Bitwise Predicts Bitcoin May Reach $200,000 Next Year
Asset manager Bitwise has predicted that Bitcoin, Ethereum, and Solana will reach new all-time highs next year. They anticipate that Bitcoin will hit $200,000, Ethereum $7,000, and Solana $750, representing significant increases for these top cryptocurrencies.
In their recent ‘timely insights’ report, Bitwise explained their reasoning for these predictions and highlighted the impact of Bitcoin ETFs on the market.
CIO Matt Hougan and Head Of Research Ryan Rasmussen pointed to record-breaking flows from these funds as a driving factor for Bitcoin’s continued growth.
They also mentioned the potential for a supply shock as more corporations and governments adopt the crypto. While Ethereum has faced setbacks this year and has underperformed compared to other cryptocurrencies, Hougan and Rasmussen expect a shift in the narrative for the coin in 2025.
They believe this will be driven by increased activity on layer 2 blockchains like Base and Starknet. The potential for Spot Ethereum ETFs to attract billions in investment was also cited as a significant factor in their prediction.
