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The manager of Bitwise released its 10 predictions for the market cryptocurrencies in 2024, including the forecast that the price of bitcoin will reach a new historical record from US$ 80 thousand. Furthermore, the company believes that Spot bitcoin ETFs will be approved and that the revenue from the Coinbase will double. Other predictions include increased use of stablecoins, The tokenization of real-world assets by Wall Street, the growth of revenue of ethereum and the launch of NFTs by Taylor Swift. A Bitwise also predicts that AI assistants will use cryptocurrencies for online payments, more than US$ 100 million will go to markets forecast and a major upgrade in ethereum will reduce the average transaction cost to less than US$ 0.01.
Main highlights:
- The price of bitcoin will reach a new historical record of US$ 80 thousand in 2024
- Expectation of approval of the Spot bitcoin ETFs
- A revenue from the Coinbase will double, exceeding Wall Street projections
- O use of stablecoins will increase, becoming more common in payment settlement
- Tokenization of real-world assets and launch of NFTs by Taylor Swift
A forecast from the Bitwise for the market bitcoin It is cryptocurrencies in 2024 shows a promising scenario, with perspectives of increasing growth and adoption. Although these predictions are not guarantees, they indicate a clear trend of market strengthening and the potential positive impact of these technologies in the future.
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New Historical Record Prediction for Bitcoin in 2024
Bitwise, a digital asset manager, made a bold prediction for the bitcoin in 2024. According to the company, the price of the cryptocurrency will reach a new historical record, reaching the mark of US$ 80 thousand. This forecast is based on the performance of the bitcoin throughout 2023, as well as two key factors that will drive its value in the coming years: the launch of a spot bitcoin ETF and the upcoming bitcoin halving.
The launch of a spot bitcoin ETF is eagerly awaited by the financial market. This type of fund will allow institutional and retail investors to access bitcoin more easily and securely, making it more attractive as an investment option. A approval of a spot bitcoin ETF will bring greater liquidity to the market, attracting new investors and boosting demand for the cryptocurrency.
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The next bitcoin halving, scheduled to take place in 2024, is also an important factor in predicting a new all-time high. Halving is a scheduled event that halves miners' bitcoin rewards. This occurs every four years and has a significant impact on the supply of bitcoins, making it a scarce asset. Historically, halving has been accompanied by a substantial appreciation of bitcoin, leading to significant increases in its price.
“We believe that bitcoin's solid performance in 2023, coupled with the launch of a spot bitcoin ETF and the upcoming halving, will boost its value, taking it to a new all-time high of US$ 80K in 2024,” Bitwise stated in your report.
This prediction from Bitwise is in line with the expectations of other financial institutions. Standard Chartered, for example, also predicts that bitcoin will reach even higher levels, such as the US$ 100 thousand mark. These bullish predictions reflect growing confidence in bitcoin and its potential as an established and valuable asset class.
| Year | Bitcoin Price |
|---|---|
| 2020 | US$ 9,150 |
| 2021 | US$ 29,000 |
| 2022 | US$ 60,000 |
| 2023 | US$ 50,000 |
| 2024 (Forecast) | US$ 80,000 |
Approval of Spot Bitcoin ETFs
Bitwise, a renowned investment manager, is optimistic about the approval of not just one, but several Spot bitcoin ETFs. According to their projections, these ETFs have the potential to capture a significant portion of the financial market, reaching an impressive amount of US$ 72 billion over the next five years.
Bitwise experts believe that spot bitcoin ETFs will be the most successful ever, further driving adoption of this cryptocurrency and solidifying its position on the global financial stage. The spot bitcoin ETF market is seen as a safe and efficient alternative for investors who want exposure to bitcoin without the need to purchase the cryptocurrency directly. The approval of these ETFs would be a major milestone for the sector, providing an easier and more attractive entry for institutional and retail investors.
Bitwise believes that the imminent approval of these ETFs is a reflection of the growing acceptance and interest in digital assets, not only from investors, but also from regulatory agencies. Recognizing spot bitcoin ETFs as legitimate financial products would be another step towards their full integration into the mainstream financial system.
With the expansion of bitcoin ETFs in sight, the market would have the opportunity to attract an even larger investor base and offer more options for those who wish to include bitcoin in their investment portfolios. This approval could also boost ETF liquidity, bringing even more investors into the market. cryptocurrencies as a whole.
