Ethereum

Future

Bitcoin

<ul>
 <li><strong>Bitcoin could reach $100,000 by the end of 2024, as indicated by Bitwise’s Chief Investment Officer, citing several long-term bullish factors.</strong></li>
 <li><strong>Ethereum also anticipated to achieve new all-time highs, with favorable conditions aligning for its growth alongside Bitcoin.</strong></li>
</ul>
<h2 id="prospects-for-bitcoin-in-the-current-financial-climate">Prospects for Bitcoin in the Current Financial Climate</h2>
<p>Matt Hougan, the Chief Investment Officer of Bitwise, a prominent U.S. cryptocurrency management firm, suggested on July 10 that <a href="https://www.ethnews.com/contrasting-investment-patterns-etf-outflows-vs-custodial-wallet-accumulations-in-bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> could effortlessly ascend to $100,000 by the end of this year. Hougan’s optimism stems from his analysis of both short-term challenges and long-term market drivers.</p>
<h2 id="short-term-challenges-vs-long-term-opportunities">Short-Term Challenges vs. Long-Term Opportunities</h2>
<p>Despite the prevailing bear market, fueled by immediate negative news, Hougan highlighted the significant potential for long-term gains. He pointed out that recent government actions, such as the Mt. Gox repayments and <a href="https://www.ethnews.com/bitcoin-etfs-defy-market-trends-drawing-continued-interest-from-investors/" rel="noopener noreferrer nofollow">Bitcoin</a> sales by German and U.S. authorities, have created temporary downward pressure on prices. However, these are seen as short-lived disruptions rather than permanent setbacks.</p>
<p>According to CoinGecko, <a href="https://www.ethnews.com/bitcoins-profitability-woes-miners-face-harsh-realities-as-prices-fluctuate/" rel="noopener noreferrer nofollow">Bitcoin</a>‘s price was about $57,000 at the time of his statement, having experienced a recent upturn due to these very factors. Hougan emphasized that such dips should be viewed as buying opportunities by investors with a long-term perspective.</p>
<h2 id="future-growth-drivers">Future Growth Drivers</h2>
<p>Looking ahead, Hougan elaborated on several bullish factors that could propel <a href="https://www.ethnews.com/german-government-continues-bitcoin-sales-amid-exchange-liquidity-challenges/" rel="noopener noreferrer nofollow">Bitcoin</a> to $100,000:</p>
<ul>
 <li><strong>The upcoming Bitcoin halving in April</strong>: This event historically triggers a rise in Bitcoin’s price due to the reduced rate at which new bitcoins are generated, constricting supply.</li>
 <li><strong>Influx of funds into new financial products</strong>: Such as Bitcoin-Spot ETFs, which have started to see significant investment inflows. The anticipation of a U.S. Ethereum-Spot ETF also bodes well for Ethereum’s price.</li>
</ul>
<h2 id="market-dynamics-and-government-perception">Market Dynamics and Government Perception</h2>
<p>The perception of cryptocurrencies in the U.S. has evolved positively, further <a href="https://www.ethnews.com/bitcoin-spot-etfs-attract-295-million-despite-social-media-pessimism/" rel="noopener noreferrer nofollow">supported by</a> potential policy changes like the Federal Reserve’s expected interest rate cuts in 2024. Such macroeconomic factors are favorable for the cryptocurrency market.</p>
<p>In addition, the growth of stablecoins and advancements in Layer-2 technologies enhance the infrastructure supporting <a href="https://www.ethnews.com/recent-bitcoin-rally-faces-challenge-as-german-government-liquidates-holdings/" rel="noopener noreferrer nofollow">Bitcoin</a> and Ethereum, attracting institutional investments from major firms like BlackRock. This institutional backing is critical for the sustained growth and stability of cryptocurrencies.</p>
<h1 id="conclusion">Conclusion</h1>
<p>In conclusion, while Hougan acknowledged the current selling pressures due to external factors, he remains steadfast in his view that the overarching market conditions and ongoing developments are substantially bullish for <a href="https://www.ethnews.com/cryptoquant-ceo-discusses-bitcoins-resilience-despite-recent-government-seizure-sales/" rel="noopener noreferrer nofollow">Bitcoin</a> and Ethereum. This, he suggests, represents a prime opportunity for strategic investors looking toward the future of finance.</p>
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<p>The post <a href="https://www.ethnews.com/bitcoin-poised-to-hit-100000-by-year-end-ethereum-also-set-for-record-highs/" rel="noopener noreferrer nofollow">Bitcoin Poised to Hit $100,000 by Year-End, Ethereum Also Set for Record Highs</a> appeared first on <a href="https://www.ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.</p>

Bitcoin Poised to Hit $100,000 by Year-End, Ethereum Also Set for Record Highs

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