We Called It! Coin Bureau 2024 Predictions Reviewed

Summary

In this video, Coin Bureau reviews their 2024 crypto predictions, reflecting on an eventful year for the industry. They successfully predicted the approval of Bitcoin ETFs, Bitcoin hitting new all-time highs, and the global rise of Bitcoin in international trade. They also discussed the growth of stablecoins, public companies adopting Bitcoin, and the election of pro-crypto leaders. While some predictions, like FTX's revival, were wrong, overall, the year was a bullish one for crypto, with significant developments in Bitcoin, Ethereum layer 2s, and AI. Stay tuned for their 2025 predictions at the end of the video.

Takeaways

• 😀 The year 2024 has been a pivotal year in crypto's history, with significant developments and achievements.
• 😀 Coin Bureau's predictions for 2024 were quite accurate, with 6 out of 10 predictions being spot-on, 3 partly right, and only 1 completely wrong.
• 😀 The approval of spot Bitcoin ETFs in the US was a major prediction that came true, leading to a massive influx of institutional money into Bitcoin.
• 😀 Bitcoin reached a new all-time high in 2024, surpassing $100,000 in December, driven by institutional investment and a strong market rally.
• 😀 The halving event in April 2024 did not have an immediate price impact on Bitcoin, as its effects had likely been priced in beforehand.
• 😀 AI emerged as a leading crypto narrative in 2024, surpassing decentralized social media and gaming, which had been other key predictions.
• 😀 Stablecoins saw significant adoption in 2024, with a massive increase in transaction volume, although non-USD stablecoins failed to gain as much traction.
• 😀 Russia's move to legalize Bitcoin for international trade in September 2024 marked a significant step in crypto adoption among sanctioned countries.
• 😀 More publicly traded companies, like Simar Scientific and Meta Planet, began holding Bitcoin on their balance sheets in 2024, following MicroStrategy's lead.
• 😀 The prediction about FTX being restarted was completely wrong, as the company was liquidated due to insurmountable risks and a lack of investor support.

Q & A

What was the main focus of the video?

The video focused on reviewing and analyzing the predictions made at the end of 2023 for 2024 in the crypto space, reflecting on whether those predictions were accurate or not.

What were the predictions for Bitcoin ETFs in 2024?

The prediction was that Bitcoin Spot ETFs would be approved in the U.S., which came true. The ETFs were approved in January 2024, leading to over $35 billion in cumulative inflows by the end of the year.

What was the significance of Bitcoin hitting a new all-time high in 2024?

Bitcoin reached a new all-time high of $100,000 in December 2024, surpassing its previous high of around $69,000. This was largely driven by institutional money flowing into the market after the approval of the Spot Bitcoin ETFs.

How did the Bitcoin halving event impact the price in 2024?

The prediction was that the Bitcoin halving event in April 2024 would have little immediate impact on the price, which turned out to be correct. The market had already priced in the halving, and the price movement occurred later in the year.

Which crypto narratives did the video predict would emerge in 2024?

The video predicted that decentralized social media (Doo), gaming (Gamei), and AI would dominate the crypto narratives. While gaming had some notable projects, AI emerged as the dominant narrative, especially with the rise of AI agents.

What was the outcome of the Ethereum Layer 2 prediction?

While Ethereum Layer 2 solutions were expected to see significant adoption and compete with other Layer 1 blockchains, Ethereum's competition, especially Solana, gained more market attention. Ethereum's Layer 2 solutions still showed success, with Coinbase's Base being a key player.

What happened with stablecoins and global payments in 2024?

Stablecoins saw increased adoption, facilitating $8.5 trillion in transactions in Q2 2024, surpassing Visa's transaction volume. However, the dominance of USD-pegged stablecoins remained, with non-USD stablecoins failing to gain significant traction.

Which countries started using Bitcoin for international trade in 2024?

Russia was a major player in using Bitcoin for international trade, with a law passed in July 2024 allowing crypto for trade payments. Other countries in the BRICS bloc, including Brazil, India, and China, also supported the use of Bitcoin for international transactions.

What was the outcome of the prediction about publicly traded companies holding Bitcoin?

The prediction was correct. In 2024, more publicly traded companies, including Meta Planet and Block (formerly Square), followed MicroStrategy's lead by purchasing Bitcoin for their balance sheets.

What went wrong with the FTX prediction?

The prediction that FTX would be revived in 2024 was completely wrong. Plans to restart the exchange were abandoned, and by January, it was decided that FTX would be liquidated instead due to the high risks and costs involved.

What was the impact of pro-crypto politicians being elected in 2024?

The election of pro-crypto politicians, particularly the re-election of U.S. President Donald Trump with a pro-Bitcoin stance, significantly influenced the regulatory environment for crypto. Other countries, including Argentina, Indonesia, and El Salvador, also saw pro-Bitcoin leaders come into power.