Bitwise's optimistic predictions about the approval of spot bitcoin ETFs suggest a new era of possibilities for investors and bitcoin itself. As these financial products become available, bitcoin will be able to be traded much more easily and securely, leading to greater adoption and appreciation of this revolutionary cryptocurrency.
Table 1: Comparison between Spot Bitcoin ETFs and Direct Bitcoin Purchase
| Aspect | Spot Bitcoin ETFs | Direct Bitcoin Purchase |
|---|---|---|
| Ease of access and negotiation | Made easier, as it can be traded like a share on the stock exchange | Requires registration with an exchange cryptocurrencies and carrying out direct transactions |
| Investment diversification | Possibility to add bitcoin to a diversified portfolio without directly purchasing the cryptocurrency | The investment is linked only to the performance of bitcoin |
| Asset security | Bitcoins are kept in secure custody wallets, protecting investors from theft and hacks | The investor is responsible for storing and protecting their own bitcoins |
| Regulatory approval | Requires approval from financial regulatory agencies, ensuring greater investor protection | Regulations may vary from country to country and offer less investor protection |
The spot bitcoin ETF format offers a number of advantages over directly purchasing bitcoin. ETFs provide a more convenient, secure and diversified way to invest in bitcoin, making this cryptocurrency accessible to a wider audience. The expected approval of spot bitcoin ETFs by Bitwise is an important step towards the expansion of the cryptocurrency market and a unique opportunity for investors to enjoy the benefits of bitcoin in a simplified way.
In section 3 of our upcoming article, we discuss the potential approval of Bitcoin ETFs. The Bitwise investment firm is optimistic about the approval of not just one, but several Bitcoin spot ETFs. They anticipate these ETFs capturing a significant portion of the financial market, reaching a staggering $72 billion within the next five years.
Experts at Bitwise project that these Bitcoin spot ETFs will be the most successful of all time, further driving the adoption of the cryptocurrency and solidifying its position in the global financial landscape. These ETFs are seen as a secure and efficient alternative for investors who want exposure to Bitcoin without directly acquiring the cryptocurrency. Approval of these ETFs would be a major milestone for the industry, providing an easier and more appealing entry point for institutional and retail investors alike.
The imminent approval of these ETFs reflects the growing acceptance and interest in digital assets, not only among investors but also regulatory agencies. The recognition of Bitcoin spot ETFs as legitimate financial products would be another step towards their full integration into the conventional financial system.
With the expansion of Bitcoin spot ETFs, the market would have the opportunity to attract an even larger investor base and offer more options for those looking to include Bitcoin in their investment portfolios. This approval could also boost the liquidity of ETFs, attracting more investors to the cryptocurrency market as a whole.
Bitwise's optimistic projections regarding the approval of Bitcoin spot ETFs suggest a new era of possibilities for investors and for Bitcoin itself. As these financial products become available, Bitcoin can be traded more easily and securely, leading to greater adoption and appreciation of this revolutionary cryptocurrency.
Table 1: Comparison Between Bitcoin Spot ETFs and Direct Bitcoin Ownership
| Aspect | Bitcoin Spot ETFs | Direct Bitcoin Ownership |
|---|---|---|
| Accessibility and Trading Ease | Facilitated as it can be traded like a stock on the stock exchange | Requires registration on a cryptocurrency exchange and direct transactions |
| Investment Diversification | Possibility to add Bitcoin to a diversified portfolio without directly acquiring the cryptocurrency | Investment is solely tied to the performance of Bitcoin |
| Asset Security | Bitcoins are held in secure custody wallets, protecting investors from theft and hacks | Investors are responsible for storing and securing their own bitcoins |
| Regulatory Approval | Requires approval from financial regulatory agencies, offering greater investor protection | Regulations may vary from country to country and provide less investor protection |
The format of Bitcoin spot ETFs offers several advantages over direct Bitcoin ownership. ETFs provide a more convenient, secure, and diversified way to invest in Bitcoin, making the cryptocurrency accessible to a wider audience. The expected approval of Bitcoin spot ETFs by Bitwise is a significant step towards the expansion of the cryptocurrency market and a unique opportunity for investors to leverage the benefits of Bitcoin in a simplified manner.
