Analysts predict that the cryptocurrency bull market will be more parabolic than ever in 2021.
Kyle Chassé, founder of Master Ventures, shares why he believes he will earn $100,000 in BTC and $7,000 in ETH this year in a video about Crypto Banter on January 19th.
Chassé predicts that Bitcoin will reach $100,000 this year. However, these prices will not be visible until around May when the rebound begins after the halving. In the meantime, analysts suggest a decline of 15% to 20% is likely. To back up his prediction, Chassé points to Bitcoin (BTC) charts to highlight that massive buying pressure from institutions is much greater than what the market has seen so far.
Analysts say that unlike retail buyers, institutions are not interested in the price of BTC, but rather the number of assets under management (AUM) since ETF issuers charge management fees to make money. Moreover, with all the money invested in legal fees, effort, and commissions, institutions expect some level of interest in long-term plays, which is a bullish sign for the market.
Since Ethereum is not in the institutional space, Chassé predicts that Ethereum (ETH) will be the next play as there is no room for ETH inflows in ETFs yet. It is the only cryptocurrency to receive institutional approval this year. Based on this, the analyst predicts an ETH season in which the price is likely to reach between $6,000 and $7,000.
Chassé also sees Solana as a blue chip and predicts that SOL will outperform ETH this year and reach the $500-$1,000 range at some point. He attributes this to the institutional interest of major corporations such as Franklin Templeton, an American multinational holding company.
When referring to the 2021 bull market throughout his predictions, the cycle was previously driven by the Bitcoin price of $69,000 in November 2021, with increased growth evident during the COVID-19 pandemic and an appetite for digital payments in the market. It is worth noting that demand has increased. solution. Following this run, the market lost $2 trillion in value over the next year and is only now waiting to recover.