30s Summary
Crypto enthusiasts are predicting the crypto boom will last until 2025, based on a survey conducted by Web3 investment firm, MV Global. Most predict Bitcoin could reach between $100,000 and $150,000, Solana beyond $600, and Ethereum between $3,000 and $7,000. Donald Trump’s win as US President boosted the crypto market, pushing Bitcoin to a record $85,000 and Ethereum to $3,300. Solana broke a seven-month high after a 22.5% surge earlier in November but is still below its 2021 peak.
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Cryptocurrency enthusiasts expect the ongoing crypto bonanza to last until 2025, peaking around the second part of that year, according to Web3 investment company, MV Global. They based this prediction on a survey of 77 big crypto players including wealthy individuals, venture firms, and hedge funds. Nearly half of these respondents think the market will reach its highest point in the latter part of 2025.
As per Tom Dunleavy, a top dog at MV Global, this perspective is pretty common, and chances are it’s already factored into current market prices.
The survey also reveals predictions for bitcoin, with guesses that a single bitcoin could be worth between $100,000 and $150,000. Solana is another hot favorite, with roughly 30% of the folks surveyed expecting it could go beyond $600 before the current market phase wraps up.
“Solana’s a safe bet for nearly everyone we talked to,” Dunleavy said.
As for Ethereum, opinions were a mixed bag. Some foresee only small increases, with Ethereum’s value capped between $3000 and $5000, while others think Ethereum could soar to $7000 before the current market cycle’s end.
According to Dunleavy, “being optimistic about Ethereum is now quite the contrary stand.”
The election of Donald Trump as President of the United States added a big boost to the crypto market. Many think his win will positively impact the industry, as evidenced by Bitcoin’s value zooming to $76,500 the day after the elections. The current spot price is now at an all-time high, nearing the $85,000 mark.
On November 11th, Bitcoin’s market value swelled to a whopping $1.62 trillion, pushing the global crypto market cap to $2.71 trillion.
Ethereum, on the other hand, saw a 10% surge following Trump’s election, and currently stands around $3,300, still below 2021’s peak of over $4,700.
The Solana token (SOL) jumped 22.5% between November 5th and 7th, reaching its highest in seven months. Currently priced at around $220 per token, SOL is still under 2021’s peak value of $260.