Traders count on cryptocurrency’s bull run to proceed into 2025 and peak within the second half of the yr, MV International, a Web3 investing agency, advised Cointelegraph on Nov. 11.
Almost half of buyers anticipate a market high within the second half of 2025, MV International mentioned, citing a survey of 77 massive cryptocurrency buyers, together with enterprise companies, hedge funds and high-net-worth people.
“This appears to be a extremely popular opinion and, due to this fact, very doubtless priced into markets,” famous Tom Dunleavy, a managing accomplice at MV International.
Flows by belongings (in thousands and thousands of US {dollars}). Supply: CoinShares
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Bitcoin (BTC) is predicted to high someplace between $100,000 and $150,000 per coin, MV International mentioned.
Traders are particularly bullish on Solana (SOL), with 30% predicting a peak of greater than $600 earlier than the top of the cycle, in line with the survey.
“Solana is a consensus lengthy amongst virtually each allocator we spoke to,” Dunleavy mentioned.
Sentiment on Ether (ETH) was blended. One-third count on solely modest positive factors, with ETH topping between $3,000 and $5,000. One other third sees ETH hitting as much as $7,000 earlier than the top of the market cycle, in line with the survey.
“Being bullish on ETH is now a decidedly contrarian guess,” Dunleavy mentioned.
The crypto market surged following Donald Trump’s victory in the USA presidential election, as many imagine his win will profit the business, Cointelegraph Research said.
Bitcoin rose to a peak of $76,500 the day after the election on Nov. 6 as merchants rode a wave of wider market optimism. Spot costs at the moment are at all-time highs, approaching $85,000.
On Nov. 11, Bitcoin reached a market capitalization of $1.62 trillion, mentioning the worldwide crypto market cap to $2.71 trillion, according to information from Cointelegraph Markets Professional and CoinMarketCap.
Ether spiked 10% on Trump’s election win and now sits round $3,300, nonetheless nicely beneath 2021 highs of greater than $4,700.
Solana’s native token, SOL, surged 22.5% between Nov. 5 and Nov. 7, reaching its highest level in seven months. At round $220 per token, SOL remains to be beneath 2021 highs of $260.
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