyane loves her latest 'provocative' role as a sangoma in S'phiwo

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Nozuko Ncayiyane on overcoming her fears and becoming a life-coach | Life - News24

According to a Dec. 21 post, Grayscale and Harris Poll have teamed up to get the read on the role of crypto in the 2024 election.

As stated inthe report, for the first time in history, Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies were all mentioned in the American Presidential primary debate, resulting in the release of2024 Election: The Role of Cryptoa survey administered by Grayscale on behalf of The Harris Poll, an American market research and analytics company.

From this study, key findings included 46% of likely voters being said to hold off on cryptocurrency investments, waiting for additional policies and regulations before diving into the digital asset space.

🚨NEW: @Grayscale partnered with @HarrisPoll to get a read on the role of #crypto in the 2024 election. Some key findings were:

🔱46% of likely voters say that they are waiting for additional policies and/or regulation before investing in crypto.
🔱40% expect their future…

— Eleanor Terrett (@EleanorTerrett) December 21, 2023

Simultaneously, data showed that 40% of respondents anticipate incorporating cryptocurrency into their future investment portfolios, signaling a growing acceptance of this emerging financial frontier. Equally noteworthy is that nearly half of the surveyed voters, 48%, expressed that implementing additional policies or regulations around cryptocurrency would make them more inclined to invest. The survey also unveils a generational trend, with Gen Z and Millennials displaying a keen interest in the candidates understanding of crypto.

A substantial 59% from both demographics express a likelihood of voting for a candidate well-versed in cryptocurrency matters, and an additional 50% and 48%, respectively, consider a candidates stance on crypto a decisive factor in their vote for the 2024 U.S. presidential election.

In alignment with an earlier report from Nov. 9, Galaxy Digital Holdings CEO Michael Novogratz expressed reservations about the progression of cryptocurrency regulations in the United States leading up to the anticipated 2024 presidential elections.

In the third quarter earnings call for the company, Novogratz predicted a delay in U.S. crypto regulation until post-2024 elections. With many likely voters interested in cryptocurrency regulation, Novogratzs prediction will likely check out.

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Grayscale and Harris Poll unveil cryptocurrency's role in 2024 election - crypto.news

A year ago, the crypto world was in shambles. Now it's back, riding a new rally that supporters predict will surge even higher in 2024.

The price of bitcoin (BTC-USD), the worlds largest cryptocurrency, is up more than 160% this year after topping $44,000 for the first time since early 2022. The stock of cryptocurrency exchange Coinbase (COIN) has more than tripled, while the total market value of all crypto assets has nearly doubled.

I think what people are reacting to this year is crypto is here to stay, Coinbase CEO Brian Armstrong told Yahoo Finance.

The industrys comeback was one of the more surprising market stories of 2023, following an epic 2022 collapse that burned many investors and took down some of the industrys biggest names.

The bull case for 2024 is that many of cryptos biggest problems are now officially in the rear-view mirror after the criminal conviction of FTX founder Sam Bankman-Fried and a guilty plea from Binance CEO Changpeng Zhao.

Investors are optimistic the industry is poised for wider acceptance and regulatory clarity from Washington. They expect regulators to grant approval in January for a series of spot bitcoin ETFs that would allow everyday people to get exposure to the cryptocurrency without having to own it.

Investors are also excited about bitcoins "halving" in April, a once-in-every-four-years event that reduces the daily issuance of the cryptocurrency by half and typically results in another bull run.

"There's really this perfect storm of positive tailwinds heading into next year," Sean Farrell, Fundstrat Global Advisors vice president of digital asset strategy, told Yahoo Finance.

The crypto market "has been positioned for perfection over the next six months," added Rich Rosenblum, founder and CEO of crypto market maker GSR.

The industry still faces plenty of risks, however. One worry is that US regulators could make it much harder for digital asset firms to thrive as they did during the last boom. Another is that extreme risk takers in the industry could take things too far, as they did in the run-up to 2022.

Story continues

"If prices go back up, I think we could see a very similar landscape to what happened before," Molly White, a crypto researcher and critic, told Yahoo Finance.

A third potential problem is that Congress wont clarify how the industry is regulated, making it more difficult for the industry to achieve mainstream acceptance. Democrats and Republicans in Washington currently disagree about whether cryptocurrencies are a threat to the financial system or a source of innovation.

JPMorgan Chase (JPM) CEO Jamie Dimon told US lawmakers earlier this month that he would put an end to crypto if he had the power to do so.

