Cryto: Reflecting on 2023 and predicting the changes of 2024

Cryto: Reflecting on 2023 and predicting the changes of 2024

As 2023 draws to a close, it's time to reflect on the ups and downs that we've experienced this past year and look forward to what 2024 might bring.

Although the ensuing discourse might seem whimsical, it initiated after waking up this morning and jotting down predictions for the following year. Therefore, if only 20% of these prophecies resonate with you, then it's quite justified. Let's embark on the predictions:

  1. Evolution of Artificial Intelligence (AI): Big models in AI will trigger the creation of experiences superior to that of ChatGPT. Those working at the cutting edge of AI's language understanding capabilities are leading us towards the dawn of a new era in computing, one that's as powerful and transformative as the introduction of graphical user interfaces and the internet itself. However, these AI models need more receptive bodies, much like any programming language needs top-notch integrated development environments (IDEs) and any OS needs an elegantly flat UI/UE.
  2. Cryptocurrency and Web3 Wallets: The value of Web3 wallets in Crypto will become increasingly prominent. In the same way that the internet era transitioned from portal to search engines and finally to integrated apps, the same will occur with wallets. The dominance will fall to whoever can provide the most convenient gateway for users. The success of these wallets will also prompt retroactive analysis of CEX and DEX liquidity capacity, and discussions about Web3 wallet experiences & capabilities.
  3. Bitcoin breakthrough: Bitcoin will cross the $150,000 mark igniting the interest of more public companies and financial institutions to adopt and support BTC.
  4. Elon Musk's involvement in Cryptocurrency: Expect more showmanship from Elon Musk that will influence the price and attention around Dogecoin. The appeal of Dogecoin, thanks to Musk, attests that media influence and celebrity endorsement can be powerful triggers for a cryptocurrency's popularity.
  5. Web2 to Web3 transition for existing Game Companies: There will be significant conversions from Web2 Game Companies to Web3 platforms. This shift will be nudged by successful GameFi inspiring market traction, resulting in the inflow of many excellent game creation teams.
  6. Bitcoins Ecosystem will continue to proliferate: The success of Bitcoins can largely be accredited to its decentralized philosophy rather than increased production or propagation efficiency. Bitcoins will continue to draw developers and communities worldwide, keeping its value driven by decentralized ideologies.
  7. Zero-Knowledge Proofs (ZKP) Ecosystem: ZKP Ecosystem might take over Ethereum's Layer 2 backed by Arbitrum/OP Stack. However, it would be powered by aggressive builders, investors, and driven pioneers rather than existing ZKP.
  8. Integration of AI and Web3: There will be a significant narrative around AI and Web3 integration. Ignoring this inevitable unification will be a missed opportunity.
  9. The state of NFT Market: We may potentially witness the sale or even the demise of the largest NFT marketplace. As NFTs seamlessly interweave with BTC, it's crucial to foresee these indicators of transformative trends.
  10. A Booming 2024 year: Most diversifications of 2023 are expected to converge in the bullish market of 2024, making it more pleasing to all. It could also be a crucial year for new entrants to reclaim their half of the market voice they deserve.

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