Ah, new year predictions. They come along the first of any new year just like ads for weight loss drugs and health club memberships. Now, new year predictions are totally different from new year resolutions since everyone knows resolutions are certain to be broken. But some predictions may actually be right on and work out. Some other predictions may seem unique, “interesting” and even “outlandish.” Those are the ones everyone should pay attention to, ya know, just in case.
Let’s begin with some predictions which are pretty certain to come true;
- First, artificial intelligence (AI) will permeate into every corner of your life. Everything from medical research, personal assistants, forecasting, language, content creation and ……gasp…..even predictions (no, this is not AI). In other words, AI will dominate the 2024 news.
- Second, there WILL be a spot bitcoin ETF. Now whether the ETF is successful or not is another matter. I predict it will be a huge success after a period of time.
- Third, financial markets will become extremely volatile. That includes equities, bonds and several commodities.
So much for the easy ones. Or, the ones with a 100% (yes, really) probability of actually happening. These predictions are …..interesting.
- Dis-information will dominate the media landscape (not here at DWN, though) as the November elections get closer. Discerning what is truth, fact or fiction will become extremely difficult. Even doubts about what’s up or down, or whether the sun rises in the east, or north, or south or west will cloud thinking.
- Economic numbers (employment, inflation, GDP, etc) released should not be taken at face value. It’s an election year. I predict there will be a great deal of “massaging” financial numbers giving mixed views on the economy……..skewed bullish for sure.
- I predict there will be “election chaos” leading up to the election…….if there is one. There may be an outside chance that election chaos and concern over the integrity of voting MAY result in a delay of holding the elections. Scary.
- Bitcoin will hit an all time high (above $70K) while the SEC tightens regulations on other cryptos (digital assets). Several crypto exchanges may be acquired by larger (CME, CBOE, NYSE, NASDAQ) regulated exchanges.
- The equity markets will NOT experience a 20%+ rise but rather be subject to a 20%+ DECLINE in 2024. The Fed may not lower interest rates……or raise them. Interest rates where they are now may be the “new/old normal.”
- The NFL Buffalo Bills football team will win the Super Bowl.
- There will be no “soft landing” for the economy.
I’ll let the really smart financial analysts and economists post their specific price targets and economic forecasts. They are never wrong (sic) and I am not that smart (we’ll see).
But bottom line….be prepared, very prepared, for a VERY unpredictable 2024.