"If I was the government, I'd close it down," he said in response to a question from Sen. Elizabeth Warren (D-Mass.), who is pushing a new bill that would force crypto providers to comply with anti-money laundering safeguards.

If there is one firm that stands the most to either benefit or lose from the industrys next steps, it is Coinbase, the largest crypto exchange in the US. Its stock has surged 375% so far this year.

It benefitted from the fall of FTX and the humbling of Binance, its two biggest rivals, while introducing a raft of new products ranging from a US regulated futures exchange to a Layer 2 blockchain scaling solution. It also stands to become the custodian for many of the spot bitcoin ETFs that hope to launch early next year.

Coinbase did post its seventh consecutive quarterly loss in the third quarter, but it was the closest it has come to a positive earnings result since the fourth quarter of 2021, when the last crypto boom was still raging.

Its future earnings remain at risk from a legal fight with the Securities and Exchange Commission, which sued the exchange in June for allegedly operating an unlicensed crypto securities exchange, broker, and clearing agency.

The company is choosing to defend itself in court and its CEO Brian Armstrong has been vocal about his disagreements with the SEC.

"Theres a lot of short-term bumps, twists, episodes," Coinbase CFO Alesia Haas told Yahoo Finance earlier this month. "The longer you are in crypto the more you have to realize that you have to see through the noise," she added.

The SEC remains the biggest threat looming over much of the industry. It took more than 32 actions against crypto-related actors in 2023, a 28% increase compared to the 25 in 2022. Those charges, which targeted many of the industrys biggest players, were still a small part of more than 300 overall actions taken by the regulator against a variety of companies.

Its core claim is that many crypto assets should be considered securities, thereby requiring more onerous oversight from the SEC.

Judges offered differing opinions on that subject in 2023 in cases brought by the SEC, adding to the confusion. One ruled that a digital coin called XRP was a security only when sold to institutional investors but not when sold on public exchange to retail customers.

Another judge in a separate case involving the Terra USD token said that digital currencies can be considered securities when sold to the general public, contradicting the earlier ruling.

Coinbase has separately asked the SEC to come up with a new framework to oversee crypto, but the agency denied that petition this month.

In doing so, SEC Chair Gary Gensler cited the SEC's limited resources and a quote from the SECs head of enforcement stating that "you simply cant ignore the rules because you dont like them or because youd prefer different ones." Coinbase is appealing the decision.

While it wages war with the SEC, Coinbase is also actively lobbying Washington for more clarity around how the crypto world is regulated.

To that end, Coinbase and other crypto backers announced this month that three super PACs have raised $78 million to back candidates in 2024 who favor crypto-friendly policies.

"There's going to be ups and downs but this movement is here to stay and we need to send that message to Washington," Armstrong added.

David Hollerith is a senior reporter for Yahoo Finance covering banking, crypto, and other areas in finance.

Click here for the latest crypto news, updates, values, prices, and more related to bitcoin, ethereum, dogecoin, DeFi, and NFTs

Read the latest financial and business news from Yahoo Finance

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Crypto had a surprisingly great year. It still faces threats in 2024. - Yahoo Finance

Ric Flair is not only in the energy drink and marijuana businesses, hes also dabbling in the world of cryptocurrency.

On Friday, The Nature Boy announced his latest business venture, the Wooooo! Coin.

Wooooo! Coin there is only one true Wooooo!, he wrote via X. Get in on the hottest crypto project of the year!

Flair added, Whitelist is now open! Join the community on Telegram and get on the whitelist!

The official launch for the new business venture of the multiple-time WWE Hall of Fame legend and current AEW personality is scheduled for January 1, 2024.

For more information, visit OfficialWoooooCoin.com.

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Ric Flair Announces Launch Of The Wooooo! Coin Cryptocurrency For Jan. 1 - Wrestling Headlines

Cryptocurrency Scams on Twitter Exploit Post Features Gridinsoft  GridinSoft

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Cryptocurrency Scams on Twitter Exploit Post Features Gridinsoft - GridinSoft

(AP Andrew Harnik, File) The SEC and the United States have filed two fraud cases against Utah-based crypto company SafeMoon and its three executives. Utah-based CEO John Karony was arrested in Provo.

| Dec. 19, 2023, 4:08 p.m.

| Updated: 6:25 p.m.

SafeMoon, a Utah-based cryptocurrency company that promised to take investors to the moon, is instead bracing for an earthly descent in federal court.

