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2024 is all set to become a year of surprises in the world of cryptocurrencies. With the Bitcoin halving set to happen in 2024, experts have started drawing predictions about the crypto bull run. However, the crypto bull run of 2024 is more than about finding the top cryptocurrencies to invest in.
The cryptocurrency market works in cycles and brings something new at different stages. As the crypto winter inflicts a negative impact on the decisions of investors, it is important to look for a ray of hope. Interestingly, the upcoming bull run would take place after the upcoming Bitcoin halving. The reduction of Bitcoin supply would serve as a major catalyst for the crypto bull market.
With the next Bitcoin halving predicted for April 2024, it is reasonable to believe that the crypto market can expect a bull run. According to experts, the Bitcoin halving would create new opportunities for growth in the crypto market. Therefore, it is important to learn about the top 10 crypto bull run predictions about the general trends. Awareness of the predictions about the 2024 crypto bull run could help you adapt to fluctuations in the market without confusion. Let us find the top trends that would dominate the cryptocurrency bull run in 2024.
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Why Should You Expect a Cryptocurrency Bull Run in 2024?
The bearish state of the crypto market has been one of the notable setbacks for investors and the market itself. However, the next crypto bull run prediction has brought a silver lining in dark clouds of the crypto winter. The next crypto bull run is most likely to encourage growth alongside large-scale adoption of blockchain and web3 projects.
One of the common aspects of the upcoming crypto bull market is the Bitcoin halving event. The event takes place every four years and would reduce the number of new Bitcoins generated in the form of mining rewards by almost 50%. As a result, it would lead to a reduction in the number of new Bitcoins arriving in the market.
Interestingly, the 4-year Bitcoin halving cycle is the best benchmark for crypto bull run prediction, as previous halving events have been associated with bullish and bearish periods in the cryptocurrency market. In the one year leading up to the halving event, investors find the best time for accumulating assets. In the one year after the Bitcoin halving, the crypto market has depicted explosive upside potential.
Ethereum is also another prominent blockchain network that would have a significant role in defining the next crypto bull market. The best crypto bull run prediction suggests that the Ethereum 2.0 upgrade would also create hype for the Ethereum ecosystem. In 2024, the Ethereum 2.0 upgrade would be complete with the integration of Shanghai upgrade alongside proto-dank sharding.
Ethereum can leverage these upgrades to achieve crucial improvements in scalability, energy efficiency, and security. On top of it, the staking and transaction-burning mechanism of Ethereum, alongside maturity of layer 2 solutions, would increase the interest of developers, investors, and users in the Ethereum ecosystem. As a result, the Ethereum ecosystem would grow in value while boosting the overall cryptocurrency market.
Ethereum is not just another altcoin in the cryptocurrency market. With the Ethereum 2.0 upgrade, Ethereum could also join forces with Bitcoin to drive the next bull market in cryptocurrencies.
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What are the Most Important Predictions for the Crypto Bull Market in 2024?
The first thing you might come across in the search for popular crypto bull run prediction is the list of cryptocurrencies investors should consider. At the same time, you must also think about the important technology trends that would have a major influence on the crypto market. You can notice sporadic growth in liquidity from institutional investors and transition of projects to web3. In addition, you have to watch out for new projects that can encourage mass adoption of cryptocurrencies with new use cases. Let us take a look at the most important predictions about the technology and user-centric trends in the crypto bull market in 2024.
1. Metaverse Development
One of the foremost predictions for the upcoming crypto bull run in 2024 points to the opportunities for growth in metaverse development. The impressive predictions about growth of the metaverse market in the next few years paint a positive picture for the crypto market. As a matter of fact, the metaverse market might grow by almost 10 times the size of the whole crypto market.
The predictions about growth of metaverse during the upcoming crypto bull run can be related to the rise of new large-scale initiatives. For example, Dubai is one of the frontrunners in launching an extensive metaverse strategy with a clear roadmap for the next five years. Dubai plans on increasing the number of blockchain and metaverse development companies.
Furthermore, the launch of metaverse platforms by big companies such as Apple, Microsoft, NVIDIA, and Amazon offers favorable prospects for growth of the metaverse. In addition, the next crypto bull run prediction about metaverse technology also suggests the possibilities of state metaverse platforms. On the other hand, it is also important to explore the possibilities of interaction between public and private metaverse platforms. However, the next bull run would introduce many new metaverse platforms, albeit with only a few surviving in the competition.
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2. GameFi
The next prominent trend in the predictions for the crypto bull market in 2024 points at GameFi. Interestingly, GameFi is directly related to metaverse technology. While many people assume that GameFi industry does not have any value in the crypto market now, it is important to identify a stark difference between new and old projects. The review of top 10 crypto bull run prediction trends draws the limelight toward new GameFi projects.
The old GameFi projects primarily focused on influx of new money and incentivizing players with a Ponzi scheme model. Often criticized for poor graphics, the old GameFi projects did not offer immersive gameplay experiences. As a matter of fact, most of such games died out when the number of withdrawals became higher than inputs.
The predictions about the next crypto bull run imply that GameFi projects would shift from the conventional approach of luring users with promises of profits. As a matter of fact, crypto bull run prediction for GameFi suggests that the major video game developers are working on GameFi projects. However, the growth of GameFi in the crypto bull market would depend on incorporation of promising improvements such as detailed tokenomics and immersive graphics.
