WOO predicts that Bitcoin will rise to $75,000 by early 2024. This bullish prediction is based on the co-occurrence of the ETF and the Bitcoin halving, which is expected to position Bitcoin as a solid safe-haven asset.
In response to this development, Jack Tan, co-founder of WOO, shared his insights: The much-anticipated launch of ETFs and the upcoming Bitcoin halving will significantly increase demand. The combination of these two conditions is expected to reshape traditional investments
In a 17-page year-end review and 2024 outlook report, WOO emphasized that institutional participation, optimism in Eastern markets, and the growth momentum of DeFi will be key developments in the coming year.
WOO’s 2024 forecast:
Institutional impact: Major investors, such as pension funds and sovereign wealth funds, are preparing to allocate directly to cryptocurrencies. We expect CME Group’s futures market share to surge, with retail participation recovering driven by East Asia, such as South Korea and Japan. Amid regulatory challenges, the disruptive power of DeFi will drive perpetual contract exchanges, which are expected to account for 30% of global daily trading volume in 2024.
WOO X Global’s growth trajectory: WOO In addition, there will be an emphasis on strategic partnerships, network expansion and product innovation to enhance mobility, user engagement and overall performance.
Expansion of WOOFi: WOOFi is about to begin expanding, especially WOOFi Swap, to meet the needs of cross-chain exchange and decentralized yield vaults. DeFis market share continues to rise, challenging CeFis dominance, and WOOs diverse DeFi suite has an advantage in this highly competitive environment.
While regions such as South Korea, Japan and Singapore still maintain strict, localized policies, Hong Kong has moved ahead with a formal licensing system, signaling Beijings changing view of the industry.
2024 is a pivotal year for WOO as it looks to the surge in Bitcoin while navigating the ever-changing cryptocurrency landscape and positioning itself at the forefront of DeFi innovation and institutional adoption.
Please download WOO 2024 Annual Outlook for free here:https://blog.woo.org/content/files/2023/12/A-definitive-guide-to-WOO-in-2024-1.pdf
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