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Bitget’s 2024 Bitcoin report: ORDI’s high potential and Lightning Network’s crucial role

Bitget's 2024 Bitcoin report: ORDI's high potential and Lightning Network's crucial role

Victoria, Seychelles, December 15th, 2023, Chainwire

Bitget Research, the research arm of Bitget, the world’s leading cryptocurrency exchange and Web3 company, has released a research analysis delving into macro and micro trends within the Bitcoin ecosystem. This report offers insights for investors and outlines potential future technological and financial trends for Bitcoin and its assets within the network for 2024.

Given the future macroeconomic environment and market conditions, the Bitcoin ecosystem presents a promising outlook. Not only do popular cryptocurrencies like BTC and ORDI have significant potential for appreciation, but there will also be new exciting opportunities for coins within the Bitcoin ecosystem. While the trading volume in the Bitcoin NFT market has surged, its current scale remains relatively small, indicating the anticipated potential for growth in the future. Simultaneously, the Lightning Network is expected to serve as the primary technological support for the broader adoption of Bitcoin payments in the short to medium term.

Combining the above analyses, Ryan Lee, Chief Analyst at Bitget Research makes some major predictions of future trends in the Bitcoin ecosystem. He predicts,

“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. As the leading coin of the Bitcoin ecosystem, ORDI will rank in the top 30 by market cap in the next bull market. “

“Protocols like Bitcoin, Ordinal, Atomical, and Taproot have significant potential for growth, with new opportunities arising for 100x coins and NFTs within these ecosystems. And in the short term, the Bitcoin ecosystem will retain the ‘one project, one protocol solution’ status, fostering a variety of Bitcoin protocols. In the long run, a BTC virtual machine will emerge within the ecosystem, unifying developer compile environments. On the other hand, the Lightning Network will be the largest technical foundation supporting the continued adoption of BTC payments, with more assets to be issued on it.” He continues.

Key Takeaways:

  • ORDI: Currently, ORDI’s market cap stands around $400 million, suggesting a high potential when compared to the $4.9 billion market cap of SHIB, one of the leading ETH…

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