Bitwise Envisions a Promising Future for Cryptocurrency in 2024: Top 10 Predictions for the Coming Year

After a stellar 2023 performance, the cryptocurrency sector is set for an even more remarkable 2024, as affirmed by Bitwise. They have articulated ten forward-thinking forecasts regarding what may unfold in the coming year.

The Rise of Bitcoin Continues. According to Bitwise's outlook, Bitcoin is anticipated to break through previous records, aiming to trade over $80,000, thereby establishing a new peak. Bitcoin Institutional Engagement is Expected to Expand. The firm predicts that spot Bitcoin ETFs will receive regulatory approval, potentially marking the most significant ETF launch in history. This trend reflects the growing interest from institutions in the cryptocurrency sphere.

ETFs Coinbase Gear Up for Exceptional Revenue Growth. Bitwise forecasts a doubling of Coinbase's revenue, wildly surpassing Wall Street's conservative estimates by a factor of ten.

We are thrilled to announce a new chapter in our Coinbase International Exchange journey – rolling out non-U.S. spot markets for select customers to cater to the distinct needs of our global clientele. Coinbase’s A Shift Towards Digital Payment Solutions. Bitwise foresees a defining moment where stablecoins will be utilized for more financial transactions than traditional providers like Visa, underscoring the growing preference for cryptocurrency in commerce.

This prediction includes J.P. Morgan venturing into the realm of tokenizing a fund, subsequently launching it on-chain, a clear signal that Wall Street is ready to embrace the tokenization of tangible assets. pic.twitter.com/JWEChT5BDa

— Coinbase 🛡️📞 (@coinbase) December 13, 2023

Stablecoins and Crypto Integration

Stablecoins The anticipated revenue for Bitwise is expected to soar past $5 billion as it gains traction among developers in the crypto space.

Wall Street’s On-Chain Tokenization Bitwise predicts that pop superstar Taylor Swift will venture into the NFT world, creating a new way to engage with her fans.

Ethereum’s Revenue Surge. Ethereum Hey everyone! The Aquamarine Green Edition of 1989 (my version) is now available on my site for the next 48 hours 🩵😎.

Celebrity Engagement with NFTs It is expected that AI assistants will start utilizing cryptocurrency for online transactions, further establishing crypto as the 'native currency of the internet.'

Emergence of Prediction Markets in the Crypto Arena. Bitwise forecasts that more than $100 million will be staked in prediction markets, which are emerging as a new must-have in the crypto landscape. https://t.co/klomIqGx38 pic.twitter.com/bWWil3NIf1

— Taylor Swift (@taylorswift13) August 21, 2023

AI and Crypto Integration. Bitwise Major Upgrades Coming for Ethereum and a Reduction in Costs. Bitwise anticipates that an upgrade to the Ethereum blockchain will significantly lower transaction fees, making the technology more applicable for wider use.

Financial Advisors Starting to Embrace Crypto. Bitwise also foresees that by the end of 2024, one out of every four financial advisors will integrate cryptocurrency into their clients' portfolios.

These insights from Bitwise paint a bullish picture for the crypto world, indicating major developments and greater acceptance across various domains, from institutional investments to everyday consumer applications, promising an exciting year ahead for digital currencies.

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Nik is a seasoned analyst and contributor at Metaverse Post, specializing in delivering the latest insights into the rapidly evolving tech sphere, focusing particularly on areas like AI/ML, XR, VR, blockchain analytics, and the development of blockchain technology. His writings engage a diverse readership, helping them stay ahead in the world of technology. With a Master’s degree in Economics and Management, Nik possesses a nuanced understanding of the business environment and its interplay with cutting-edge technologies.