A popular crypto analyst is laying out a slew of “contrarian” predictions for the digital asset sector in 2024.
The pseudonymous trader known as Altcoin Psycho tells his 490,400 followers on the social media platform X that he thinks part of the Ethereum (ETH) community will turn on the project’s famous founder, Vitalik Buterin.
However, the trader provides no reason why some members of the ETH community might go against Vitalik.
“I think we see an anti-Vitalik faction form/gain traction. It pains me to write this, and I hope I’m wrong.”
The analyst also thinks that if a spot Bitcoin (BTC) exchange-traded fund (ETF) is approved, it will be celebrated by the crypto community at first but eventually resented.
“I’ll let people guess as to why.”
Altcoin Psycho thinks there will be less prolific hacks on decentralized finance (DeFi) projects this year than last year.
“The dollar size of DeFi exploits in 2024 will be smaller than previous years. I think at least 50% of DeFi exploits were inside jobs.
And with the diminishing availability of mixers/non-KYC (know-your-customer) offramps, it’s harder to pull off inside jobs.”
The analyst does, however, predict there will be an “unprecedented” exploit carried out against a large custodial service like a wallet or exchange.
The analyst also believes artificial intelligence (AI) crypto projects will continue to surge in price.
“Many are calling for the top in AI. But the AI run is just starting. AI-related tokens will outperform all else. We will see a lot of AI acquisitions from big web3 companies. Exchanges, wallets, protocols, etc.”
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxFeatured Image: Shutterstock/NASA images/Sergio99