After the approval and introduction of the ProShares Bitcoin (BTC) ETF, which opens another gateway for investors around cryptocurrencies, Analysts practically agree that the next price target for BTC is to hit $ 100,000.
To the Ray Nasser, Arthur Mining CEO, Bitcoin ETF trading on the NYSE is paving the way for a better quality ETF, and reaching the $ 100,000 mark will still be possible in 2021.
“Bitcoin has just beaten the Swiss franc in terms of market capitalization. If it hits $ 69,000 it will outperform silver, and I think there is a chance that BTC will hit $ 100,000 or more by the end of the year. It is optimistic that the USD 135,000 ”he concluded.
This is the same opinion from Lake Tasso, Cryptocurrency specialist and founder of Financial Move. For him, the market is now heading for $ 100,000.
“The most anticipated ETF in the market is Grayscale, which will convert its $ 19 billion into an ETF. With this breakout and a favorable scenario for Bitcoin, we will move the market towards $ 100,000, ”he says.
Ethereum and Polkadotincrease in cryptocurrencies in September now points to 6 cryptoassets to watch in November” width=”832″ height=”451″>Analyst who was correct with the 40% increase in cryptocurrencies in September now points to 6 cryptoassets to watch in November
However, as far as Bitcoin’s next steps are safe, Analysts differ in which cryptocurrency will follow in BTC’s footsteps and soar more than 100% to new highs.
For Lago, Ethereum (ETH) is a strong candidate as it has already shown that its price is solid and can keep up with Bitcoin’s rallies.
“Ethereum also followed the move, trading at $ 4,129 at the time and has its all-time high (based on the closing price of the daily chart) at $ 4,200 I think that can reach the region of USD 6,000 and then USD 8,000”.
The analyst recalls that ETH went through EIP-1559 and London, the updates of which reduce the supply of the currency and have not yet been reflected in the price increase. Hence the fundamentals are strong.
In addition, for him is another cryptocurrency with high potential Polkadot (DOT) due to its unique property of parachets.
“DOT, which is going through Parachains auctions, has its favorable curve to break historical high, which is in the range of $ 48. In general, the cryptocurrency market is extremely bullish and very favorable for another positive wave, ”he said.
6 cryptocurrencies to buy
As Tasso, analyst and moderator at Altcoin Daily, Austin Arnold points out that cryptocurrencies linked to smart contracts have the greatest upside potential in this new cycle.
Arnold got it right back in August this year when released a review stating the purchase of six cryptocurrencies for the month of September. Since then, its figures have risen almost as much as Bitcoin over the reporting period.
While BTC is up 54%, The altcoins reported by the analyst rose to 49% and none of them were in the red, with Vocational Education up 49%, Tezos 44%, ETH 49%, Atom 12% and ADA 8%.
Now the analyst has published a new list of his nominations and it has to Polygon (MATIC) firstly, which, in his opinion, is gaining momentum after signing an alliance with DraftKings.
Arnold shares a statement from DraftKings President of Global Products and Technology, Paul Libermann, explains how the company positions itself to grow with Polygon.
“Although the DraftKings market is still in its infancy, we are optimistic that blockchain, NFT, cryptocurrencies and more will be showcased alongside Polygon and new innovations for digital collectibles as we prepare for Web 3.0.”
Polkadot and Vechain
After Matic, Arnold stands out, as does Tasso Lago, Polkadot. To justify your nomination, please note a Tweet Latest news from DOT founder Gavin Wood, who explains that close to 19 million DOT tokens are currently stored in the DOT treasury to fund community projects.
If a DOT is not used, it will burn out. Currently, the Polkadot Treasury burns 239,988 tokens every month. after Gavin Wood.
• The DOT token is becoming increasingly scarce when it is burned or used. We recently saw an increase in the price of DOT. This could be related to some interesting future developments, such as the upcoming launch of Parachain and Slot auctions; these parachain auctions will also take DOT off the market.
And with the first 11 Parachains auctions coming to Polkadot next month, along with 100 or more slots available, this could bolster Polkadot’s presence in the crypto industry and cement the growing status of the cryptocurrency industry. .
The third coin Arnold looks at is againÂ VeChain (VET). The trader notes that VeChain recently partnered with major logistics company DHL for the corporate issuance of non-fungible tokens, NFT.
“This collaboration with DHL China is one of the first things customers can experiment with customizing the DHL mascot and then embossing it as an NFT in the VeChainThor blockchain solution.”
Cardano, Link and Ethereum
Next up is the smart contracts platforms Cardano (ADA). Arnold points this out Cardano appears to be gaining traction after partnering with satellite television provider DISH and announcing that the network has received $ 100 million to invest in Cardano-focused projects in Africa.
The analyst also states Chain link (LINK), notes that despite the token’s poor performance in recent months, He believes LINK still has great upside potential as partnerships continue to grow month by month and 84 integrations were made in September alone.
“I understand, but in my opinion Chainlink still has a lot of room for growth. Think about it: Chainlink already has a ton of great exclusive partnerships with big companies, Google and Oracle, to name just two, already over 75 different blockchains. use Chainlink technology and are used by many data sources including USD currency pairs [dÃ³lar estadounidense]. It’s a solid foundation.
Finally, the analyst is also enthusiastic about the leading smart contracts platform, Ethereum, which is said to be preparing for a massive 2022.
He notes that the developers of Ethereum has announced that the network will switch to Ethereum 2.0 from May to June 2022. making the blockchain a proof-of-stake protocol.
“The code should be ready by February 2022. The merger with the mainnet, for ETH 2.0, in June 2022 at the earliest. Next year will be known as the ETH year. There it is. DeFi (decentralized finance), that’s where the NFTs are .
Disclaimer of liability: This is not an investment recommendation. Every investment must be accompanied by an in-depth study and investors must take their own risk in making their decision.