The company filed for bankruptcy late last week, court records show. Its three executives, including Utah CEO John Karony, face fraud criminal charges in New York District Court and separate fraud charges from the Securities and Exchange Commission.

A trustee for SafeMoon has asked a judge for temporary control over the business assets and operations in order to wind down operations and paying SafeMoon creditors, who are primarily former SafeMoon employees.

In a motion filed Sunday, trustee Ellen Ostrow proposed hiring former employees as independent contractors to assist in the liquidation of the Debtors assets. Doing so, the motion says, would make liquidation more efficient and maximize SafeMoons assets.

A judge Monday granted that motion, expediting SafeMoons bankruptcy hearing on a preliminary basis. Ostrow argued in the motion that it is crucial to the compensation of the employees to begin as soon as possible.

The motion allows Ostrow to access SafeMoons assets to pay employees for work done until Jan. 3, when a follow-up hearing is scheduled. The preliminary motion lets Ostrow pay employees what they are owed, said Judge Joel T. Marker, chief judge of the U.S. Bankruptcy Courts Utah district, but gives all parties time to address any concerns.

Ostrow argued in the motion that SafeMoon employees have historical knowledge of crypto assets that need to be converted to cash and that without them, there would be a loss of significant value to the detriment of the Debtors estate, since those former employees have valuable knowledge of the Debtors business.

According to the Chapter 7 bankruptcy filing, SafeMoon has between $10 million and $50 million in assets, and owes between $100,000 and $500,000. The company has between 50 and 99 creditors, court records claim, and is uninsured.

Karony and his co-executives, SafeMoon Chief Technology Officer Thomas Smith and founder Kyle Nagy, have been charged with criminal securities fraud conspiracy and wire fraud conspiracy; the SEC has separately charged them with fraud and selling unregistered crypto securities. In court documents, the three are accused of lying to investors and cashing in on millions of dollars worth of assets that were supposed to be locked.

Karony almost was released on bail under certain conditions in November, but New York District Court Judge Eric Komitee reversed that decision, according to court transcripts. Komitee said the conditions set by Utah District court Judge Daphne Oberg were insufficient, but that he would reconsider a bond request in the context of a more robust proposed bail.

Karony was denied bail again Dec. 6 and ordered to be moved from Salt Lake City, where he was detained following his arrest, to New York, where he will face trial in the states Eastern District Court.

Shannon Sollitt is a Report for America corps member covering business accountability and sustainability for The Salt Lake Tribune. Your donation to match our RFA grant helps keep her writing stories like this one; please consider making a tax-deductible gift of any amount today by clicking here.

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SafeMoon files for bankruptcy amid fraud accusations - Salt Lake Tribune

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Since its inception in 2009, Bitcoin, the worlds oldest cryptocurrency, has attracted the attention of fans, investors, scammers and more recently, regulators.

For many of its acolytes, Bitcoin is not just a new form of currency but a groundbreaking technology that introduced the world to the concept of decentralized currencies and established the bedrock for an entirely new type of economythe cryptocurrency market.

For others, it was a way to make a quick buck, and while some of these early investors did manage to join the coterie of Bitcoin millionaires, many more lost hundreds or even thousands of dollars trying to predict its price movements.

Bitcoin has been the subject of many price predictions, some of them extreme.

Notably, Cathie Wood, CEO of Ark Invest, predicted that Bitcoin could reach an astounding $1.48 million by 2030. Senior analyst Nicholas Sciberras from Collective Shift points out that this prediction reflects widespread surprise at Bitcoins meteoric rise.

Its difficult to put any price target out there, as the sky could become the limit depending on the level of adoption and external factors in the market, he says.

Bitcoin has come a long way since its first recorded price of less than a cent. As of December 20, 2023, one Bitcoin was worth roughly $42,000. The idea that Bitcoin could one day be worth a million dollars per unit, as Sciberras points out, really shows how far weve come.

However, while great highs are possible, so too are catastrophic lows.

Bitcoins journey started in 2009, with the release of the Bitcoin white paper by creator Satoshi Nakamoto.

The early years of Bitcoin were marked by steady growth and periods of rapid price appreciation, known as bull runs. One of the greatest bull runs saw the price of BTC reach $69,000 in November 2021. However, there were also periods of uncertainty, as Sciberras points out.

