The price of the first cryptocurrency will set a new historic high in the coming year, and settlements in stablecoins will exceed Visa’s performance, analysts at a US-based crypto-asset management company believe
In 2024, the bitcoin exchange rate will exceed the $80 thousand mark, setting a new historic high, according to Bitwise. The American crypto asset management company has published its forecasts for the next year, which, in their opinion, should become positive for the cryptocurrency market.
Bitwise has positioned 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 instruments. The firm is known for creating the Bitwise 10 Crypto Index Fund (BITW), a number of cryptocurrency-focused ETFs, and other investment products covering bitcoin, Ethereum, DeFi, and NFT.
Bitwise is now awaiting approval from the U.S. Securities and Exchange Commission (SEC) for a spot bitcoin ETF application.
Assumptions from Bitwise analysts:
– Spot bitcoin ETFs (ETFs) will be approved in 2024, which together will be the most successful ETF launch of all time.
– Cryptocurrency exchange Coinbase’s revenue will double, beating Wall Street’s expectations by at least ten times.
– More payments will be made in stablecoins than with Visa.
– JPMorgan tokenizes assets in its funds using blockchain.
– A major upgrade to the Ethereum network will bring the average transaction cost below $0.01, encouraging more mainstream use of the blockchain. Ethereum’s revenue will more than double to $5 billion.
– Taylor Swift will launch NFT to connect with fans in a new way.
– AI bots will use cryptocurrencies for online payments, cementing their status as the “native currency of the internet.”
– Forecasting markets will exceed $100 million, they will become the new “killer app” (killer app) for cryptocurrencies.
– By the end of 2024, every fourth financial advisor will invest client funds in cryptocurrencies.
Earlier, analytical company Bernstein predicted the approval of bitcoin-ETF in the first quarter of 2024 and the growth of bitcoin rate to $150 thousand by 2025. Experts from Pantera Capital believe that the price of BTC could reach $148 thousand after the halving, scheduled for April 20 next year.
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