Altcoins
Crypto Market Prediction: Bitcoin, Ethereum and Altcoins Poised for 3x to 5x Rally Over the Next 12 Months
The price of Bitcoin (BTC) rose above $71,000 again on Wednesday, fueled by increased demand from institutional investors. On Tuesday, the Thai SEC approved the first spot Bitcoin ETF as the Australian market welcomed a similar product. In the United States, Fidelity Investments’ FBTC continued to lead cash inflows with approximately $378 million and BlackRock’s IBIT with approximately $274 million.
Therefore, the altcoin industry has gained further bullish momentum. According to the latest crypto oracles, Binance’s native coin BNB has surpassed $700 for the first time. Floki Inu (FLOKI) led the meme coin industry with growth of two percentage points over the past 24 hours, following notable investment from DWF Companies.
Cryptocurrency price targets for the next twelve months
According to a popular crypto trader, Ash Crypto, with over 1.1 million subscribers on the X platform, the next twelve months will be crazy for the entire digital asset industry. The crypto analyst set Bitcoin’s first price target at around $100,000, a major psychological level.
The crypto analyst believes that Ethereum price will reach $10,000 and above in the next twelve months. Ash Crypto indicated that investors should embrace the idea that the altcoin industry will increase 3-5 times in a single day. Ultimately, the crypto analyst pointed out that meme coins would reach billions in value.
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The total market capitalization of cryptocurrencies is gradually eating away at global investment products, led by stock indices and precious metals. On Tuesday, the Indian stock market recorded its worst performance in more than two years, with more than $400 billion wiped out in a single day. With the upcoming general election in the United States, the cryptocurrency sector is well-positioned to attract more investors fleeing market uncertainty.