Following the approval and launch of the ProShares Bitcoin (BTC) ETF, which opens another gateway for investors around cryptocurrencies, analysts have practically reached consensus that the next target for the price of BTC is to hit $ 100,000.
For Ray Nasser, CEO of Arthur Mining, The Bitcoin ETF trading on the NYSE paves the way for a better quality ETF, and that hitting the $ 100,000 mark will still be possible in 2021.
“Bitcoin just surpassed the Swiss franc in terms of market capitalization. When it hits $ 69,000 it will outperform silver, and I think by the end of the year there is a chance that BTC will hit $ 100,000 or, even more optimistically, $ 135,000. ”, He concluded.
This is the same opinion of Tasso Lake, cryptocurrency specialist and founder of Financial Move. For him, the market is now heading towards $ 100,000.
“The most anticipated ETF in the market is the Grayscale, which will convert its $ 19 billion into an ETF. With this breakout and favorable scenario for Bitcoin, we will see the market head towards $ 100,000,” he notes.
Ethereum and Polkadot
However, to the extent that Bitcoin’s next moves are safe, Analysts differ on which cryptocurrency will follow in the footsteps of BTC and rise more than 100% towards new highs.
For Lago, Ethereum (ETH) is a strong candidate, as it has already shown that its price is solid and can keep up with the rallies of Bitcoin.
“Ethereum also followed the movement, at that time it was trading at $ 4,129 and has its all-time high (based on the close of the daily chart) in the region of $ 4,200. Confirming the breakout, it will have a clear path and I think it can reach the region. $ 6,000 and then $ 8,000. “
The analyst recalls that ETH went through EIP-1559 and London, whose updates act to reduce the supply of the coin and have not yet been reflected in the price increase, therefore the fundamentals are strong.
Also, for him, another cryptocurrency with high potential is Polkadot (DOT) due to its unique feature of parachains.
“DOT that will go through auctions of parachains and has its favorable graph towards the break of the all-time high, which is in the region of USD 48. In general, the cryptocurrency market is extremely bullish and very favorable for another positive wave,” he says .
6 cryptocurrencies to buy
Thus, as Tasso, analyst and presenter for Altcoin Daily, Austin Arnold, indicates that cryptocurrencies linked to smart contracts are those with the greatest upward potential in this new cycle.
Arnold got it right in August of this year when published a review indicating the purchase of six cryptocurrencies for the month of September. Since then, its indications have risen almost as much as Bitcoin in the period.
While BTC was up 54%, the altcoins pointed out by the analyst rose to 49% and none of them were in the red, with VET rising 49%, Tezos 44%, ETH 49%, Atom 12% and ADA 8%.
Now the analyst has published a new list with his nominations and that has to Polygon (MATIC) first, which, according to him, is gaining momentum after signing an alliance with the company DraftKings.
Arnold shares a statement from DraftKings President of Global Products and Technology, Paul Liberman, explaining how the company is positioning itself to grow alongside Polygon.
“Although the DraftKings market is still in its infancy, we are optimistic that blockchain, NFT, cryptocurrencies and more will be featured as we prepare for Web 3.0 alongside Polygon and new innovations for digital collectibles.”
Polkadot and Vechain
After Matic, Arnold stands out, as well as Tasso Lago, Polkadot. To justify his nomination, he points out a Tweet recent news from DOT founder Gavin Wood, who explains that there are currently just under 19 million DOT tokens stored in the DOT treasury to fund community projects.
If no DOT is used, it burns. Currently, the Polkadot treasury is burning 239,988 tokens every month, according to Gavin Wood.
“Burned or used, the DOT token is increasingly scarce. We recently saw an increase in the price of DOT. This could be related to some exciting developments to come, such as the upcoming launch of parachain and slot auctions; these parachain auctions will also take DOT off the market.
And with the first 11 parachain auctions coming to Polkadot next month, along with 100 or more spaces available to fill, this could boost Polkadot’s presence in the cryptocurrency industry and could cement the growing state of the chain system. multiple ”.
The third coin that Arnold looks at is again VeChain (VET). The trader notes that VeChain recently partnered with major logistics company DHL for the corporate issuance of non-fungible tokens, NFT.
“This collaboration with DHL China, one of the first things that will allow customers to experiment is to customize the DHL mascot and then coin it as NFT in the VeChainThor blockchain solution.”
Cardano, Link and Ethereum
Next up, the smart contracts platforms Cardano (ADA). Arnold points out that Cardano appears to be gaining more prominence after partnering with satellite TV provider DISH and announcing that the network has received $ 100 million to invest in Cardano-focused projects in Africa.
The analyst also indicates Chainlink (LINK), noting that despite the token’s poor performance in recent months, believes there is still great upside potential for LINK, as partnerships continue to grow month-on-month, with 84 integrations made in September alone.
“I get it, but in my opinion, Chainlink still has a lot of room for growth. Think about it: Chainlink already has a ton of great exclusive partnerships with big companies, Google and Oracle, to name two, more than 75 different blockchains already use the technology of Chainlink, plus they are used by many data sources, including USD currency pairs. [dólar estadounidense]. It is a solid foundation.
Finally, the analyst is also excited about the leading smart contract platform, Ethereum, which it says is gearing up for a massive 2022.
He notes that the developers of Ethereum have announced that the network plans to transition to Ethereum 2.0 in May-June 2022, which will turn the blockchain into a proof-of-stake protocol.
“The code should be ready by February 2022. The merger with the mainnet, for ETH 2.0, at the earliest in June 2022. Next year will be known as the year of ETH. That’s where DeFi (decentralized finance) is. , that’s where the NFTs are.
Disclaimer of Liability: This is not an investment recommendation. Any investment must be accompanied by an in-depth study and investors must take their own risks when making a decision.
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