crypto world Bitcoin He is focused on ‘s recent movements. According to Bitwise, Bitcoin (BTC) is expected to trade above $80,000 in 2024. This comes after a remarkable performance in 2023 and especially recently.
Crypto The asset has outperformed major asset classes, gaining 128% compared to 21% for the S&P 500, 12% for gold and 2% for bonds. The forecast for 2024 was made in the light of important developments in the cryptocurrency industry. In addition, it is supported by macroeconomic factors.
Bitcoin’s Upward Trajectory
Koinfinans.com As we reported, in light of the developments, these two important catalysts may increase the value of BTC in the coming year. The first is the launch of a spot Bitcoin ETF in early 2024, which could attract a new wave of capital from both retail and institutional investors.
The second is the Bitcoin halving event, which will take place in April or May 2024 and will halve the amount of new Bitcoin entering the market each year, reducing the supply to the equivalent of $6.2 billion at current prices.
This combination of increasing demand and decreasing supply is a key factor driving the optimistic price forecast.
Other Crypto Predictions from Bitwise
Alongside the rise of the leading crypto asset, Bitwise made a few other important predictions. The firm is of the opinion that spot Bitcoin ETFs will be approved. Additionally, he predicts these will be the most successful ETF launches in history.
Bitwise also predicts significant revenue growth for Coinbase. He expects the largest U.S. stock exchange to double and beat Wall Street’s expectations by at least 10 times.
Additionally, Bitwise foresees significant movements in the tokenization of real-world assets. He envisions JP Morgan potentially tokenizing an on-chain fund, as the market for tokenized assets is predicted to expand significantly. Finally, the company expects pop superstar Taylor Swift to enter the NFT space.