- Bitfinex analysts are optimistic about the crypto industry in 2024.
- Analysts predict crypto users will reach almost a billion.
- Pro-crypto nations will likely lead the surge.
Despite crypto facing a tumultuous year in 2022 and a relatively volatile market at the beginning of this year, analysts anticipate the industry to rebound as we enter 2024, with some forecasting that the number of users could almost double.
In a recently issued report, analysts from crypto exchange Bitfinex have highlighted that the number of global crypto owners peaked at 575 million as of December 1, up from 432 million at the beginning of the year. This number is poised to grow.
Bitfinex Predicts Crypto Users to Reach 850-950 Million
Per the report, the industry is expected to continue seeing robust growth in adoption come next year, with analysts forecasting the number of users to grow to almost a billion.
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“We anticipate that the number of global cryptocurrency owners could escalate to between 850 and 950 million as the monthly rate of growth usually increases to over 3.8-4.4 percent if we take 2021 bull market as a reference point and assume the current bullish market conditions to carry over throughout the entirety of 2024,” the report read.
While the projection underscores the increasing global interest in digital assets and acceptance of cryptocurrencies, the analyst cautioned that the growth was contingent upon market conditions.
At the same time, analysts expect certain countries to continue shaping the future of crypto adoption, including El Salvador, which they noted would focus on bolstering the infrastructure to support Bitcoin transactions.
Other countries to watch out for as far as crypto adoption is concerned in 2024 include Switzerland and Argentina.
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Read how Bitfinex hackers pled guilty:
Bitfinex Hackers Plead Guilty to Stealing Billions in Crypto
Stay updated on why Salvadorians still prefer cash to Bitcoin:
Bitcoin Not King: Salvadorians Still Prefer Cash