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3. NFTs
The value of non-fungible tokens is also another prominent highlight for the next crypto bull run. NFTs are a popular crypto bull run prediction trend as they have experienced the brunt of the crypto bear market. Why? Most of the NFT collections do not have trading volume on secondary market. Within a couple of months of its launch, an NFT drop would lose volume, and people would only end up collecting the NFTs. As the crypto market steps in for another bull run, it is reasonable to expect new improvements in the world of NFTs.
One of the foremost predictions about NFTs in the upcoming crypto bull market is the addition of utility for NFTs. In addition, developers would come up with long-term roadmaps. Another notable highlight for NFTs in the crypto bull run 2024 is the possibility of growing adoption in the retail and music industry. Furthermore, the arrival of new NFT token standards, growth of large projects, and rise of NFT loan market would also drive the growth of NFTs in the crypto bull market.
4. Real World Asset Tokenization
The upcoming crypto bull market would also encourage the tokenization of real-world assets. It is the most popular prediction for the crypto bull market in 2024, as many companies have been experimenting with tokenization. However, big companies have not been completely prepared for such a dramatic shift. On the contrary, they have been working on tokenization of subsidiaries and using them on smaller exchanges to test their functionality.
The tokenization of real-world assets has not gained recognition as an important trend in the upcoming bull market. It might not be the best crypto bull run prediction trend due to the lack of success stories. On the other hand, growth of existing projects such as Maple Finance and Centrifuge and market maturity could push the demand for real-world asset tokenization in the crypto bull run.
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5. Artificial Intelligence Creeps Into Web3
Another promising trend you should watch out for during the upcoming crypto bull run is the arrival of AI in web3. Artificial intelligence is an integral highlight of the web3 space. Interestingly, the upcoming crypto bull run prediction for 2024 suggests that projects based on AI would gain significant growth. The rise of new AI-based projects in the blockchain and web3 market would garner more investments. However, it is important to identify AI-based crypto and web3 projects that offer something relevant to users.
6. Decentralized Autonomous Organizations
Decentralized Autonomous Organizations, or DAOs, would be another prominent highlight in the trends during the crypto bull market in 2024 and 2025. DAOs offer a decentralized project or organizational management mechanism. However, it is also important to reflect on the need for convenient tools for adoption and implementation of DAOs. In addition, DAOs would also require fine-tuned mechanisms for management of large organizations to showcase incredible growth in popularity.
DAOs are an important addition among top 10 crypto bull run prediction trends as they could experience exponential growth during the bull market. As users in the crypto industries seek new governance models, DAOs could jump to the rescue and gain massive growth by the end of the next bull run.
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7. Decentralized Finance
Decentralized finance, or DeFi, is one of the most formidable trends that will dominate the crypto bull market in 2024. The total value of assets locked in DeFi solutions is almost equal to deposits in a large US banking institution. As the liquidity grows continuously in the DeFi market, it is reasonable to expect continuous growth in TVL. TVL or Total Value Locked refers to the amount of funds locked in DeFi market.
Interestingly, the crypto bull run would encourage the arrival of new types of DeFi solutions. The new solutions would have unique models for transforming conventional financial services. For example, the DeFi ecosystem would have new lending protocols and multichain services. In addition, you would also notice the growth of integrated decentralized protocols for interacting with real-world assets.
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8. Innovative dApps
The list of important predictions for the upcoming crypto bull run in 2024 also includes the rise of innovative dApps. You can expect new dApps from large corporations or grassroots startups. The innovative dApps could offer transformative solutions in the crypto market, thereby helping dedicated developers taste success. With the innovative dApps, the crypto market would draw in more users alongside accelerating growth.
9. Large-Scale Transition to Web3
The predictions about the upcoming crypto bull run also point to the possibilities of transition to web3. The large-scale migration of web2 projects to web3 qualifies as a major industry trend. It is the most popular crypto bull run prediction that would dominate 2024. Why? The growing number of web3 projects would shift towards decentralization and user-centric value advantages. Thus, the crypto market would notice more decentralized applications that would attract more users into the crypto market.
10. Mainstream Adoption of Crypto Payments
The most noticeable outcome of the upcoming crypto bull run would point to the growing mainstream adoption of crypto payments. It would lead to rising adoption of cryptocurrencies as a method of payment in hotels and supermarkets. In addition, the crypto bull run prediction trends for 2024 would also focus on adoption of cryptocurrencies in other cases. For example, cryptocurrencies can work as the choice of payment for airline tickets and general goods. The growth of cryptocurrencies in the upcoming bull run might serve as a catalyst for such a phenomenon.
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Conclusion
The review of important trends expected during the crypto bull run in 2024 shows that the bull run would push growth. One of the most distinctive highlights of a crypto bull market is the availability of multiple opportunities for growth. However, you have to stay prepared for every fluctuation in the crypto bull market by learning about the major trends. It can help you identify the ideal course of action for your investments in the crypto bull market. You can select projects with maximum chances of profitability. Learn more about the crypto bull run set to happen in 2024 right now.
*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. 101 Blockchains shall not be responsible for any loss sustained by any person who relies on this article. Do your own research!
