Blockchain Predictions for the Coming Years
As the new bull market gains traction, seasoned crypto VC Vance Spencer offers a positive outlook for the blockchain segment. He indicates several milestones that the blockchain industry could reach in the next two years. However, he also advises being prepared for a “roller coaster” ride.
ETF Approval and Growing Institutional Adoption
Vance Spencer opined that the approval of an Ethereum ETF and the growing institutional adoption of digital assets could be the next milestones for the industry in 2024. He also emphasized the need to treat the crypto journey as a marathon and not a sprint, suggesting a long-term approach.
Spencer also mentioned that Web3 games could attract the next 100 million active users to the cryptocurrency scene. Additionally, he estimated a 70% chance of a “pro-crypto” administration coming into power in the U.S. by 2025, potentially reducing regulatory hostility.
In terms of the macroeconomic context, Spencer predicted that the market would go through an entire rate-cutting cycle, with rates returning to 2-3%. He highlighted the importance of being prepared for market fluctuations in the next 24 months, cautioning that it wouldn’t be smooth sailing all the time.
Bitcoin ETF Approval and DeFi Milestones
Spencer almost accurately predicted the date of the Bitcoin ETF approval, indicating that they could be green-lit by the end of 2023. He also stressed that the approval would pave the way for ETFs on various altcoins.
Looking ahead, Spencer foresees bright prospects for the DeFi sphere, with at least two major DeFis expected to cross $1 billion in revenue in the next 24 months. He also previously predicted the emergence of the “FAANG of DeFi,” a group that would demonstrate sustainable cash flow and resilience against “vampire attacks.”
It’s clear that the blockchain industry is set for significant developments in the coming years, with various milestones on the horizon. While Spencer’s predictions are optimistic, it’s essential to approach the journey with caution and be prepared for the unexpected.