Coinbase Revenue and Usage of Stablecoins
Bitwise, a renowned manager of the cryptocurrency market, made some important predictions for the year 2024. Among them, the significant growth in revenue from Coinbase, one of the main brokers in the sector.
According to Bitwise, revenue from Coinbase it will more than double by 2024, exceeding Wall Street projections. The manager's estimate is that the brokerage will achieve revenue in excess of US$ 5.690 billion. This robust growth reflects growing investor adoption and interest in cryptocurrencies, driving transaction volume on the Coinbase platform.
Bitwise also demonstrates optimism regarding the use of stablecoins, such as USDC (USD Coin) and USDT (Tether). These digital currencies, anchored to fiat currencies like the US dollar, have been widely adopted as an alternative to the volatility of traditional cryptocurrencies.
The company projects that the use of stablecoins will increase significantly in the coming years, even surpassing the number of transactions carried out through credit cards such as Visa and Mastercard.
The growing demand for stablecoins reflects the need of investors and financial market users for stable and secure digital assets. These digital currencies have proven to be an efficient solution for fast and low-cost transactions, offering more accessibility and practicality for users.
Bitwise believes that the increasing use of stablecoins will further drive the mass adoption of cryptocurrencies, strengthening the decentralized finance ecosystem and accelerating the transition to a digital economy.
Benefits of Using Stablecoins:
- Speed in transactions;
- Low transfer cost;
- Stability in relation to traditional cryptocurrencies;
- Reduction of financial intermediation;
- Facilitated access to financial services;
- Protection against inflation and volatility of fiat currencies.
By adopting the use of stablecoins, users have the possibility of taking advantage of all the advantages of cryptocurrencies, such as security, privacy and decentralization, without giving up the stability and practicality offered by digital currencies anchored in fiat currencies.
Real-World Asset Tokenization and Ethereum Revenue
In the cryptocurrency market, the tokenization of real-world assets has been increasingly explored as an innovative way to gain exposure to tangible assets, such as real estate and works of art, through digital tokens. Bitwise, a renowned manager in the sector, predicts that large financial institutions, such as JP Morgan, will enter this market in 2024, launching tokenized funds.
The company sees the tokenization of real-world assets as a growing trend that will drive the use of blockchain in the mainstream finance sector. By using blockchain technology to create tokens that represent physical assets, transactions become faster, more efficient and transparent. This opens up new investment opportunities, liquidity and access to assets previously inaccessible to many investors.
Furthermore, Bitwise anticipates significant growth in ethereum revenue in 2024. The ethereum platform is known for its ability to support smart contracts and decentralized applications. With the growing adoption of cryptocurrency applications and the migration of users to the ethereum platform, the company projects that the ethereum revenue it will more than double, reaching US$ 5 billion.
| Financial institution | Year of Entry | Tokenized Funds |
|---|---|---|
| JP Morgan | 2024 | Real estate funds, works of art |
| Goldman Sachs | 2024 | Commodity funds, precious metals |
| Morgan Stanley | 2024 | Alternative investment funds |
The entry of large financial institutions into this market is an indication that the tokenization of real-world assets is gaining traction and consolidating itself as a new investment class. This trend has the potential to revolutionize the way assets are bought, sold and traded, providing greater accessibility, efficiency and transparency in the financial market.
The next few years promise to be exciting for the cryptocurrency market and blockchain technology. The tokenization of real-world assets and the growth of ethereum revenue are just some of the trends that could further drive the adoption and development of these innovations.
Taylor Swift NFTs and Online Payments with Cryptocurrencies
Bitwise predicts that renowned singer-songwriter Taylor Swift will launch an exclusive collection of NFTs as a unique way to connect with her fans. NFTs (Non-Fungible Tokens) are unique digital assets that can represent works of art, music, videos and other digital content. They allow fans to own an exclusive part of their favorite artists' story.
This initiative by Taylor Swift demonstrates the growing adoption and popularity of NFTs, which have revolutionized the way content creators interact with their audiences. NFTs allow artists to monetize their art and establish a more direct and authentic connection with their fans.
