Thread by @RasterlyRock

In 2024... Bitcoin will set a new all-time high, the spot bitcoin ETF will be the most successful ETF launch of all time, Coinbase’s revenue will double, and more…

Here are 10 Crypto Predictions for 2024 by the team at @BitwiseInvest

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Prediction #1: Bitcoin will trade above $80,000, setting a new all-time high.

There are two major catalysts that will help get us there: the anticipated launch of a spot Bitcoin ETF in early 2024 and the halving of new bitcoin supply around the end of April.

Prediction #2: Spot bitcoin ETFs will be approved, and collectively they will be the most successful ETF launch of all time.

Within five years, we estimate spot bitcoin ETFs could capture 1% of the $7.2 trillion U.S. ETF market, or $72 billion in AUM.

Prediction #3: Coinbase’s revenue will double, beating Wall Street expectations by at least 10x.

Historically, Coinbase's trading volumes surge in bull markets, and we expect the same to happen again. Plus, they’ve launched a wide range of new products that are showing traction.

Prediction #4: More money will settle using stablecoins than using Visa.

Stablecoins are one of crypto’s “killer apps,” growing from effectively zero to a $137 billion market in the past four years, and we think 2024 will be another major year of growth.

Prediction #5: JPMorgan will tokenize a fund & launch it on-chain as Wall Street gears up to tokenize real-world assets.

Launching a tokenized fund would allow them to take advantage of the efficiencies on-chain assets can offer while entering a market whose growth is exploding.

Prediction #6: Ethereum revenue will more than 2x to $5b as users flock to crypto applications.

In 2023, users will pay ~$2.3b in fees to use Ethereum. We think that will at least 2x in 2024, making Ethereum one of the fastest-growing large-scale tech platforms in the world.

Prediction #7: Taylor Swift will launch NFTs to connect with fans.

One possibility? Spotify—where Swift was the most-streamed artist in 2023 with more than 26b streams—is experimenting with token-gated playlists that require listeners to own a particular NFT in order to listen.

Prediction #8: AI assistants will start using crypto to pay for things online, affirming crypto as “the native currency of the internet.”

We believe AI assistants will prefer digitally native money, like bitcoin or stablecoins. And we think that starts happening in 2024.

Prediction #9: More than $100 million will be staked in prediction markets, which will emerge as a new “killer app” for crypto.

We think decentralized prediction markets will become a primary venue for both event-based and more traditional sports-related wagering.

Prediction #10: A major upgrade to Ethereum will drive the avg transaction cost below $0.01.

EIP-4844 could result in a 90%+ reduction in the cost to use Ethereum. We think this upgrade will pave the way for the first truly mainstream applications in crypto.

Bonus Prediction: 1 in 4 financial advisors will allocate to crypto in client accounts by the end of 2024.

We anticipate that once bitcoin becomes easily accessible, more and more advisors will allocate to crypto in clients’ accounts.

And that wraps our 2024 predictions. To read the full report, go to: bitwiseinvestments.com/crypto-market-…

Please note: As with all predictions, these are not guarantees, but represent our best informed estimate. The future is complex and conditional, and whether these pan out exactly as written will depend on many complicated factors. Nothing above is investment advice.