Bitcoin
Crypto Market Forecast: Bitcoin, Ethereum and Altcoins Poised for a 3-5x Rally in 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, Thailand’s 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 in cash inflows with around $378 million and BlackRock’s IBIT with around $274 million.
Consequently, the altcoin industry gained new bullish momentum. According to the latest crypto oracles, Binance’s native currency BNB has surpassed $700 for the first time. Floki Inu (FLOKI) led the meme coin industry with growth of two percentage points in the last 24 hours following notable investment from DWF ventures.
Crypto Price Targets for the Next Twelve Months
According to a popular crypto trader, Ash Crypto, with over 1.1 million followers on platform X, the next twelve months are going to be busy for the entire digital asset industry. The crypto analyst set Bitcoin’s first price target at around $100,000, an important psychological level.
The crypto analyst believes that the price of Ethereum will reach $10K or more in the next twelve months. Ash Crypto indicated that investors should embrace the idea that the altcoin industry will pump 3 to 5 times in a single day. Ultimately, the crypto analyst highlighted that meme coins will reach billions in valuation.
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The total cryptocurrency market capitalization is gradually eating into 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 destroyed in a single day. With the upcoming general election in the United States, the cryptocurrency industry is well positioned to attract more investors escaping market uncertainty.