In a newly published prediction report, Bitget, a leading derivatives crypto exchange, forecasts a vibrant future for the Bitcoin ecosystem, with BTC potentially soaring to $100,000 and the ORDI BRC20 token climbing the ranks in the next bull market. Bitget researchers say this expansion is set to revolutionize the crypto world, offering unprecedented growth opportunities.
Bitget’s Ordinal and Bitcoin Predictions
Bitget‘s latest report paints an optimistic picture for the Bitcoin blockchain, predicting a robust expansion of the network’s ecosystem. The report predicts that the surge in demand is expected to catapult the price of BTC beyond its previous highs, potentially reaching the landmark figure of $100,000 in the upcoming bull market. The report states:
If the Bitcoin ecosystem continues to expand, the surge in demand for bitcoin may drive the price of BTC to surpass its previous highs in the upcoming bull market, potentially reaching as high as $100,000.
The study further emphasizes ORDI’s significant role within the Bitcoin ecosystem. As the leading BRC20 coin, ORDI is forecasted to ascend into the top 30 by market cap in the next bull market, according to Bitget’s analysts.
Highlighting the dynamic nature of the ecosystem, Bitget’s research forecasts a massive growth trajectory for the Bitcoin non-fungible token (NFT) market. Bitget believes the sector is anticipated to expand by over 100x in the future, demonstrating the immense potential of NFTs on the Bitcoin platform.
The crypto ecosystem prediction report identifies significant opportunities for 100x coins built on top of the Bitcoin ecosystem, particularly on protocols like Ordinals, Atomicals, or Taproot Assets. Bitget researchers opine that these platforms are poised to be at the forefront of the next bull market, offering lucrative opportunities for investors and developers alike.
In the short term, Bitget’s report notes that the Bitcoin ecosystem will maintain a “one project, one protocol solution” status, fostering the development of a variety of Bitcoin protocols. In the long run, the emergence of a BTC virtual machine within the ecosystem is anticipated, which will unify developer compile environments, according to Bitget’s vision.
Reflecting on the current market, Bitget points out the significant increase in bitcoin’s (BTC) price from US$16,500 to US$42,000 at the beginning of 2023. This growth is mirrored in the BRC20 sector under the Ordinals protocol, with the market size of BRC-20 tokens surpassing US$4 billion, a nearly 40x increase since March.
The report also delves into the latest technological innovations within the Bitcoin ecosystem, focusing on asset issuance protocols like Ordinals, Atomicals, Runes, BitVM and PIPE, and scaling solutions such as the Lightning Network (LN), RSK, Stacks, and RGB. Bitget analysts think these developments are crucial for enhancing the Bitcoin blockchain’s functionality and efficiency.
What do you think about Bitget’s prediction report for 2024? Share your thoughts and opinions about this subject in the comments section below.
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