Cryptocurrency markets experienced significant fluctuation in 2023. While Bitcoin rose to the level of $ 48,000 at the beginning of the year, it fell to the level of $ 30,000 at the end of the year. Ethereum experienced a similar fluctuation, rising to $4,000 at the beginning of the year and falling to $2,500 at the end of the year.
The basis of these fluctuations lies in increasing regulations on cryptocurrency markets, as well as global economic developments. Inflation and recession concerns in the global economy caused investors to move away from risky assets. This situation also led to selling pressure in the cryptocurrency markets.
On the other hand, increasing regulations on cryptocurrency markets also cause fluctuations in the markets. For example, the Central Bank of the Republic of Türkiye banned the use of cryptocurrencies as a means of payment in 2023. This ban led to selling pressure in the cryptocurrency markets in Turkey.
It is not yet known exactly how the cryptocurrency markets will perform in 2024. However, global economic developments and increasing regulations on cryptocurrency markets seem to continue to cause fluctuations in the markets.
The developments expected in the cryptocurrency markets in 2024 can be listed as follows:
Inflation and recession concerns will continue. This situation will cause investors to move away from risky assets and lead to selling pressure in cryptocurrency markets.
Regulations on cryptocurrency markets will continue to increase. These regulations will provide greater transparency and protection in markets, but will also increase volatility.
Cryptocurrencies will begin to be accepted by a wider audience. This will enable new investors to enter the markets and support growth.
As a result, cryptocurrency markets seem to continue to follow a volatile course in 2024. However, markets are expected to continue growing and becoming more widely accepted.
