Bitwise Predicts a Bright Future for Crypto in 2024: Top 10 Forecasts
In Brief
Bitwise’s 2024 crypto predictions, ranging from record Bitcoin prices to the rise of prediction markets in the crypto industry.
Following a strong performance in 2023, the crypto industry is poised for an even more successful 2024, according to Bitwise. The firm has released 10 bold predictions outlining what they expect in the upcoming year.
Bitcoin’s Continued Ascendancy. Bitwise predicts that Bitcoin will surpass its previous highs, trading above $80,000 and setting a new all-time record.
ETFs and Institutional Involvement. The firm forecasts the approval of spot Bitcoin ETFs, projecting them to be the most successful ETF launch in history. This aligns with a growing trend of institutional involvement in cryptocurrency.
Coinbase’s Surprising Revenue Growth. Bitwise expects Coinbase’s revenue to double, significantly exceeding Wall Street predictions by at least tenfold.
We are excited to announce the next phase of our Coinbase International Exchange expansion – the launch of non-US spot markets for eligible customers, designed to address the unique needs and demands of our global user base. pic.twitter.com/JWEChT5BDa
— Coinbase 🛡️📞 (@coinbase) December 13, 2023
Stablecoins and Crypto Integration
Stablecoins Overtaking Traditional Payment Systems. Bitwise predicts a notable shift where more money will settle using stablecoins than through Visa, highlighting the increasing reliance on digital currencies for financial transactions.
Wall Street’s On-Chain Tokenization. The prediction includes J.P. Morgan tokenizing a fund and launching it on-chain, signifying Wall Street’s readiness to tokenize real-world assets.
Ethereum’s Revenue Surge. Ethereum is expected to see its revenue more than double to $5 billion as it becomes increasingly popular for crypto applications.
Celebrity Engagement with NFTs. Bitwise foresees pop icon Taylor Swift launching NFTs as a novel way to connect with fans.
Oh hi guys! The Aquamarine Green Edition of 1989 (my version) is available on my site for the next 48 hours 🩵😎https://t.co/klomIqGx38 pic.twitter.com/bWWil3NIf1
— Taylor Swift (@taylorswift13) August 21, 2023
AI and Crypto Integration. Bitwise anticipates that AI assistants will use cryptocurrency for online payments, reinforcing crypto as the “native currency of the internet.”
Growth of Prediction Markets in Crypto. The firm predicts that investors will stake over $100 million in prediction markets, emerging as a new “killer app” for the crypto sector.
Ethereum’s Major Upgrade and Transaction Cost Reduction. Bitwise anticipates an Ethereum blockchain upgrade to drastically reduce transaction costs, fostering more mainstream applications of the technology.
Financial Advisors Adopting Crypto. Bitwise also anticipates that one in four financial advisors will include crypto in client portfolios by the end of 2024.
These predictions by Bitwise reflect a bullish outlook for the crypto industry, suggesting significant advancements and mainstream acceptance in various facets, from institutional investments to everyday applications, signaling a transformative year ahead for the world of digital currencies.
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Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.
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Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.
