As the new bull market is gaining traction, Netflix alum and seasoned crypto VC Vance Spencer indicates a number of milestones that the blockchain segment could reach in the next two years. While his prognosis sounds optimistic, he also recommends being prepared for a “roller coaster.”
As the new bull market is gaining traction, Netflix alum and seasoned crypto VC Vance Spencer indicates a number of milestones that the blockchain segment could reach in the next two years. While his prognosis sounds optimistic, he also recommends being prepared for a “roller coaster.”
Ethereum ETF Could Be Next, Vance Spencer Opined
The fourth Bitcoin (BTC) halving, approval of the Ethereum ETF, and growing institutional adoption of digital assets are “what’s next” for us in 2024, Spencer shared with his 85,000 followers on X. Overall, the journey Crypto at this stage should be treated as a marathon, not a sprint.
Furthermore, Web3 games will bring the next 100 million active users to the cryptocurrency scene. Regulatory hostility could be borrowed time, as the odds of a “pro-crypto” administration in the US in 2025 are estimated at 70%.
In terms of macroeconomic context, the market will go through a full cycle of rate cuts and rates will return to 2-3%. Last time, this indicator was below 2% in mid-2022.
At the same time, the situation in the cryptocurrency market will not be entirely rosy: all market participants should be prepared for the roller coasters of the next 24 months.
It is worth noting that Spencer almost managed to accurately predict the approval date of Bitcoin ETFs. In early July, he said they could receive the green light at the end of 2023.
One billion dollars for DeFis: new milestone for 2024-2025
In the same July thread, he emphasized that the approval of the Bitcoin ETF would pave the way for ETFs in various altcoins.
In addition to the ETF saga, the venture capital investor foresees bright medium-term prospects for the DeFi space. As cryptocurrency prices rise, revenue from DeFi protocols will grow “superlinearly.” At least two major DeFis will exceed $1 billion in revenue in the next 24 months.
Previously, he foresaw the rise of the “FAANG of DeFi” that would demonstrate sustainable cash flow and not be vulnerable to “vampire attacks.”
