In a Jan. 19 video on Crypto Banter, Kyle Chassé, the founding father of Grasp Ventures, shares why he believes this 12 months will end in $100,000 BTC and $7,000 ETH.
Chassé predicts that Bitcoin will hit $100,000 this 12 months, though these costs received’t be seen till round Could when the post-halving rally begins. Within the meantime, the analyst means that 15%-20% pullbacks are probably. To again up his prediction, Chassé factors to the Bitcoin (BTC) charts to focus on that huge purchase strain from establishments is way more than the market has seen up till now.
The analyst relates that not like the retail purchaser, establishments don’t care about BTC costs, they care about what number of property they’ve beneath administration (AUM) since ETF issuers cost administration charges to earn their cash. Furthermore, with all the cash invested into authorized charges, efforts, and commissions, establishments count on a sure degree of curiosity in what’s prone to be a long-term play, a bullish signal for the market.
Since Ethereum isn’t within the institutional realm, Chassé additionally predicts Ethereum (ETH) would be the subsequent play since there is no such thing as a place for ETH inflows from ETFs but. It’s the solely different cryptocurrency that has an opportunity of getting institutional approval this 12 months. Primarily based on this the analyst predicts a doable ETH season with costs prone to hit between $6,000 to $7,000.
Chassé additionally shares that he views Solana as a blue chip, predicting that SOL will outperform ETH this 12 months, hitting the $500 to $1,000 vary at some point. He attributes this to institutional curiosity from main gamers like Franklin Templeton, an American multinational holding firm.
In referencing the 2021 bull run all through his predictions, it’s value noting that the cycle was beforehand led by a Bitcoin value of $69,000 in November 2021, with elevated development evident through the COVID-19 pandemic and the market seeing a rising demand for digital fee options. Following this run, the market misplaced $2 trillion in worth within the following 12 months and is barely now taking a look at making a comeback.