Fundstrat Global Advisors’ latest “Weekly Crypto Briefing” and the company’s leading digital asset strategist, David Grider, believe that a bitcoin price of $ 100,000 per. Coin is still “intact”. In addition, Fundstrat believes the price of ethereum will reach a $ 10,000 target, while the entire crypto-economy is “on pace to hit $ 5 trillion.”
Fundstrat maintains $ 100,000 target for Bitcoin
The independent financial research firm Fundstrat has a very bullish view of the current trajectory of cryptocurrency markets in the future. Fundstrat’s digital asset strategist, David Grider, explains in the company’s weekly briefing, which covers digital assets, that bitcoin (BTC) has returned after a “healthy cooling-off period last week.”
Grider’s report further states that “the macro background is accommodating [and the] the bull market remains intact. The Fundstrat briefing emphasizes:
We believe the bull market remains intact and we maintain our $ 100,000 Bitcoin price target.
One of the compelling reasons for the bullish view that Fundstrat mentions is that the Federal Reserve met this week and decided to keep its monetary easing policies intact. “The Fed’s recent guidance that it plans to remain accommodative should be supportive of risky assets such as crypto,” Grider noted.
The digital assets strategist said the company said it had predicted a shot of companies entering the cryptocurrency back in January, and Fundstrat claims this has mostly come to fruition. Grider noted that the company believes this “will happen more and will be a new source of capital flows in the crypto-economy.”
‘Ethereum continues to surpass Bitcoin’
Following the report, bitcoin (BTC) and companies entering the crypto industry discussed, Fundstrats Grider detailed that the company maintains a price target of $ 10.5k per share. Ether and mentioned that the cryptocurrency “continues to surpass BTC.” Ethereum’s digital economy gives Fundstrat executives a bullish perspective, and the report notes “large amounts of development happening” on the ETH network.
“These applications generate ~ 3x the fees for the Ethereum network vs. Bitcoin, which trades at ~ 3x the market value – Ethereum and others enable new financial applications that have grown significantly in scale over the past year,” the Fundstrat report highlights.
Ethereum towers over competitors
Fundstrat are not the only ones predicting ethereum (ETH) prices can make it $ 10,000 per share. Coin. The popular digital asset advocate and investor, Spencer Noon, also discussed ether blasting to the $ 10,000 region this week. Dinner tweeted about a list of “10 signs that ETH is well on its way to $ 10,000.”
Ethereum dwarfs every blockchain in terms of paid fees with a current running rate of almost $ 7 billion. – which confirms massive demand for ETH block space, ”added Noon. The Twitter thread continued:
Ethereum settles DKK 30.5 billion Value of dollars per. Today, far more than Bitcoin and any other blockchain – to put this in context, Paypal settles ~ 2.5 billion. $ Daily. Ethereum has 625,000 daily active addresses (90-day MA) – a figure that continues to climb and now sits comfortably at ATHs.
Dinner’s Twitter thread continues to list the benefits ETH has had over BTC in recent times. Bitcoin.com News recently reported on how ethereum’s market value has eaten up BTC dominance. In fact, in recent days, ETH dominance has jumped over the 15th percentile zone, but today it is 14.6%.
In early 2021, BTC dominance was in the 60th percentile range and even bumped up to 70% this year. However, BTC dominance, partly due to ETH’s market value, but also a number of other cryptocurrencies, has nibbled away at the lunch of bitcoin.
What do you think of the financial research company Fundstrat’s latest briefing? Do you think ethereum will reach $ 10,000 per year? Unit? Tell us what you think about this topic in the comments section below.
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