For 2024, the cryptocurrency market will finish this year with BTC on a strong note as experts predict major movements in this region. An asset management firm by the name of Bitwise has made some fantastic cryptocurrency predictions projected for this year.
Bitcoin’s Future: Set To Make History In 2024
The predictions by Bitwise on the cryptocurrency market in 2024 also point out an exciting milestone for Bitcoin as it is expected that Bitcoin will rise above 80k which currently is the highest price recorded of about $69k. Currently, Bitcoin increased by 4.94 percent within the past day for its price of $42,943. This forecast is likely to see a rise of at most 87 percent of bitcoin’s value.
Bitwise’s Broad Range of 2024 crypto forecast
Bitwise also gives its projections for ethereum in 2024 among other cryptocurrencies. The company expects average transaction fees for Etherum, main smart contracts place, to tumble down under 0.1USD by the end of next year, while today fees average is about 0.4USD. According to Bitwise, they expect a tenfold increase in revenues of the Ethereum’s network, exceeding $5 billion.
In addition to this, Bitwise hypothesizes that by 2024, JP Morgan, a worldwide powerhouse bank, is expected to tokenize at least one fund. Additionally, the company estimates an increased convergence of cryptocurrencies and financial consultancy. Accordingly, one-fourth of these consultants plan to add crypto-assets as well as part of their customers’ portfolios. Moreover, BitWise predicts increased adoption of crypto-payments powered by AI based assistants.