Some financial institutions, such as Standard Chartered, predict that bitcoin will reach the US$100,000 level by 2024, but Bitwise appears to be a little more conservative in its outlook. The manager believes that BTC will reach US$80,000, which, in any case, represents a new historical high. The expectation is based on the performance of the cryptocurrency in 2023. While the S&P 500 returned 21% year-to-date and gold, 12%, bitcoin appreciated 128% in the same period analyzed. Furthermore, two factors are expected to boost bitcoin:

1- The launch of a spot bitcoin ETF: scheduled for early 2024, it is speculated to usher in a wave of new capital from institutional and retail investors, causing demand for BTC to increase.

2- The bitcoin halving: in April or May 2024, the supply of new bitcoins produced each year will be reduced by half after the next cryptocurrency halving. In other words, BTC will become scarcer and therefore possibly more expensive.

⭕️I'm very excited about it.