- Bitwise predicts Bitcoin will surpass $80,000 and a spot Bitcoin ETF approval.
- Ethereum’s revenue expected to double, reaching $5 billion; transaction costs to average below $0.01.
- AI assistants to use cryptocurrencies, Taylor Swift to launch NFTs, and one in four financial advisors to allocate cryptocurrencies.
American crypto asset management company Bitwise has released a series of bold predictions for the year 2024, painting an optimistic future for the cryptocurrency market. These predictions encompass a wide range of developments, from significant price movements to innovative technological integrations.
A key highlight of Bitwise’s forecast is the prediction that Bitcoin’s value will exceed $80,000, signaling a robust recovery and growth trajectory for the leading cryptocurrency. This bullish outlook is further supported by the anticipation that a spot Bitcoin Exchange-Traded Fund (ETF) will finally receive approval, a development long-awaited by the crypto community.
Additionally, Bitwise foresees major strides in the Ethereum ecosystem. It predicts that Ethereum’s revenue will more than double, reaching a staggering $5 billion. This growth is expected to be fueled by increased adoption and the ongoing evolution of the Ethereum network. Furthermore, Ethereum transaction costs are anticipated to average below $0.01, making it more accessible and cost-effective for users.
In a significant crossover between the entertainment industry and the crypto space, Bitwise predicts that pop icon Taylor Swift will launch her own Non-Fungible Tokens (NFTs), indicating a further mainstream embrace of crypto assets.
Another groundbreaking prediction involves artificial intelligence (AI). Bitwise expects AI assistants to start using cryptocurrencies for online payments, illustrating the increasing intersection of advanced technology and digital currencies.
In the financial advisory sector, Bitwise anticipates a considerable shift, with one in four financial advisors expected to allocate cryptocurrencies in client accounts. This reflects growing confidence in cryptocurrencies as a legitimate asset class in the financial planning and investment landscape.
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Lastly, Bitwise speculates that JP Morgan, one of the world’s leading financial institutions, will tokenize a fund. This move could signal a significant shift in traditional finance’s approach to digital assets and blockchain technology.
These predictions, if realized, would mark 2024 as a year of monumental progress and integration for cryptocurrencies, further solidifying their role in the global financial and technological arenas.
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