The CEO of the cryptocurrency company Canary Capital predicts that Bitcoin could rise to $150,000 in this cycle, then enter a bear market next year, mainly due to concerns about the macroeconomic outlook.
The CEO of the cryptocurrency asset management company Canary Capital, Steven McClurg, stated last week that Bitcoin could potentially rise to $150,000 during this upward cycle, after which it would enter a downward range. The main reason for his judgment is his pessimism about the macroeconomic outlook. Therefore, not only will Bitcoin face another bear market next year, but a broader economic bear market is also imminent. Bitcoin is currently hovering around $115,800, leaving about a 30% upside potential to the predicted price of $150,000. McClurg believes the probability of Bitcoin's price reaching the range of $140,000 to $150,000 this year exceeds 50%. He attributes the recent rise in Bitcoin's price mainly to the inflow of funds from spot Bitcoin ETFs and the actions of asset management companies purchasing digital currencies; it's not just small institutions joining the cryptocurrency buying wave, large sovereign wealth funds are also getting involved, which are the real factors driving the price increase. Additionally, he warned that Ethereum is an outdated network; despite being one of the best-performing tokens in recent weeks, newer blockchains like Solana and Sui have technically surpassed it, leading him to expect Ethereum to gradually decline, and its price may not reach new highs again.
1 Contrarian 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 bearish perspective. Michael Saylor, Executive Chairman of Strategy, predicted in June that as long as Bitcoin's price does not drop to zero, it will rise to $1 million. Bitcoin has already broken through, and the 'winter' will not return. Matt Hougan, Chief Investment Officer of Bitwise, also believes that the bull market for digital currencies will not slow down anytime soon. He insists that 2026 will be a year of continued growth, and this upward trend will last for several years. Greg Magadini, Director of Derivatives at Amberdata, pointed out that although some people call Ethereum outdated technology, it has a developer ecosystem, much like the iPhone platform, allowing developers to build applications directly on its infrastructure. These network effects will only continue to accumulate. Based on this, Magadini expects Ethereum's price to continue to follow Bitcoin's rise, likely reaching the range of $8,000 to $10,000. However, he also agrees that Bitcoin is likely to break through $150,000 this year, which is related to hedging against inflation risk and changes in investor risk appetite. He stated that Bitcoin now resembles a mix of digital gold and risk assets, being simultaneously driven by two sentiments in the context of a rising stock market and the Fed facing pressure to cut interest rates.$BTC #美联储降息预期 #特朗普罢免美联储理事库克 #美联储降息预期
