Blockchain Milestones Predicted by Seasoned Crypto VC Vance Spencer
As the new bull market gains traction, seasoned crypto VC Vance Spencer predicts several significant milestones for the blockchain segment in the next two years. Despite his optimistic forecast, he advises being prepared for a “roller coaster.”
ETF Potential and Other Milestones in 2024
Vance Spencer believes that the approval of an Ethereum ETF, the fourth Bitcoin halving, and the increasing institutional adoption of digital assets are possible milestones for the crypto market in 2024. He emphasizes that the crypto journey should be approached as a marathon, not a sprint, at this stage.
Additionally, Spencer anticipates that Web3 games will attract the next 100 million active users to the cryptocurrency scene and suggests that regulatory hostility towards crypto may be on borrowed time, given the estimated 70% likelihood of a “pro-crypto” administration in the U.S. by 2025.
From a macroeconomic perspective, Spencer forecasts a complete rate-cutting cycle, with rates returning to 2-3%. He notes that the last time this indicator was below 2% was in mid-2022.
However, he cautions that the cryptocurrency market may face challenges, and all market participants should brace themselves for potential volatility in the next 24 months.
Anticipated Developments in DeFi
Spencer also foresees a significant milestone for DeFi, with at least two major DeFis expected to surpass $1 billion in revenue in the next 24 months. He previously predicted the emergence of the “FAANG of DeFi,” a group of decentralized finance projects demonstrating sustainable cash flow and resilience against “vampire attacks.”
Ultimately, Spencer’s insights offer valuable perspectives on the potential future developments in the crypto and blockchain space, guiding market participants through the anticipated milestones and challenges ahead.
