Bitwise Forecasts $80,000 Bitcoin Price in 2024
Bitwise, a crypto index fund manager, has released a report predicting a bullish future for Bitcoin. According to the report, Bitcoin’s current price surge will continue into next year, with the cryptocurrency reaching $80,000 in 2024. This forecast is based on two major catalysts: the anticipated launch of spot Bitcoin ETFs in the US and the upcoming bitcoin halving in April 2024.
Predictions for a Prosperous Year in Crypto
In addition to the Bitcoin price prediction, Bitwise’s report includes several other optimistic predictions for the crypto industry in 2024. These predictions include mainstream acceptance of cryptocurrencies, increased institutional interest, and the growth of stablecoins. Bitwise even estimates that there will be more payments made in stablecoins than through Visa. The report also suggests that JP Morgan may launch a tokenized fund using blockchain technology and that Ethereum’s annual revenue will double as transactions increase. Furthermore, it envisions a future where cryptocurrencies become the native currency of the internet.
Hot Take: A Bullish Outlook for Bitcoin
Bitwise’s forecast of an $80,000 Bitcoin price in 2024 aligns with the current bullish sentiment surrounding the cryptocurrency. With its impressive performance this year and the anticipated launch of spot Bitcoin ETFs and bitcoin halving on the horizon, there are strong catalysts for further growth. If these predictions hold true, we could see Bitcoin continue to break new all-time highs and solidify its position as a leading digital asset.
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