Amidst the rising tide of the new bull market, Vance Spencer, a seasoned crypto venture capitalist and former Netflix executive, outlines several key milestones expected to shape the blockchain industry in the next two years. While Spencer’s projections exude optimism, he also cautions investors to brace themselves for the inherent volatility, likening the journey to a “roller coaster.”
In a recent communication with his 85,000 followers on X, Spencer highlighted the potential approval of an Ethereum Exchange-Traded Fund (ETF) as a significant development on the horizon. Alongside this, he anticipates the fourth Bitcoin halving and continued institutional adoption of digital assets to mark crucial milestones in 2024. Emphasizing the marathon-like nature of the crypto journey, Spencer urges investors to adopt a long-term perspective.
Additionally, Spencer predicts that Web3 games will usher in the next wave of cryptocurrency adoption, potentially attracting millions of new users to the space. Despite lingering regulatory uncertainties, he suggests that the tide may turn in favor of crypto enthusiasts, with the likelihood of a “pro-crypto” administration in the U.S. by 2025 estimated at 70%.
From a macroeconomic standpoint, Spencer forecasts a full rate-cutting cycle, with interest rates returning to the 2-3% range, a level last seen in mid-2022. However, he warns that amidst these developments, market participants should brace for volatility, anticipating fluctuations over the next 24 months.
Spencer’s previous predictions have demonstrated remarkable accuracy, notably his forecast regarding the approval date of Bitcoin ETFs, which he anticipated by the end of 2023.
Looking ahead, Spencer envisions a new milestone for the decentralized finance (DeFi) sector, with at least two major DeFi protocols expected to surpass $1 billion in revenue by 2024-2025. This bullish outlook aligns with his earlier prediction of the emergence of a “FAANG of DeFi,” a robust DeFi platform characterized by sustainable cash flow and resilience against “vampire attacks.”
Overall, Spencer’s insights provide a glimpse into the potential trajectory of the crypto market, marked by significant milestones and continued growth in both ETFs and DeFi protocols.