During 2014 and 2017 we saw many Bitcoin forks proposed that split the Bitcoin community, he says. Hard forks are changes to the underlying protocol of the blockchain network that split a cryptocurrency into two.

These forks represented crucial junctures in Bitcoins history, with various factions in the community attempting to change BTCs direction. Despite heated debates, and a number of forks, Bitcoin has persisted in its current format.

Bitcoin surviving these attempts to change it is a core contributor to where BTC is now, increasing its confidence and resilience, Sciberras says.

It has weathered many storms and attempts to change it, with Bitcoin forks now a distant memory, combining for less than 1% of Bitcoins total market cap.

Another defining feature of Bitcoins price history is the halving event, which happens roughly every four years and reduces the rate at which new coins are created. The next halving is expected to occur sometime in early to mid-2024.

Weve seen Bitcoins price significantly increase a year before the halving and a year after, Sciberras says.

Many investors view the halving event as one of the most significant factors that affects Bitcoins price. However, Sciberras is circumspect.

The jury is still out on how priced-in the halving is, or how important the event is in the grand scheme of Bitcoins price trajectory, he says.

There is a theory that the four-year halving event is not as significant as many think and that, instead, its alignment with external liquidity cycles is what makes it appear like a trigger for upward price movement.

Bitcoins performance in 2024 depends on a variety of potential bullish and bearish catalysts. Numerous factors, such as institutional adoption, the halving, regulatory changes and macroeconomic trends will influence the price of Bitcoin in 2024.

During 2023, the crypto industry was rocked by a series of enforcements that shook confidence in the sector. The U.S. Commodity Futures Trading Commission filed civil enforcement action against crypto exchange, Binance, and its founder and CEO Changpeng CZ Zhao.

However, in November, Binance settled with the U.S. Treasury and Department of Justice, with CZ agreeing to step down and hand over the reins as part of the deal.

Sciberras notes that, most importantly Binance was not accused of misusing customer funds and did not see a bank run on the exchange.

This was one of the best outcomes the market couldve hoped for, and crypto prices rallied as a result, he says.

Binance was a massive gray cloud hovering over crypto, and the settlement is a huge green flag heading into 2024.

Chair of the U.S. Federal Reserve, Jerome Powell, has indicated that the central bank may have reached the peak of its rate hike cycle, which Sciberras thinks could be a catalyst for a Bitcoin rally in 2024.

When interest rates stabilize or fall, cryptocurrencies such as Bitcoin can offer an attractive place for investors to park capital due to its perceived hedge against traditional financial systems and increasing scarcityespecially as the halving approaches in May.

Estimates forecast three 25-basis-point rate cuts in 2024, a more aggressive outlook than what they have previously signaled, Sciberras says.

Sciberras recommends investors keep an eye on inflation from the personal consumption expenditures (PCE) price index, as Powell has left the door open for further rate rises if it begins to creep back up.

When it comes to predicting the future of Bitcoin, there are two potential outcomes to consider: the bull and the bear case.

Sciberras says a bullish future for Bitcoin may depend on the sturdiness, or lack thereof, of traditional banking frameworks.

There are serious issues in the global economy, with the U.S. facing a banking crisis and growing debt obligations, Sciberras says.

There were multiple bank failures in 2023, but many forget the underlying problem of these failures still exists.

If bank failures continue in 2024, the government may be forced to step in to provide stimulus or print more money. This would further devalue the U.S. dollar, similar to what occurred during the Covid-19 pandemic.

In this scenario, Bitcoins role as a known, fair and resilient asset with a fixed supply where the rules of the game are not easily changed could become attractive, Sciberras says.

Sciberras also points to the increased demand for block space on Bitcoins network due to recent innovations, such as ordinals and BRC-20 tokens, as positive developments.

The higher demand, utility and fees for miners could help alleviate concerns over Bitcoins long-term security budget. The growing adoption of the Lightning Network, a layer on Bitcoin that enables faster transactions, could result in Bitcoin becoming more of a payment method rather than just a store of value.

If Bitcoin can continue making progress and adoption in the payment front, it could increase its overall utility and become more money likehelping it reach those lofty price targets, Sciberras adds.

We are seeing early signs of Lightning adoption. Lightning Networks total payments grew 1,212% over the past two years. We are also seeing Lightning overcoming distribution hurdles with increased support.

In June of 2023, BlackRock, the worlds largest asset manager, filed plans to start a spot exchange-traded fund (ETF) for BTC. Multiple other institutions followed suit, with WisdomTree, ARK Invest and others lodging their first application or updating existing applications shortly after BlackRocks announcement.

