#BitcoinPrediction #BitwiseInvest #BitcoinETF #BitcoinHalving #CryptoMarket #Coinbase #Ethereum #Stablecoins
Bitwise Invest research analyst, Ryan Rasmussen, on December 13, laid out his predictions for Bitcoin by the year 2024. According to Rasmussen, two significant events are likely to contribute towards boosting the price of Bitcoin to an astounding $80,000 in 2024. The first trigger will be the launch of a spot Bitcoin ETF anticipated in early 2024. The second trigger will be the halving of new BTC supply that is expected to occur around the end of April or early May of 2024.
Currently trading at around $42,700, Bitcoin would need to surge more than 87% to reach the projected new peak. One of the bold predictions by the Bitwise analyst is regarding the size of the ETF market in the next five years. Rasmussen predicts that spot Bitcoin ETFs could potentially capture 1% of the $7.2 trillion U.S. ETF market, equating to $72 billion in Asset Under Management (AUM). What’s more, Rasmussen also anticipates that more transactions will be conducted using stablecoins than Visa. This is based on the rapid growth of stablecoins from being practically nonexistent to a $137 billion market in just four years. Rasmussen also anticipates the revenue of Ethereum to more than double to $5 billion in 2024, growing it into one of the world’s fastest-growing large-scale tech platforms.
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