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Ripple CEO Made a Bold Prediction for 2024. The claim that the cryptocurrency market will be 5 trillion dollars The total value of the cryptocurrency market is currently around 2.58 trillion dollars. Garlinghouse claimed that the total value would climb up to 5 trillion dollars in the rest of the year. This means that the total value of cryptocurrencies will double in the next 8 months. What factors did Garlinghouse support his claim? Ripple CEO attributed the claim that the total value will double this year to two main factors. Claiming that macroeconomic factors will continue to support the trend towards the crypto sector, Garlinghouse also thinks that new institutional investors will continue to enter the sector through ETFs. However, it is thought that Bitcoin halving will also contribute to the rise. Brad Garlinghouse said that they have been in the industry for a long time and similar trends have come and gone before. Emphasizing that there are some differences between past periods and the current period, Garlinghouse emphasized that crypto-backed ETFs have started to attract real institutional investors for the first time. This year, when the daily supply of BTC will begin to decrease with the halving, the positive effect of the increase in demand for Bitcoin through ETFs is emphasized. Looking at March data, it is seen that Bitcoin miners produced approximately 28,500 BTC, while over 66 thousand BTC were purchased through spot Bitcoin ETFs. Ripple CEO added that there is no need to be an economist to tell what will happen when demand increases while supply shrinks. As a result, Brad Garlinghouse claims that the crypto market could easily double in value given new trends. Garlinghouse is hopeful for 2024 Claiming that 2024 will be a big year earlier this year, Ripple CEO gave positive signals in XRP. The XRP community welcomed Garlinghouse's words as he said this was the first time he had made such a clear bullish claim. Ripple's recent launch of important projects has the community excited about the future of XRP. $BTC $XRP

Ripple CEO Made a Bold Prediction for 2024.

The claim that the cryptocurrency market will be 5 trillion dollars

The total value of the cryptocurrency market is currently around 2.58 trillion dollars. Garlinghouse claimed that the total value would climb up to 5 trillion dollars in the rest of the year. This means that the total value of cryptocurrencies will double in the next 8 months.

What factors did Garlinghouse support his claim?

Ripple CEO attributed the claim that the total value will double this year to two main factors. Claiming that macroeconomic factors will continue to support the trend towards the crypto sector, Garlinghouse also thinks that new institutional investors will continue to enter the sector through ETFs. However, it is thought that Bitcoin halving will also contribute to the rise.

Brad Garlinghouse said that they have been in the industry for a long time and similar trends have come and gone before. Emphasizing that there are some differences between past periods and the current period, Garlinghouse emphasized that crypto-backed ETFs have started to attract real institutional investors for the first time. This year, when the daily supply of BTC will begin to decrease with the halving, the positive effect of the increase in demand for Bitcoin through ETFs is emphasized.

Looking at March data, it is seen that Bitcoin miners produced approximately 28,500 BTC, while over 66 thousand BTC were purchased through spot Bitcoin ETFs. Ripple CEO added that there is no need to be an economist to tell what will happen when demand increases while supply shrinks. As a result, Brad Garlinghouse claims that the crypto market could easily double in value given new trends.

Garlinghouse is hopeful for 2024

Claiming that 2024 will be a big year earlier this year, Ripple CEO gave positive signals in XRP.

The XRP community welcomed Garlinghouse's words as he said this was the first time he had made such a clear bullish claim. Ripple's recent launch of important projects has the community excited about the future of XRP.

$BTC $XRP

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XRP, Solana (SOL), Cardano (ADA), Ethereum (ETH)… Famous Bitcoin Supporter Rang the Alarm Bell for Altcoins! Michael Saylor, founder and president of US-based software company MicroStrategy, once again emphasized his belief that Bitcoin (BTC) is the most important cryptocurrency in the market. Saylor, known for his vocal support for Bitcoin, issued a warning to cryptocurrency investors reminiscent of the legendary scene in "Indiana Jones and the Last Crusade" and invited them to "choose wisely" when evaluating investment options other than BTC. A Bitcoin maximalist, Saylor has been a supporter of MicroStrategy's regular BTC purchases for the past four years and continues to defend the largest cryptocurrency as on day one. Although he has refrained from openly criticizing altcoins like some other prominent names, Saylor recently announced that some altcoins, including #XRP , #Solana (SOL), #Cardano (ADA), and #Ethereum (ETH), have been declared unregistered by the U.S. Securities and Exchange Commission (SEC). He expressed the opinion that it could be classified as securities. MicroStrategy CEO believes that all altcoins may soon be officially designated as securities. For him, this reinforces his belief that Bitcoin is the only cryptocurrency launched for long-term success. Bitcoin is currently the only cryptocurrency classified as a commodity by both the #SEC and the US Commodity Futures Trading Commission (CFTC), giving it a unique regulatory status. Although altcoin king Ethereum also shares this status, recent statements by SEC Chairman Gary Gensler have raised doubts about its classification. As a matter of fact, regulatory pressure on altcoins and cryptocurrency exchanges in the USA has increased in recent years, leading to increased scrutiny. $SOL $ETH $ADA
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Reasons Solana Suffered Significantly from FTX's Decline, According to UBS. | Swiss bank UBS recommends caution with digital currencies, highlighting concerns arising from both general economic conditions and specific problems in the digital currency sector. UBS analysts note that coercive actions by central banks to curb inflation by raising interest rates have significantly reduced growth prospects and appetite for investment, which is having a significant impact on areas such as digital currencies that are strongly linked to volatile technology stocks. They also observed a "significant increase in the synchronization of Bitcoin's price movements with these stocks throughout the year." The report highlights the turmoil in the digital currency market caused by certain events, including the failure of the Terra Luna digital currency, which started a series of bankruptcies in the industry. This wave of bankruptcies engulfed major platforms such as Celsius and investment funds such as Three Arrows Capital. Additionally, in November 2022, the collapse of FTX, previously the second largest digital currency exchange in the world, and its associated trading company Alameda occurred. “FTX's bankruptcy was particularly damaging due to its broad reach in the digital currency network and its previous involvement in supporting other distressed companies,” the report also states. The collapse of FTX and Alameda not only affected their own operations, but also had a negative impact on their associated businesses and investment entities, including Genesis' $175 million financial exposure. The UBS research paper also examines the sharp decline that followed the collapse of FTX, focusing specifically on the negative effects on Solana (SOL) and the entire venture capital landscape. According to the report, "Through Alameda, Bankman-Fried has made direct investments in a number of digital currency projects, including Solana. In early November, Alameda disclosed that SOL was valued at over US$1 billion, accounting for an estimated 10% of the total market capitalization ." $SOL
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