Bitcoin (BTC) could eventually reach $100,000 and this is what several analysts are saying. Although it might not happen in the near future, it is certainly a possibility for the future. $100k Bitcoin is one of the ultimate price goals that many enthusiasts and investors have in mind. But it is possible for BTC to reach these price levels?
The cryptocurrency analyst CryptoKaleo has released a new price prediction for both Bitcoin and Ethereum (ETH). At the same time, he talked about altcoins and how institutions and governments could embrace Bitcoin and other virtual currencies.
At the same time, altcoins could continue growing in the second half of this year. If projects such as Cardano (ADA) or Binance (BNB) move forward in the market, they could definitely change the ways in which we interact with crypto protocols and financial solutions. AltSignals could help you be part of this market by following their trading signals.
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CryptoKaleo is a recognized analyst on Crypto Twitter. He has almost 330k followers and he has been publishing information about virtual currencies in the last years. In a recently released tweet, he has shared his predictions for the second half of 2021 and how the second semester could be very positive for Bitcoin and other virtual currencies.
About Bitcoin, he stated that the most popular cryptocurrency could reach $100,000. Although he didn’t explicitly said $100,000 he mentioned a “six-figure price discovery.” That means that the virtual currency could eventually reach higher prices than $100,000.
Bitcoin has been adopted for the first time by a country. El Salvador has made Bitcoin legal tender and individuals are now able to send and receive BTC without any problem. Additionally, retailers in the country must also accept BTC as a means of payment if people decide to do so.
About Ethereum, he mentioned that the second-largest virtual currency could break above $10,000 for the first time in history. Let’s not forget that ETH surpassed $5,400 earlier this year and this was already a success for Ethereum.
Ethereum continues expanding. The community is working in order to launch ETH 2.0, which could make it possible for Ethereum to process a larger number of transactions and also reduce the fees paid by users.
Regarding other altcoins, 2021 could be very positive for many other coins, as he said. There could be a new major alt season before the year-end. This could happen in the near future or before winter. This would also depend on market trends. DeFi was one of those trends in early 2021 and it could continue also in the second half of this year.
The first half of 2021 has been very positive for Bitcoin and cryptocurrencies. Indeed, the first five months have been the best months for virtual currencies in several years. Bitcoin was able to hit $63,000 per coin and Ethereum surpassed $5,400 for the first time in history.
The first part of the year was also marked by the expansion of the Binance Smart Chain (BSC) network and projects such as PancakeSwap (CAKE) or ApeSwap (BANANA). DeFi coins have been very popular at the beginning of the year. However, things could also be different in the next six months of this year.
More countries could start adopting cryptocurrencies such as Bitcoin. El Salvador has been the first example, but there could be many other examples in the future. Some countries are also discussing the possibility to make Bitcoin legal tender, or at least make it easier for individuals to get access to the crypto market.
The first part of this year has also been marked by companies acquiring Bitcoin. Although many of them have already sold part of their BTC holdings, the second part of the year could see more firms getting access to BTC coins.
Nonetheless, there could be more institutional FUD. This is very common in institutions that are against virtual currencies and that do not want to have Bitcoin as a competitor. Banks and other financial institutions realize that there has been a massive expansion of digital assets and new technologies that are threatening their industries.
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