Additionally, Bitwise projects that artificial intelligence (AI) assistants will begin using cryptocurrencies to complete online payments. With the evolution of AI, the integration of cryptocurrencies as a form of payment will become increasingly common. This trend represents a convenient and secure way to carry out financial transactions in the digital era.
Bitwise believes that bitcoin and stablecoins will be the most used assets for online payments. Bitcoin, as the most well-known and established cryptocurrency, offers a reliable and widely accepted option. On the other hand, stablecoins are cryptocurrencies that have their value linked to a fiat currency, such as the US dollar. This makes them more stable and suitable for everyday transactions.
Bitwise predictions indicate that the combination of NFTs and cryptocurrency online payments will further drive the adoption and use of these innovative technologies. NFTs provide an exclusive experience for fans and a new way to value digital art, while cryptocurrency payments offer security, agility and convenience in digital transactions.
“The combination of NFTs and online payments with cryptocurrencies will open up new possibilities for artists and the public, creating more direct and transparent relationships between them.” – Bitwise
| Benefits of Taylor Swift NFTs | Advantages of Online Payments with Cryptocurrencies |
|---|---|
|
|
These Bitwise predictions indicate that the future of financial transactions and the entertainment market will be increasingly digital and decentralized. The combination of NFTs and online payments with cryptocurrencies offers a new perspective and enhances interaction between artists and fans at levels never seen before.
Conclusion
Bitwise predictions for the bitcoin market and cryptocurrencies in 2024 show a positive and optimistic scenario. The manager believes that bitcoin will reach a new all-time high, spot bitcoin ETFs will be approved, Coinbase revenue will double, more money will be settled using stablecoins, and the tokenization of real-world assets will become more common. Additionally, Bitwise predicts ethereum revenue growth, the launch of NFTs by Taylor Swift, the use of cryptocurrencies for online payments, and the strengthening of prediction markets. While these predictions are not guarantees, they indicate a clear trend of growth and adoption of cryptocurrencies in the future.
In this context, it is clear that the cryptocurrency market is consolidating and becoming increasingly relevant on the global financial scene. Bitcoin remains the leading cryptocurrency, with perspectives of reaching even higher heights in 2024. The approval of spot bitcoin ETFs will open doors for institutional investors and boost the market as a whole.
Coinbase's revenue expansion and increased use of stablecoins represent a significant shift in the financial landscape, with digital currencies gaining ground in the world of payments. At the same time, the tokenization of real-world assets creates new investment opportunities and democratizes access to traditionally restricted segments.
With Taylor Swift's predicted launch of NFTs and the growing use of cryptocurrencies in online payments, we can expect greater integration of cryptocurrencies into people's daily lives. These predictions indicate a promising future for the sector, with potential for innovation, economic growth and transformations in the way we carry out financial transactions.
FAQ
What is Bitwise's prediction for the price of bitcoin in 2024?
Bitwise predicts that the price of bitcoin will reach a new all-time high of US$ 80 thousand in 2024.
What does Bitwise predict about the approval of spot bitcoin ETFs?
Bitwise predicts that spot bitcoin ETFs will be approved and capture a significant portion of the financial market.
What is Bitwise's prediction for Coinbase's revenue in 2024?
Bitwise predicts Coinbase's revenue will more than double by 2024, surpassing Wall Street projections.
What does Bitwise project about real-world asset tokenization and ethereum revenue?
Bitwise predicts that large financial institutions will enter the tokenization of real-world assets and that ethereum revenue will more than double by 2024.
What are Bitwise's predictions about Taylor Swift's NFTs and online cryptocurrency payments?
Bitwise predicts that Taylor Swift will release an NFT collection and that AI assistants will begin using cryptocurrencies to complete online payments.
Are these predictions guarantees?
No, these predictions are just Bitwise's projections and indicate a trend of growth and adoption of cryptocurrencies in the future.
Source Links
- https://investnews.com.br/criptonews/10-previsoes-para-o-mercado-de-criptomoedas-em-2024/
- https://einvestidor.estadao.com.br/criptomoedas/bitcoin-tem-perspectivas-ambiciosas-para-2024/
- https://www.infomoney.com.br/onde-investir/8-criptomoedas-promissoras-para-2024-alem-de-bitcoin-e-ethereum-segundo-especialistas/
