eGirl Capital Recap of 2023 Investments and 2024 Cryptocurrency Market Forecast

Title: UPDATES FROM OUR 2D HEDGEFUND AND 2024 PREDICTIONS
Source: eGirl Capital
Translator: 0x26
Editor’s Note: eGirl Capital is a magical crypto fund that only invests in two projects a year, making them rarely seen in funding announcements. However, the projects they participate in are well-known, such as Arbitrum, Blur, Blast, Celestia, Lido, Gearbox, and Gem.
Different from the traditional VC impression, eGirl, born in crypto and loyal to crypto, is very active on social media. In fact, almost everyone in eGirl is a KOL, involved in secondary market contract trading, narrative trading, meme mastery, shitposting, and even founders of crypto projects. Some of the more well-known members include DegenSpartan, Loomdart, Alchemix founder Scoopy, CL, inversebrah, and hedgedhog.
The diverse and three-dimensional personalities of eGirl are like superheroes in the Marvel universe, and even in this article, each member has different perspectives on 2024. Through the forecasts of different eGirl members, we can understand the most realistic views of these knowledgeable KOLs on the 2024 crypto market.
With Christmas approaching, we are pleased to summarize the progress of eGirl Capital in 2023 and the predictions for 2024.
After making a small investment in Celestia in 2022, we made two investments in 2023, leading the first and second rounds of OhBabyGames, who are developing games for CT (Crypto Twitter) and a Steam-like client. We are proud of this, and we also led BLAST’s community round, although not recognized despite support from Paradigm. We believe BLAST is the future of multi-signature contracts.
We will continue to invest with a target of about two times a year. Here are our predictions for 2024:
Table of Contents
Toggle
Bullish on the Supercycle Triggered by ETFs
Continued Bullish on Ethereum
Mixed Market Sentiment
G: Continues to rise, with most Tradfi still not believing in the bull market’s arrival, and the public’s investment psychology remains unchanged. 2024 marks the clear beginning of the decades-long supercycle of BTC (and later ETH), with permanent DCA entering spot ETFs.
CL: Up only, but not as steep as in 2021. The current CME contract open interest indicates investor optimism for approved spot Bitcoin ETFs and higher participation. Market participants seem more professional this cycle, with involvement in mainstream coins on centralized exchanges, altcoins on centralized platforms, on-chain altcoins, and small picture collectors. I believe this situation will continue.
Loomdart: The supercycle restarts. We will rise slowly and steadily, without the craziness of 2021. People are realizing how to invest in cryptocurrencies more prudently.
Loma: Ethereum deflation and CEX holdings seem unimportant, but institutional interest and speculation on ETFs in 2024 lead to ETH price soaring over $3000. The recovery of ETH prices reignites interest in NFTs among ordinary users, opening up the next NFT bull market. However, previous NFT blue-chip stocks (BAYC, PUNK, Pudgy Penguins) did not create new highs priced in ETH. Do Kwon returns under a new alias to start another project.
Emily: The return of quantitative easing in 2024. As people seek alternative value storage solutions, cryptocurrencies and commodities/physical assets rise. Tradfi shifts from buying FTX shares to spot ETFs.
Scoopy: Better versions and more of everything: RWAs, infrastructure, derivative gambling, Ponzi schemes, rug pulls, DeFi, small pictures, and more. All emotions about cryptocurrencies, except indifference, will be amplified. The market is overall rising, but economic softness suppresses what should have been a comprehensive bull market.
PopcornKirby: 2024 is a good time to become a maximalist for Ethereum. Looking at CME’s open interest in contracts, Tradfi has no Ethereum positions, only needing a popular crypto game/NFT collection to revamp the entire industry.
Eva: Ethereum. Infrastructure and user experience are ready to provide high-quality decentralized application experiences, institutional capital is pouring in, and DeFi is about to explode. And there’s zero-knowledge proof. Looking back on the history of cryptocurrencies, one will see the difference before and after the widespread adoption of zero-knowledge technology; 2024 is the beginning of the zero-knowledge era.
knlae // 0xKNL__: Bitcoin’s “fundamentals” remain at the center of market action, making the market more challenging than expected, with significant uncertainties (cash flows, elections, first rate cuts, quantitative easing, etc.).
Most traders will suffer severe losses throughout the year; by the end of the year, over 100 RIAs (registered investment advisors) using BTC ETF-based SMAs have surged in, actively promoting, but they need time to adapt; Ethereum catalysts (such as ETFs and LSD) + EIP-4844 drive a sharp rise in ETH. SOL’s market performance can still surpass ETH.
The combination of cryptocurrencies and artificial intelligence may give rise to multiple projects worth over $5 billion. RWAs are running at full speed for Tradfi and the public. Interest-bearing stablecoins (over $30 billion by the end of the year) and better cryptocurrency infrastructure are finally starting to serve unbanked users in Latin America and Africa, becoming the second truly killer app for cryptocurrencies (after speculation). The US Treasury and IRS will take strict regulatory measures, causing cryptocurrencies to slump again by the end of 2024.
CryptoCat: The first Tradfi Layer 2 is about to be announced. There are plenty of games built on Layer 2, but none are fun. Lido experiences the first Shelton crisis. The foundation survives. Account abstractions land, causing funds to be damaged due to confusion. The exchange rate between ETH and BTC breaks the highest point.
Original Article Link
Note: BlockBeats has adjusted the original order and added a summary title.
This article is authorized for reprint by BlockBeats.