What to expect from the crypto market in the second half of the year

For beginners, buying cryptocurrencies can be a real quest. They told me How to buy Bitcoin quickly and securely Directly from bank card.

ETF craze and the long-awaited halving: What will we remember from the first half of the year?

First, we decided to summarize the results of the first half of 2024. Gracie Chen believes that this period is very eventful and important for the crypto market because it brings many major events. Bitget CEO particularly emphasized:

1. Approval of a Spot Bitcoin ETF

Cryptocurrency exchange-traded funds have become a real trend for 2024. It all started on January 10, when the US SEC finally approved this long-awaited financial instrument.

“After a decade of complicated application processes, the spot Bitcoin ETF was finally approved by the SEC,” Gracie recalled.

Now Spot Bitcoin ETF Not only launched and traded in the US market. Thailand Launches Cryptocurrency ETF.

At the same time, the market is already waiting for the launch of similar instruments based on other cryptocurrencies, in particular – Ethereum (ETH) and Solana (Suns)As for which coins might still be lucky, read In our materials.

2. BTC halving

Another equally important event this year is the long-awaited Bitcoin Halving (BTC)It hasn’t ceded the front pages of crypto media to anyone for months.

fourth Halving online Bitcoin occur On April 20, he reduced the miner reward for each new block mined from 6.25 BTC to 3.125 BTC.

«Halving Bitcoin has triggered an increase in market activity and speculation. Historically, halving events usually lead to significant price increases, attracting the attention of retail and institutional investors. “The head of Bitget commented.

3. AI and Depin

Gracie Chen pointed out that in the first half of this year Artificial Intelligence (AI) Field and Depin It also succeeded in attracting widespread attention from the market. The speaker believes that this is how they have become an innovation center for the use of blockchain networks.

“Blockchain enables decentralized and transparent property rights, and artificial intelligence represents a transformation in labor-capital relations. The combination of these two factors is mutually beneficial,” the expert explained.

Chen believes that if we talk about artificial intelligence technology, the “future Internet” plays an important role here. This is the development of financing Web3 Help AI projects attract investment in the early stages of development.

4. EigenLayer and restacking

The latest trend that Bitget CEO is focusing on is Re-staking The term refers to a new idea that suggests coins can be staked on both the main cryptocurrency network and other protocols simultaneously.

Restake was first proposed by Sriram Kannan, the founder of EigenLayer. Your own layer It is a decentralized trust market in the Ethereum ecosystem, aiming to expand the Ethereum trust network.

“Restake closely connects new projects with the Ethereum ecosystem, reduces the circulation of ETH, and creates a new conceptual system through various nested strategies,” said Gracie Chen.

Overall, the community highly appreciates the project and its philosophy. However, there is one point that has caused some disagreement between the community and the re-staking protocol. As to why the community criticized the EigenLayer airdrop, read In our article.

Geopolitical and economic developments: What will determine the size of the second half of the year?

The second half of the year, starting in July, will not even get any less tense – the market will face the same (or even more) major events in the future. Gracie Chen shared with the editor her views on what factors cryptocurrencies should pay special attention to.

1. Regulatory changes

In 2024, the market will pay close attention to any changes in major economies such as the United States and the European Union that may affect the cryptocurrency market. One of the changes is the introduction of rules to regulate the European MiCa digital asset market. Fear The new law will have an extremely negative impact on the stablecoin sector.

“Stay up to date on new laws, tax policies, and regulations,” advises the Bitget CEO.

Another regulatory aspect that cannot be ignored is legal claims. Chen warned that lawsuits and enforcement actions against large cryptocurrency exchanges, projects or influencers could lead to market volatility.

Such legal proceedings could last for years and have far-reaching consequences, as the SEC’s case against Ripple did. Will stop July this year.

2. Technological progress

The second important trend is the sometimes complex technical aspects of cryptocurrencies and blockchain technology. Gracie Chen predicts that all changes in the field – both successful and less successful – have the potential to affect the functioning of the market and how it is viewed by a wider audience.

Earlier, the editor of BIC stated, How are hackers doing in the first half of 2024?. Read all the most important takeaways from our report.

3. Market dynamics

Third, the speaker pointed out that the market landscape itself has changed a lot. With the launch of cryptocurrency ETFs, the market has seen a surge in interest from institutional investors. When (or if) Ethereum (ETH) spot ETF trading begins, Solana (Saul) even Shiba Inu and this interest will only increase as the amount of institutional investment increases.

“The increase in the number of institutional investors will stimulate demand and affect prices. The announcement of major financial institutions entering the cryptocurrency space is significant,” Gracie Chen explained.

Also, don’t forget about more fundamental indicators that are relevant in any period – e.g. Overall market sentimentShe cautioned that changes in sentiment could easily trigger market volatility.

4. Economic factors

Gracie Chen listed global economic trends as the fourth area that cryptocurrency investors should pay attention to. These include: Consumer Price Index (CPI) data As well as the US inflation level, which is always closely watched by the cryptocurrency market. Earlier this week, positive US inflation data Pushing up the Bitcoin exchange rate.

“Macroeconomic trends and the economic stability of major economies will impact the attractiveness of cryptocurrencies as alternative investments.”

Finally, the Bitget CEO said that overall geopolitics — meaning political stability, international conflicts, and trade relations — will influence investor sentiment and market movements.

Buy cryptocurrencies only on trusted websites! Compiled List of the best cryptocurrency exchanges for direct withdrawals to cards.

How is the result?

Finally, we asked Gracie Chen what specific changes traders and investors should prepare for in the second half of 2024. The Bitget chief highlighted several main areas:

• Banks and other traditional financial institutions will increasingly provide services related to digital assets. For example, financial giants revolution, Deutsche Bank Even some Wall Street Bank.
• Changing regulatory environment. The speaker expects that clearer rules can provide greater certainty and stability for the industry, attracting more participants and investment.
• The crypto industry is constantly evolving and a plethora of new technologies are emerging. This will allow the market to solve a multitude of existing problems and move forward on the path to mass adoption.

Overall, Gracie Chen, CEO of popular cryptocurrency exchange Bitget, is optimistic about the prospects of the digital asset market and looks forward to the successful development of the industry.