Coinbase analysts forecast an optimistic outlook for the cryptocurrency market as 2024 draws to a close, citing a favorable macroeconomic landscape, recent U.S. election results, and surging interest in Solana memecoins as key factors. David Duong, Coinbase’s Head of Institutional Research, and David Han, Institutional Research Analyst, believe supportive U.S. monetary policy and strong economic conditions will bolster the crypto sector over the coming quarters.
Donald Trump’s election as the 47th U.S. president, with his inauguration scheduled for January 20, 2025, is anticipated to boost crypto markets. Analysts suggest that Trump’s potential deficit-spending strategy could drive more capital flow in the economy, spurring risk-taking and benefiting digital asset markets.
The Coinbase report also highlights that pro-crypto candidates gained seats across the political spectrum in the House and Senate, with the House now holding 263 pro-crypto representatives against 118 anti-crypto, while the Senate has 18 pro-crypto senators against 12 anti-crypto. The outcome has set high expectations for a more favorable regulatory environment, fostering a growth-oriented backdrop for digital assets in 2025.
