The chief executive of crypto exchange Abra believes Bitcoin (BTC) and other top digital assets may hit massive price targets this cycle for one main reason.
Bill Barhydt says that economic policies under US President Donald Trump may inject a huge amount of liquidity into the markets causing crypto assets to soar to astronomical prices.
Among his issued “base case” price targets for digital assets in the current cycle is that Bitcoin may increase by more than 259% from its current value. He also says that Ethereum (ETH) may increase by more than 200% from its current value.
Meanwhile, he says Solana (SOL) may increase by at least 350% from its current value and Sui (SUI) may increase by more than 676% from its current value.
“My base case for for current crypto cycle:
- Bitcoin: $350,000.
- Ethereum: $8,000.
- Solana: $900.
- Sui: $25.
The high end of range is ~2x these values. My model is simple. This administration wants interest rates much lower and they’ll do whatever they have to to achieve that. They also need to refinance over $7 trillion in debt. Tax cuts are coming. All of this equates to a massive liquidity injection whether via QE (quantitative easing) or some other means.”
He believes that market liquidity will start increasing within the first quarter of this year.
Bitcoin is trading for $97,449 at time of writing, up 1.7% in the last 24 hours. Meanwhile, Ethereum is trading for $2,662 at time of writing, up 1.5% on the day.
ETH competitor Solana is trading for $200 at time of writing, up 1.3% in the last 24 hours, while SOL rival Sui is trading for $3.22 at time of writing, up 8.8% on the day.
In April of 2024, Barhydt issued another big crypto outlook when he said the digital asset market capitalization has the potential to increase to $50 trillion within a decade due to the tokenization of real-world assets (RWAs).
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Credit: Source link
