American crypto asset company Bitwise has made 10 bullish crypto predictions for 2024. Amongst these predictions, there are bold ones, such as Bitcoin surpassing the $80,000 mark, approval of spot Bitcoin exchange-traded funds (ETF), and others.
2024 is considered to be an important year for the crypto ecosystem, with the expectations of a new bull run. The approval of spot Bitcoin ETF from the US Securities and Exchange Commission (SEC) and the Bitcoin halving event are considered major catalysts for the bull run.
What Are The 10 Crypto Predictions From Bitwise Team?
Bitwise has filed for a spot in Bitcoin ETF with the SEC, along with giants such as BlackRock and Fidelity. The final deadline for the SEC to respond to Bitwise’s Bitcoin ETF is January 10, 2024.
Ryan Rasmussen, a senior crypto research analyst at Bitwise Asset Management, shared the top 10 crypto predictions for 2024. The predictions are as follows:
- Bitcoin will trade above $80,000, setting a new all-time high.
- Spot bitcoin ETFs will be approved, and collectively, they will be the most successful ETF launch ever.
- Coinbase’s revenue will double, beating Wall Street expectations by at least 10x.
- More money will be settled using stablecoins than using Visa.
- JPMorgan will tokenize a fund & launch it on-chain as Wall Street gears up to tokenize real-world assets.
- Ethereum revenue will be more than 2x to $5b as users flock to crypto applications.
- Taylor Swift will launch NFTs to connect with fans.
- AI assistants will start using crypto to pay for things online, affirming crypto as “the native currency of the internet.”
- More than $100 million will be staked in prediction markets, emerging as a new “killer app” for crypto.
- A major upgrade to Ethereum will drive the average transaction cost below $0.01
As the broader community expects a bull run in 2024, there have been many bold price predictions. Many consider Rasmussen’s predictions as conservative, in fact, an X (Twitter) user called $80,000 a bearish prediction for Bitcoin.
Earlier this month, BeInCrypto reported that Bloomberg analysts predicted a Bitcoin supercycle, wherein the price can surge as much as $530,000.
Read more: How To Prepare for a Bitcoin ETF: A Step-by-Step Approach
Can Stablecoins Beat Visa?
Another bold prediction from Rasmussen is that the settlements using stablecoins will beat Visa’s numbers. He believes:
“Stablecoins are one of crypto’s “killer apps,” growing from effectively zero to a $137 billion market in the past four years, and we think 2024 will be another major year of growth.”
This can only be possible if there is exponential growth in the use-case of the crypto ecosystem. A major catalyst could be if Rasmussen’s eighth prediction about AI assistants using crypto for online payment turns true. He wrote:
“We believe AI assistants will prefer digitally native money, like bitcoin or stablecoins. And we think that starts happening in 2024.”
Read more: What Is a Stablecoin? A Beginner’s Guide
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For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.
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Source: https://beincrypto.com/bitwise-top-crypto-predictions/