Fundstrat Global Advisors’ latest Weekly Crypto Briefing and the company’s leading digital asset strategist, David Grider, believes the $ 100,000 bitcoin target price for a coin is still “intact.” Moreover, Fundstrat believes that the price of ethereum will reach the $ 10,000 target, while the entire crypto-economy is “on the verge of reaching $ 5 trillion.”
Fundstrat maintains the $ 100,000 target for bitcoin
The independent financial research firm Fundstrat has many views on the current trajectory of cryptocurrency markets in the future. David Grider, Fundstrat’s digital assets strategist, explained in the company’s weekly digital assets briefing that bitcoin (BTC) has recovered from a “healthy cooling period last week.”
Grider’s report also says that “the macro remains adaptable [and the] the bull market remains intact. “The Fundstrat briefing emphasizes:
We believe that the bull market remains intact and maintain our $ 100,000 bitcoin target.
One of the reasons for adjusting to the upward view that Fundstrat mentions is that the Federal Reserve came together this week and decided to keep its cash-relief policies intact. “The Fed’s recent guidance that it plans to remain adaptable should support risky assets such as crypto,” Grider said.
The digital asset strategist said the company said it had anticipated an influx of corporations entering the cryptospace back in January, and Fundstrat said it had for the most part. Grider noted that the company believes this will happen “and will be a new source of capital flows in the crypto economy.”
Ethereum continues to outperform bitcoins
After discussing bitcoin (BTC) and corporations entering the crypto industry, Fundstrat’s Grider clarified in detail that the company maintains a price target of 10.5 thousand dollars for ether and mentioned that the crypto asset “continues to exceed BTC” . Ethereum’s digital economy gives Fundstrat executives an upward perspective, and the report notes “a large amount of development is happening” on the ETH network.
“These applications generate ~ 3 times the fees for the Ethereum network compared to Bitcoin, which is traded at ~ 3 times the market capitalization – Ethereum and others allow new financial applications, which have grown significantly in the last year,” said the Fundstrat report.
Ethereum rises above the competition
Fundstrat is not the only one to predict that ethereum (ETH) prices could reach $ 10,000 per coin. Popular proponent and investor in digital assets, Spencer Newn, also discussed blowing up ether to the $ 10,000 area this week. At noon, a tweet for a list of “10 characters ETH is about to reach 10 thousand dollars.”
“Ethereum is reducing each blockchain in terms of fees paid, with a current execution rate of nearly $ 7 billion – confirming the huge demand for ETH block space,” added Noon. The Twitter thread continued:
Ethereum settles $ 30.5 billion a day, much more than Bitcoin and any other blockchain – to put this in context, Paypal settles ~ $ 2.5 billion a day. Ethereum has 625,000 active daily addresses (90-day MA) – a figure that continues to climb and now sits comfortably in ATH.
The Twitter thread at noon continues to list the advantages ETH has had over BTC lately. Bitcoin.com News recently reported on how ethereum’s market valuation is eating away at BTC’s dominance. In fact, in recent days, ETH’s dominance has jumped the 15 percentile range, but today it is 14.6 percent.
At the beginning of 2021, the dominance of BTC was in the range of 60 percentiles and even reached 70% this year. However, the dominance of BTC, partly due to the market capitalization of ETH, but also a number of other crypto assets, bites into the bitcoin lunch.
What do you think of the recent briefing of the financial research company Fundstrat? Do you think ethereum will reach $ 10,000 per unit? Tell us what you think about this in the comments section below.
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