3 more big stock market predictions for 2024

At the end of each year, I like to make a list of big predictions for the financial markets for the coming year.

Last year, I achieved a success rate of 9 out of 10, including calling over 20% of rallies correctly. S&P500 and an increase of over 30% Nasdaq.

Don’t dress too dirty.

However, this year we aim to achieve 10-10.

Yesterday, I posted my first four big predictions for 2024. These include predictions that the market will rise at least 15%, that growth stocks will continue to dominate, that AI stocks will continue to perform well, and that the stock market bull market will continue to grow and move further and further away. From big tech stocks to small caps.

Today I’m sharing three more of my big predictions for the stock market in 2024.

Let’s check them out:

• Bitcoin will reach $100,000. Frankly, cryptocurrencies are very predictable. Every four years there is a Bitcoin halving event, where the supply of new Bitcoins released with every transaction is cut in half. During these halving events, cryptocurrencies tend to struggle. However, spikes typically occur before and after these events. Specifically, cryptocurrencies begin to rise approximately 12 months before the halving and continue to rise until 12 months after the halving. His fourth halving of Bitcoin is scheduled for April 2024. Similar to previous patterns, the cryptocurrency started rising in early 2023, about 12 months before its fourth halving. This pattern seems to be continuing. As a result, it looks increasingly likely that cryptocurrencies will continue to soar over the halving and the subsequent 12 months. This suggests that the cryptocurrency market will maintain its momentum until at least the beginning of 2025. Our fundamental analysis shows that Bitcoin will reach $100,000 during this rally. We are very optimistic about cryptocurrencies and crypto stocks in 2024. Additionally, for what it’s worth, we also accurately predicted a BTC bottom in late 2022 and a big rally in 2023.
• The housing market is poised for a boom. Over the past two years, the company has struggled with fluctuations in mortgage rates, which rose from a 20-year low of 2% in 2021 to a 20-year high of 8% in 2023. . However, this major headwind is now reversing. Mortgage rates have fallen sharply from 8% to 6.5% in the past two months after the Federal Reserve signaled an end to rate hikes and a readiness to start cutting rates. The market expects the Fed to begin lowering interest rates in March 2024 and continue through 2025.
  • Historically, mortgage rates have plummeted whenever the Fed has cut interest rates. As a result, mortgage interest rates are expected to drop significantly in 2024. These lower mortgage rates could reinvigorate previously sidelined demand for home purchases and unlock existing housing supply. The housing market is expected to see significant increases in both demand and supply next year. Typically, a market booms when both market demand and supply increase significantly. Therefore, we expect a boom in the housing market in 2024.
• The solar power industry will see a major resurgence. Along with the housing market, it was hit hard in 2023 by rapidly rising interest rates. Most solar projects are financed, and high interest rates that year made them increasingly unaffordable. Nevertheless, there remains a huge demand for solar energy, coupled with a significant legislative push to support the construction of solar infrastructure. Therefore, if rates are lowered and affordability improves in 2024, pent-up demand is likely to surge and re-enter the solar market. We expect the solar energy industry to recover significantly next year.

Those are my three big market predictions for 2024.

Considering my predictions so far, it’s clear that I’m bullish on the stock market in 2024. However, we believe that certain sectors such as cryptocurrencies, housing, and solar power generate the highest returns.

These areas will be the focus of my investment strategy over the next year.

Tomorrow, I’ll share my final three major predictions for the stock market in 2024. Please stay tuned.

During, If you want access to my latest and greatest stock picks, click here.

On the date of publication, Luke Rango did not have (directly or indirectly) any positions in the securities mentioned in this article.