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Fundstrat Global Advisors’ latest “Weekly Cryptocurrency Briefing” and David Grider, the company’s chief digital asset strategist, believe that the target Bitcoin price of $100,000 per coin is still “intact.” In addition, Fundstrat believes that the price of Ethereum will reach the goal of $10,000, and the entire cryptocurrency economy “is expected to reach $5 trillion.”
Fundstrat, an independent financial research company, is very optimistic about the current trend of the cryptocurrency market in the future. Fundstrat’s digital asset strategist David Grider explained in the company’s weekly briefing on digital assets that Bitcoin (BTC) has rebounded after “last week’s healthy cooling-off period.”
Grider’s report further stated that “the macro background is still loose [and the] The bull market remains unchanged. The Fundstrat briefing emphasized:
We believe that the bull market is still intact and we maintain our Bitcoin price target of $100,000.
Fundstrat mentioned that one of the reasons for the easing of the bullish view is that the Fed met this week and decided to keep its loose monetary policy unchanged. Grider said: “The Fed’s recent plan to maintain loose policy guidance should support risky assets such as cryptocurrencies.”
The digital asset strategist said that the company said it has predicted that a large number of companies will enter the cryptocurrency space in January, and Fundstrat claims this has been achieved in most cases. Grider noted that the company believes that this will “occur more and will become a new source of funding for the crypto economy.”
After the report discussed Bitcoin (BTC) and companies entering the cryptocurrency industry, Fundstrat’s Grider detailed the company’s maintaining a price target of $10,500 per ether and mentioned that the crypto asset “continues to outperform” BTC”. The digital economy of Ethereum gave Fundstrat executives a bullish outlook, and the report stated that the ETH network “is undergoing a lot of development.”
The Fundstrat report emphasizes: “The cost of these applications is three times that of the Ethereum network, while the market value of Bitcoin is three times the market value. Ethereum and other applications are driving the development of new financial applications, which have been Significant growth in scale.”
Fundstrat is not the only one predicting that the price of Ethereum (ETH) can reach $10,000 per token. Popular supporters and investors of digital assets, Spencer Noon, Also discussed that Ethereum will explode to the $10,000 area this week.noon Tweet A list of “10 signs that ETH is about to reach $10,000”.
Noon added: “Ethereum dwarfs each blockchain in terms of the fees it pays. The current run rate is close to $7 billion, which confirms the huge demand for Ethereum’s block space.” The Twitter thread continued:
The daily settlement value of Ethereum is $30.5 billion, far exceeding the value of Bitcoin and all other blockchains. To figure this out, the value of Paypal’s daily settlement is about 2.5 billion U.S. dollars. Ethereum has 625,000 active addresses every day (MA for 90 days). This number is still rising, and it is now in the ATH position.
Noon’s Twitter post went on to list ETH’s recent advantages over BTC. Bitcoin.com News recently reported how Ethereum’s market valuation cannibalize BTC’s dominance. In fact, in recent days, the dominance of Ethereum has jumped to the 15% area, but today it is 14.6%.
At the beginning of 2021, BTC’s dominance is in the range of 60%, and this year even reached 70%. However, BTC’s dominance due in part to the market value of ETH and other crypto assets has been eating away Bitcoin’s lunch.
What do you think of the latest introduction of the financial research company Fundstrat? Do you think that the price of Ethereum will reach $10,000 per unit? Let us know your thoughts on this topic in the comments section below.
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