Seeking to dispel misconceptions on the sustainability of the upward mobility in the crypto market on Monday, experts believed this was not a fake rally, but one supported by fundamentals and market sentiment. Bitcoin (CRYPTO: BTC) could pass its all-time high of $69,000 by the end of 2024 and reach new all-time highs in 2025.
Bitcoin and altcoins, including Dogecoin (CRYPTO: DOGE), Shiba Inu (CRYPTO: SHIB), Ordi (CRYPTO: ORDI) and Terra Luna (CRYPTO: LUNC) were witnessing a significant upswing, with the largest digital asset rallying to an almost 18-month high.
Michael Terpin, CEO of Transform Ventures and founder of BitAngels, believed that this was not a fake rally: “This is by no means a fake rally, as it’s supported by fundamentals and market sentiment.”
He predicts Bitcoin should pass its all-time high of $69,000 by the end of 2024 and reach new all-time highs in 2025 that are roughly 3x the price at the April 2024 halving.
Terpin also highlighted the performance of certain projects from the past two cycles, including Avalanche (CRYPTO: AVAX), Chainlink (CRYPTO: LINK) and ThorChain (CRYPTO: RUNE), which performed even better than Bitcoin in the past 30-45 days.
He predicts new projects such as Celestia (CRYPTO: TIA) will power the largest altcoin market cap in history by the end of 2025.
Pratik Gauri, the CEO of 5ire, said in times like these, projects with solid products, supportive communities and in-built resilience were likely to do well.
“The longevity and success of any project also depends on ongoing developments, adoption, and the ability to adapt to the evolving landscape. While surviving a bear market suggests resilience, continued success will hinge on sustained innovation and market relevance over the next five years,” he added.
Davinder Singh, CTO at RocketX Exchange, tied the surge in Bitcoin prices to the anticipation surrounding the spot Bitcoin ETF.
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He suggested post-approval, a temporary dip is anticipated, followed by a potential climb to new records.
Lucas Lu, CEO of ByteTrade Lab, an infrastructure builder focusing on Web 3.0 innovation that includes data privacy and user empowerment, viewed the recent highlight of Bitcoin…
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