Bitget Research Institute: The Bitcoin ecosystem is an important engine for the next bull market, and the wealth effect is not limited to the BRC20 series

ChainCatcher news, Bitget Research Institute released a deep analysis report on the Bitcoin ecosystem, exploring the macro and micro trends within the Bitcoin ecosystem. The report points out that with the market expectation consensus of the BTC spot ETF approval, the upcoming BTC halving event, and the triple benefits of the anticipated Federal Reserve interest rate cuts, a large influx of funds continues to pour into the Bitcoin ecosystem, creating a sustained wealth effect. Although the wealth effect began with the BRC20 of the Ordinals protocol, it will not be limited to this niche but will expand comprehensively to other innovative protocols and sectors. The continuous influx of wealth will further attract sustained capital inflow, making the Bitcoin ecosystem likely to become the new engine for the next bull market.

The report also notes that, in addition to innovative asset issuance protocols like Ordinals and Atomicals, another current focus of the Bitcoin ecosystem is scaling solutions, including Lightning, Rootstock, Stacks, and RBG, which are thriving and will help enhance Bitcoin's performance to build a more prosperous ecosystem.

Bitget Research Institute believes that the development of the Bitcoin ecosystem will also impact different participants in the industry. To this end, it analyzes the opportunities and challenges faced by various market participants from multiple perspectives, including individual investors, institutional investors, exchanges, miners, and project teams, and shares six major predictions for the Bitcoin ecosystem in 2024 at the end.