Crypto analyst Jamie Coutts has made a bold prediction that could send the crypto market into a parabolic rally. According to Coutts, the use of artificial intelligence (AI) in the crypto space could lead to exponential growth, pushing the combined market value of smart contract platforms to between $15 trillion and $25 trillion by 2030.
Coutts also suggests that a market bottom is forming for altcoins, with some projects potentially never recovering while others could see new all-time highs later this year. He points to key indicators such as the top 200 equal weight index, which tracks the performance of the top cryptocurrencies relative to Bitcoin, as well as the daily active user count of smart contract platforms and the altseason indicator.
While the altcoin market may still be bouncing around, Coutts remains optimistic about the growth potential, noting that daily active users are up 97% year-to-date. He cautions investors to be wary of “shitcoins” with poor fundamentals, but believes that stronger layer-1s and decentralized applications will see new all-time highs in the second half of 2024.
Investors are advised to stay informed and monitor growth metrics closely as the crypto market continues to evolve. Subscribe to The Daily Hodl for the latest updates and analysis on the crypto market.
