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A new report by investment firm VanEck lays out 15 projections for the cryptocurrency landscape 2024. The report dives into the key possibility of whether Ethereum can dethrone Bitcoin.

Contradictory to the notion, the report mentioned that Ethereum will fall short of flipping Bitcoin next year despite robust gains.

The analysis sees Bitcoin retaining its position as the largest cryptocurrency by market capitalization. Bitcoin may also attract state-level support from countries like Argentina. The report also points to Bitcoins clear regulatory status and higher energy consumption. This is forecast to attract interest from quasi-state entities in regions such as Latin America, the Middle East, and Asia.

Also read:Bitcoin From Satoshi Era on the Move: Heres Where Its Headed

As the fifth country to sponsor Bitcoin mining at the state level, Argentina, through its state-owned energy giant YPF, is signaling interest in mining digital assets.

Despite the outlook, Ethereum is expected to outrun mega-cap tech stocks massively. VanEck believes Ethereum will surge post-halving when Bitcoin miners rewards are cut in half. This historically triggers a renewed Bitcoin price surge, with profits flowing into altcoins afterward.

However, despite beating major stocks, Ethereum wont overtake Bitcoin, as speculation of flippening suggests. While some likelihood of ETH becoming more valuable in daily trade volume exists, Bitcoin is still seen as maintaining its market cap lead.

Also read:Shiba Inu To 1 Cent? Google Bard Predicts When SHIB Could Hit $0.01

The report mentions that Ethereum may lose share to other smart contract platforms like Solana with clearer scaling roadmaps. The report also covers other predictions, including Bitcoins possibility of hitting a high in 2024, NFT activity to resurrect, and others.

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Will Ethereum Flip Bitcoin in 2024? VanEck Weighs In - Watcher Guru