Bitwise believes crypto is on the cusp of entering its “mainstream era” as we enter 2024 and outlined ten predictions of what’s to come in the year ahead.

Having outperformed major asset classes in 2023 — up over 150% year-to-date compared to 22% for the S&P, 40% for the Nasdaq and 12% for gold — Bitwise analysts expect bitcoin to continue that trend, reaching an all-time high above $80,000 in 2024, according to a report.

The analysts cite two main catalysts for this. Firstly, a wave of new capital following anticipated spot bitcoin ETF approvals on the demand side — potentially capturing 1% of the $7.2 trillion U.S. ETF market, or $72 billion, within five years. Secondly, on the supply side, the Bitcoin halving event (when the block reward gets cut in half) is expected to fall in …