PANews
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Canary Capital CEO: Bitcoin will reach $140,000 to $150,000 this year, Ethereum will not reach a new high
PANews reported on August 17 that Steven McClurg, CEO of Canary Capital, stated in an interview with CNBC: 'Bitcoin has more than a 50% chance of rising to the range of $140,000 to $150,000 this year, after which a new bear market will arrive.' Steven McClurg attributed this rise to the growing demand for ETFs and the expansion of institutional buyer groups, including sovereign wealth funds, pensions, and corporate bonds.
But Steven McClurg does not believe that Ethereum's recent surge will continue. 'I am not a loyal fan of Ethereum, simply because it is an old technology. There are many other protocols that are faster, have lower transaction costs, and are fundamentally more secure. Despite Ethereum's excellent performance over the past five years or so, new blockchains like Solana and Sui have surpassed it. Ethereum is expected to gradually decline and will not reach new historical highs.'
But Steven McClurg does not believe that Ethereum's recent surge will continue. 'I am not a loyal fan of Ethereum, simply because it is an old technology. There are many other protocols that are faster, have lower transaction costs, and are fundamentally more secure. Despite Ethereum's excellent performance over the past five years or so, new blockchains like Solana and Sui have surpassed it. Ethereum is expected to gradually decline and will not reach new historical highs.'
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