Research

A tough year is ending. Inflation, interest rates, wars, and more made the bearish market sentiment, in TradFi and crypto alike, so omni-present during 2023, that many investors were caught by surprise that Bitcoin made +150% (at least at the time of writing this early December). Any TradFi investor would call you crazy for naming a market with a 150% surge a bear market. Well, welcome to crypto – and the Crypto Outlook 2024 edition!

It has been two years since the crypto market peaked, and while 2023 was somewhat convenient, anyone following the space is certainly wondering: what’s next? Will history rhyme and ship yet another four-year cycle on the back of the Bitcoin halving? Will we finally see true crypto adoption based on product-market fit? Will we see an institutional bonanza triggered by a spot ETF approval? Is there a potential black swan looming? And not to forget, when supercycle?

Since discovering Bitcoin in 2016, Harald Rauter has been focusing on developing the investment case for Bitcoin as a mechanism for achieving superior economic- and environmental returns. Harald Rauter advises ESG-sensitive capital pools like foundations, HNWI and enterprises in developing tailored investment strategies that leverage Bitcoin’s unlocking potential for higher risk-adjusted returns while simultaneously achieving unrivaled CO2 emission reduction. For the past 10 years he has been an investor and portfolio manager for climate- positive investments both in the public- as well as the private sector. Harald Rauter holds a PhD in Natural Sciences from ETH Zürich and a master’s degree in economics from the Vienna University of Economics.