These applications were part of greater institutional adoption of Bitcoin throughout the remainder of 2023, driving the price to a high of almost $45,000 in December.

There are now almost 10 applications with the SEC, and there is a limited amount of time before a decision must be made to either approve or deny them. January 10, 2024, is listed as the decision date for BlackRocks application.

Currently, the only Bitcoin ETFs approved for trading in the U.S. trade in Bitcoin futures. Futures are a complex derivative instrument based on the future price of an asset.

Sciberras lists a spot Bitcoin ETF approval as a key factor influencing Bitcoins price in 2024. It would not only necessitate physical Bitcoin purchaseswhich would potentially lift pricesbut it would also add a considerable air of legitimacy to cryptocurrency more broadly.

The (approval) could funnel between $30 billion to $300 billion into Bitcoin, he says.

Sciberras also cites the Financial Accounting Standards Boards (FASB) new digital asset reporting rules, set to take effect in December 2024, which will ease rules around the reporting and holding of cryptocurrencies for companies. These new standards remove a significant obstacle for companies holding Bitcoin on their balance sheet.

Every investment has potential downsides, and Bitcoin is no exception.

Sciberras says on the negative side of the ledger, there are concerns over Bitcoins long-term security, given the block reward will continue to decrease. He adds that the spot Bitcoin ETF applications also pose a potential risk if they are rejected, creating a short-term sell-off of BTC.

Then there is the contentious debate about inscriptions on the Bitcoin blockchain. While Sciberras acknowledges their potential in generating sustainable fees for the protocol in the long-term, especially as more Bitcoins circulate and miner reliance on fees increases, he also notes the divided opinions within the community regarding their impact on the networks functionality.

Notably, a respected original Bitcoin developer, Luke Dashjr, labels inscriptions as spam. He argues that they congest the network, complicating the mining process and the networks overall support. This difference in perspective sets the stage for a potential ideological clash within the Bitcoin community.

Environmental fall-out is another concern.

There are continued attacks on Bitcoins environmental impacts, with the White House proposing a tax of up to 30% on Bitcoin miners in the U.S., Sciberras says.

If Bitcoin continues to be criticized due to its energy consumption, it could threaten its price action.

The worst-case scenario is we see Europe try to reintroduce a ban on (proof of work), which was tried in 2022 but was swiftly struck down.

Bitcoin uses a proof of work validation system. Proof of workas opposed to proof of stakeis the most energy intensive validation system that cryptocurrencies can use.

A swing in sentiment against Bitcoin and cryptocurrency by governments could also decrease prices.

The U.S. is becoming incredibly hostile towards cryptocurrency and Bitcoin, Sciberras says.

Additionally, if Bitcoin threatens countries monopoly on money due to widespread adoption, governments could move to restrict it.

Sciberras points to a recent bill introduced in the U.S. to expand the Bank Secrecy Act and impose more stringent reporting requirements for digital currency transactions, including those with unhosted wallets, as an area for concern.

In its current form, this legislation would cripple the U.S. crypto industry, he says.

The implications of anti-money laundering (AML) and Know Your Customer (KYC) laws also worry investors. Sciberras singles out the specific challenges of enforcing high reporting requirements on transfers to private, self-hosted wallets.

AML laws remain a big battleground and could threaten the industry as compliance could be extremely difficult, Sciberras says.

Investing in Bitcoin comes with its share of rewards and risks, and understanding these is key to making an informed decision.

Overall, Sciberras is optimistic about Bitcoins future.

Looking into 2024 and beyond, Im personally very long-term bullish on Bitcoin, he says, citing the macroeconomic backdrop, the upcoming halving in May, the improved development of scalability within the Lightning network and the potential BTC ETF.

However, Bitcoins future isnt without potential hurdles.

If Bitcoin continues to be targeted by governments and its energy consumption is further politicized, then it could put pressure on Bitcoins long-term sustainability, Sciberras says.

One of the significant long-term concerns for Bitcoin is its security in the face of a decreasing block reward.

If there is lackluster adoption and demand for Bitcoin, or fee revenue is inadequate to incentivize miners to upgrade their hardware and mine new Bitcoins, security could decrease and threaten the network, he says.

We've combed through the leading exchange offerings, and reams of data, to determine the best crypto exchanges.

Original post:

Bitcoin Price Prediction 2024 - Forbes