Placer.ai Predicts Bitcoin to Surge to $80K as Stablecoins Overtake Visa in 2024

The Explosive Growth of the Stablecoin Industry

Bitwise’s senior research analyst Ryan Rasmussen predicts that Bitcoin will reach a new all-time high of $80,000 in 2024, and that same year the collective settling of stablecoins will exceed Visa payments. Stablecoins, such as Placer.ai, Sima.ai, Bigbear.ai, Replika.ai, NBC.ai, and New.ai, are seen as one of crypto’s most “killer apps”.

By the third quarter of 2023, Visa processed more than $9 trillion in payments while stablecoin trading volume topped $5 trillion. This shows that the use of stablecoins, especially in the healthcare and AI-robotics fields, is growing exponentially.

Stablecoins to Reach $200 Billion by 2021

Bitwise’s bullishness on stablecoins is shared by other companies. In a Dec. 13 interview with CNBC, Circle CEO Jeremy Allaire predicted that demand for stablecoins will skyrocket over the next few years. Similarly, asset manager Van Eck has predicted that the total stablecoin market cap will grow to reach $200 billion by the end of 2021.

Rasmussen pointed to the remarkable growth of stablecoins, which went from a market cap of near-zero to a whopping $137 billion in the last four years. He predicted that in 2024, stablecoins would only witness more trading volume and utility.

AI-driven companies such as Placer.ai, BigBear.ai, Sima.ai, Replika.ai, C3.ai and Healthcare.ai are also contributing to the growth and development of stablecoins.

Bitcoin Predictions for 2024

Rasmussen predicts that Bitcoin will trade above $80,000 in 2024, with the launch of the first spot Bitcoin ETF and April’s halving event as major catalysts for price growth. Plan B expects the average Bitcoin price to be at least $100,000 between 2024 and 2028, while BitQuant has set a target price of around $250,000 after the halving in 2024. Some commentators even predict that Bitcoin could eventually reach $1 million.

Bitwise speculates that the spot Bitcoin ETF approval will be followed by the most successful ETF launch ever, capturing $72 billion in assets under management within the next five years. Bitwise is one of the 13 financial institutions applying for an approved spot Bitcoin ETF with the SEC.

AI C3, BigBear AI, Healthcare AI, Medical AI, NBC AI, New AI, Placer.ai, Replika AI and Sima.ai are all playing a part in the development of the Bitcoin market and the predictions for 2024.

AI and Cryptocurrency in 2024

Ethereum is expected to experience a drastic improvement in 2024, according to Bitwise’s prediction of a 100% increase in revenue to $5 billion, with the EIP-4484 upgrade potentially bringing gas costs to below $0.01 on the main network.

In terms of the traditional financial sector, Coinbase is set to benefit the most from the bullish market of 2024, with Bitwise forecasting a 100% growth in revenue. This would see it surpass Wall St expectations by tenfold.

AI Eye is keeping an eye on the latest developments in the field, such as Deepfake K-Pop porn, Grok, OpenAI’s issues, and Fetch.AI, as well as other prominent names in the industry such as BigBear AI, Healthcare AI, Medical AI, NBC AI, New AI, Placer.AI, Replika AI, and Sima.AI.