Bitwise Predicts Bitcoin ETF Approval Propels Surge to $80,000 Milestone in 2024! Bitwise
Bitwise Predicts Bitcoin ETF Approval Propels Surge to $80,000 Milestone in 2024! Bitwise Invest’s research analyst, Ryan Rasmussen, has made a bold prediction that Bitcoin ETF approval will surge to an all-time high of $80,000 in 2024. While Rasmussen didn’t pinpoint a specific month or quarter, he outlined two pivotal catalysts driving this forecast. First, the eagerly awaited launch of a spot Bitcoin ETF in early 2024, and second, the scheduled halving of new BTC supply expected around the end of April or early May. Given Bitcoin’s current trading price of approximately $42,700, Rasmussen’s projection implies an 87% climb to achieve the envisioned peak. In addition to the Bitcoin price prediction, Rasmussen shared Bitwise‘s broader outlook for 2024, including projections that the spot Bitcoin ETF will mark the most successful ETF launch in history, Coinbase’s revenue will double, and more. Notably, Rasmussen offered an ambitious estimate for the spot Bitcoin ETF market’s growth over the next five years. He anticipates that within this period, spot Bitcoin ETFs could capture 1% of the $7.2 trillion U.S. ETF market, translating to $72 billion in assets under management (AUM). This forecast has sparked discussions about the potential influx of $100 billion into BTC markets following regulatory approvals.
