In 2023, the financial markets presented a series of unexpected turns, with groundbreaking technological innovations and unexpected economic shifts. As 2024 begins, BlackRock has identified three macro developments that could significantly influence the crypto market. 

These insights are crucial for investors seeking to navigate the digital assets industry and make informed decisions.

What Happened in 2023 and Future Implications

The Unanticipated Strength of the US Economy 

Contrary to the anticipated “hard or soft landing” scenarios, the US economy exhibited a surprising growth trajectory throughout 2023.

“The widely debated “hard landing vs. soft landing” for the US economy turned out to be no landing – or maybe even a takeoff. US GDP growth sequentially accelerated all year and continually outpaced expectations,” BlackRock said. 

This defiance of expectations, fueled by robust GDP growth and substantial fiscal incentives like the Inflation Reduction Act (IRA) and CHIPS Act, presents a unique backdrop for the crypto market. 

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Author: Harsh Notariya

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