Nicolas Louvet, the boss of the French crypto platform Coinhouse, takes stock of the year 2024. After the spectacular rise of bitcoin, investors should look at its main challenger, he assures.
L’Express: How do you explain the surge in bitcoin in 2024?
Nicolas Louvet: Bitcoin follows four-year cycles linked to halving, a process that halves its production by the network. This scarcity causes the price to rise in the following six to nine months, first for bitcoin, then for other cryptos. We then observe a fall in the markets and a loss of interest from investors for twelve to eighteen months. This cycle repeats itself: after last year’s halving, 2025 should therefore be a favorable year, before perhaps a more difficult phase in 2026.
The increase in 2024 can also be explained by the institutionalization of this asset, in particular with the launches of Bitcoin ETFs in the United States. These financial products, which allow indirect investment in bitcoin, have collected more than 100 billion dollars in less than a year. Finally, the election of Donald Trump, favorable to cryptos, reinforced the upward trend at the end of the year, after a period of wait-and-see between May and October.
What factors will be taken into account this year?
Macroeconomics will be crucial. In the second half of 2025, a deterioration in economic indicators could lead to a change in the economic situation. Cryptos, partially correlated to the American stock market, would not be immune to a decline in investor appetite for risky assets.
Have you felt an impact on your activity?
Coinhouse, created ten years ago under the name La Maison du bitcoin, has accumulated more than a billion euros in inflows since then. In 2024, we recorded several historic collection records in March, November and December. We are also seeing significant exit volumes, with some clients having realized exceptional capital gains.
Can you still become a millionaire today?
It’s possible, but it requires patience and strategy. The potential remains high: bitcoin could reach $300,000 within five years and $700,000 to $800,000 in ten to fifteen years. By taking advantage of declines to make acquisitions, it is still possible to hope for very good performances.
Should we be interested in cryptos that have progressed less?
Of the 23,000 existing cryptos, only 200 are really relevant. Coinhouse selected 57, almost all of which have seen their price increase since November. Some, like stellar and XRP, gained between 420% and 500% in thirty days. Diversification can pay off, but keep in mind that these cryptos remain riskier than bitcoin. Ethereum, its main challenger, shows strong potential for 2025. ETFs issued on this asset, less efficient initially, have performed well since Trump’s election. We advise our clients to arbitrage part of their bitcoins in favor of ethereum and other cryptos.
You integrate stablecoins into your managed management: what do they bring to a portfolio?
Stablecoins are cryptos backed by a fiat currency such as the dollar or the euro. They allow arbitrages without being subject to capital gains tax, unlike conversions into euros. In our managed management, we adjust the exposure to cryptos according to the market. In the event of a reversal, we reduce exposure in favor of stablecoins. This allows us to suffer less shocks and take advantage of a drop in bitcoin to reinvest afterwards.
Any advice for first-time investors?
It is essential to understand this market well before investing. Find out the price history and prepare for the possibility of a decline. Only invest a reasonable amount, which you can set aside for several years. Avoid daily trading, which is rarely profitable, and prefer scheduled investments. Finally, it is important to entrust your savings to a regulated and reliable player. At Coinhouse, we are one of the few platforms to have professional liability insurance and to stand behind the cryptos you deposit with us.