Bitcoin could top $80,000 while stablecoins collectively overtake Visa in transaction volumes next year, according to predictions from crypto investment firm Bitwise. The projections outline an extremely bullish 2024.

In a Twitter thread, senior research analyst Ryan Rasmussen called stablecoins "one of crypto's killer apps" after exponential growth has market caps nearing $140 billion. He expects further explosion with trading eclipsing Visa's $9 trillion in payment settlements.

The forecast tracks mounting evidence of surging stablecoin adoption for internet-based dollar transfers. Bitwise also sees Bitcoin breaching new highs above $80,000 — potentially just the beginning per some models eyeing $250,000 — as catalysts like ETF launches and the 2024 halving ignite the next feverish rally.

Beyond crypto-native price action, the firm bets on a doubling of Ethereum revenues to $5 billion as network efficiencies unlock greater utility. It similarly projects breakout 100% Coinbase growth beating Wall Street estimates as the exchange benefits from broad industry momentum.

Of course variables abound, and unforeseen shocks could upend narratives. But Bitwise makes the case for blistering stablecoin and Bitcoin advances over the next twelve months as market forces align following a painful down cycle. If even partially accurate, 2024 shapes up as an inflection point with year-defining implications.