Veteran Warns: Bitcoin Will Enter a Bear Market Next Year
Canary Capital CEO predicts Bitcoin could rise to $150,000 this cycle before entering a bear market next year, primarily due to concerns about the macroeconomic outlook.
Steven McClurg, CEO of crypto asset management firm Canary Capital, said last week that Bitcoin could rise to as high as $150,000 in this bull cycle before entering a downtrend.
His main reason for this judgment is his unfavorable view of the macroeconomic outlook. Therefore, not only will Bitcoin face another bear market next year, but a broad economic bear market is also imminent.
Bitcoin is currently hovering around $115,800, about 30% away from the predicted price of $150,000. McClurg believes there is a greater than 50% chance that Bitcoin's price will rise to the $140,000 to $150,000 range this year.
He also attributed the recent rise in Bitcoin prices mainly to the inflow of spot Bitcoin ETF funds and the actions of fund management companies to purchase digital currencies. Not only have small institutions joined the wave of cryptocurrency purchases, but large sovereign wealth funds are also following suit, which is the real driver of price increases.
In addition, he warned that Ethereum is an outdated network. Although Ethereum has been one of the best-performing cryptocurrencies in recent weeks, new blockchains such as Solana and Sui have already surpassed it technically. Therefore, he expects Ethereum to gradually decline, and its price may not reach new highs.
Contrary View
McClurg's views on Bitcoin and Ethereum are undoubtedly quite pessimistic in the current environment, and many market participants do not agree with his bear market outlook.
Strategy Executive Chairman Michael Saylor predicted in June that as long as Bitcoin's price does not fall to zero, it will rise to $1 million. Bitcoin has already achieved a breakthrough, and the 'winter' will not come again.
Bitwise Chief Investment Officer Matt Hougan also believes that the bull market for digital currencies will not slow down anytime soon. He insists that 2026 will be another year of continued gains, and this upward trend will continue for several years. #加密市场回调 #Strategy增持比特币 #山寨季何时到来？ #美联储取消创新活动监管计划 #中国投资者涌向印尼 $BTC $ETH $BNB
