Bitcoin Expected to Reach New All-Time High in 2024
A Bitwise senior research analyst predicts that Bitcoin will reach a new all-time high of $80,000 in 2024. This projection is based on the anticipated launch of the first spot Bitcoin ETF and the halving event happening in April. The analyst believes these events will act as catalysts for price growth.
Stablecoins Set to Surpass Visa in Settlement Volume
The stablecoin industry is expected to experience explosive growth in 2024. According to Bitwise, stablecoins will be used to settle more volume than Visa payments. Stablecoins have seen significant growth over the past four years, with a market cap of $137 billion. The demand for stablecoins is predicted to continue increasing as investors seek the safety of digital dollars.
Positive Outlook for Ethereum and Coinbase
Ethereum is also expected to perform well in 2024, with a projected 100% increase in revenue to $5 billion. The EIP-4484 upgrade could also lead to lower gas costs on the Ethereum network. Additionally, Coinbase is forecasted to see a 100% growth in revenue next year, outperforming Wall Street expectations.
Hot Take: Crypto Industry Predictions for 2024
In 2024, Bitcoin is expected to reach a new all-time high, stablecoins will surpass Visa in settlement volume, Ethereum will experience significant revenue growth, and Coinbase will outperform Wall Street expectations. These predictions highlight the potential for continued growth and adoption of cryptocurrencies and related technologies.
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