The number of cryptocurrency users will approach a billion in 2024

Analysts of the Bitfinex crypto platform have announced that amid a bullish market trend, the number of cryptocurrency users could reach 950 million next year.

As of December 1, 2023, the number of crypto asset holders is about 575 million. «And in 2024, we expect that the number of cryptocurrency holders worldwide may grow to 850 million or even 950 million,» the analysts write.

Bitfinex is very positive about the prospects for bitcoin and crypto assets in general.

«If 2023 has demonstrated anything, it is the amazing resilience of bitcoin, despite reputational and regulatory issues,» the experts write.

Currently, the total market capitalization of cryptocurrencies is approximately $ 1.6 trillion, but under the conditions that are changing right now, it has a chance to soar to $ 3.2 trillion, according to economists from Bitfinex.

«Given the history of economic instability in countries such as El Salvador and Argentina, we should expect that citizens will continue to turn to cryptocurrencies as a hedge against devaluation and inflation,» the experts conclude.

The most anticipated event of 2023−2024, the approval of a spot bitcoin ETF by the US Securities and Exchange Commission (SEC), which may take place in early January 2024, will also affect the influx of users.