Sirwin
Sirwin

Bitwise Crazy Predictions For 2024

By Astroboy13 | CryptoByte | 3 Jan 2024


The end of a year is always the moment for resolutions and predictions for the year to come. Bitwise is not an exception. 

As you will see, they see a lot of great things happening for Bitcoin and the crypto industry.

Bitcoin Predictions….

Bitwise, one of the largest crypto firms with a variety of products such as ETFs and private funds, known for their pending BTC ETF spot, made some ambitious predictions regarding Bitcoin’s price, Coinbase, Taylor Swift, and more.

For the price of Bitcoin, they see the king of crypto reaching an all-time high before the end of 2024 at $80,000. It will notably be propelled by the Bitcoin halving set to happen in May.

Furthermore, their experts believe the approval of the BTC ETF spot will be ‘the most successful launch of all time’ causing ‘a wave of new capital from retail and institutional investors, leading to a rise in demand for Bitcoin.

….Real world assets, Stablecoins, Coinbase….

Stablecoins are gaining increasing prominence in the crypto world. Bitwise experts expect that the transaction volume of all stablecoins will surpass Visa payments.

1*lEf6F1sKqTt_eXlz8Rdh-w.png

This leads to another perspective : Coinbase revenues will double, surpassing Wall Street predictions that Brian Armstrong’s company will only experience a 9% gain.

1*KJnvsJ62wv-fXfFng3B6rA.png

The financial institutions having more and more interest into crypto and his tech might explain this prediction. In fact a lot of Investement firms such as Blackrock choose Coinbase in order to back their ETFs : 

1*hLq58nW8ztZZ_68yh_KluA.png

Speaking of institutions, another prediction is that J.P. Morgan will tokenize a fund and launch it on-chain. This is, of course, because of the hype around real-world assets (RWA). This is a very interesting perspective, if it becomes a reality, it would integrate blockchain into our everyday lives.

….Ethereum and Taylor Swift ?

Bitwise also has a prediction for Ethereum, their revenues will reach 5 billions :

1*wS7tnLDJUaNVb7-D6BA5-Q.png Source : DefiLlama

As you can see, last year’s revenue was around 2.40 billion, so a 2x increase is very realistic, considering that Ethereum will gain a lot of users after the EIP-4844 update, bringing fees on Layer 2 to almost zero.

Furthermore, Ethereum is a chain of innovation, they popularize smart contracts, and NFTs first started on Eth, for example. So, I’m optimistic about the future of the prince of crypto.

Speaking about NFTs, they are predicting that Taylor Swift will launch NFTs due to her attachment towards musicians owning their own songs, and it’s a new way to connect with her numerous fans.

Bitwise history of Predictions : 

 

1*DYeU__9m8sMaRFpAnieXwg.png 1*Z7jALNNuF3pfr9ED2nO8uw.png Source : Bitwise

As you can see, they got at least 5 out of 10 expectations right. We’ll see how it goes this year !

See all of the repport here.

And you ? What are your predictions for this year ?

As Always thank you for reading !

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Disclaimer : This is not a financial advice, you need to do your own research !

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Astroboy13
Astroboy13

I'm a crypto entousiast


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