The price of the number one cryptocurrency in the coming year will set a new historical high, and analysts at a US crypto asset management company believe settlements in stablecoins will exceed Visa’s figures.
In 2024, the Bitcoin rate will exceed $80 thousand, setting a new historical maximum, according to Bitwise. The American crypto asset management company has published its forecasts for the next year, which should be positive for the cryptocurrency market.
Bitwise positions itself as one of the largest and fastest-growing crypto asset management companies. It offers both index and active strategies across a wide range of investment vehicles. The firm is known for creating the Bitwise 10 Crypto Index Fund (BITW), a range of cryptocurrency-focused ETFs, and other investment products covering Bitcoin, Ethereum, DeFi, and NFTs.
Bitwise is currently awaiting approval from the US Securities and Exchange Commission (SEC) for its application to create a spot Bitcoin ETF.
Other Bitwise Predictions
Crypto exchange Coinbase’s revenue will double, exceeding Wall Street expectations by at least ten times.
More transactions will be carried out in stablecoins than with Visa.
JPMorgan tokenizes the assets in its funds using blockchain.
A major upgrade to the Ethereum network will result in the average transaction cost dropping below $0.01, encouraging more widespread use of this blockchain. Ethereum revenue will more than double to $5 billion.
Taylor Swift will launch NFTs to connect with fans in new ways.
AI bots will use cryptocurrencies for payments on the Internet, assigning them the status of the “native currency of the Internet.”
Prediction markets will exceed $100 million in size and will become the new “killer app” for cryptocurrencies.
By the end of 2024, one in four financial advisors will invest clients’ funds in cryptocurrencies.
Recently, analysts at Bernstein predicted the approval of a Bitcoin ETF in the first quarter of 2024, which has already occurred, and the Bitcoin rate will increase to $150 thousand by 2025. Also, experts from Pantera Capital believe that the price of BTC could reach $148 thousand after the halving, scheduled for April 20 next year.
