While 2023 has posed challenges for cryptocurrency units, analysts have expressed positive thoughts about the sector’s continued growth, with some predicting that the number of users could reach nearly one billion by 2024.
Analyst Commentary on Bitcoin
Analysts from the cryptocurrency exchange Bitfinex highlighted in a report that as of December 1, the number of global cryptocurrency holders has reached 575 million. This figure was at 432 million at the beginning of the year. Bitfinex analysts indicated that this number could “rise to between 850 and 950 million.” Analysts forecast that the current bullish market conditions could easily lead to this growth if they continue until 2024. Experts made the following statements on the matter:
Looking ahead to 2024 and depending on market conditions, we estimate that the number of global cryptocurrency holders could rise to between 850 and 950 million… This estimate underscores the growing global interest in and acceptance of cryptocurrencies.
Analysts also emphasized that investment activities in the field continue to grow. They mentioned that if a spot Bitcoin ETF is approved, the market could exceed the expected entries according to the charts. Grayscale CEO Michael Sonnenshein suggested in a CNBC interview on December 20 that the approval of a spot Bitcoin ETF could strengthen Bitcoin.
Number of Crypto Holders
The executive mentioned that Bitcoin could access the approximately $30 trillion advisory market in the US. In addition to Bitfinex, the statistics site Statista also has its own predictions regarding the growth of crypto users. According to Statista, the number of cryptocurrency users could reach approximately 833 million by 2024 and 992 million by 2028.
Despite the challenges of 2023, analysts predict that the growth of global cryptocurrencies will continue and that the number of users could rise to between 850 and 950 million by 2024. According to Bitfinex analysts, as of December 1, the number of global cryptocurrency holders has reached 575 million. The market could exceed the expected entries if a spot Bitcoin ETF is approved, and Bitcoin could reach major markets in the US. According to Statista, the number of cryptocurrency users is expected to reach 833 million by 2024.
