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Bitcoin Could Be About To Soar To $100,000 And Ethereum To $5,000 As Cardano And Solana Suddenly Surge

Bitcoin Could Be About To Soar To $100,000 And Ethereum To $5,000 As Cardano And Solana Suddenly Surge
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Bitcoin and cryptocurrency prices jumped today as Ethereum rival Cardano made a huge leap higher — even after Coinbase revealed a surprise Ethereum last week.

Bitcoin price is still far from the closely watched level of $50,000 per bitcoin, but Ethereum has once again surged above the $3,000 mark after falling below it earlier today.

Now, with Cardano and Solana making double-digit gains and outperforming other cryptocurrencies, famed investment strategist Lynne Alden has predicted that Bitcoin will hit $100,000 and Ethereum to reach $5,000 as soon as next year.

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“I think we’re still kind of in the early to middle stage of its long-term path,” said Alden, who founded Lynne Alden’s investment strategy in 2016. from the inside in an interview. “So this remains, I think, the best risk-return as a sort of allocate-and-forget.”

Alden believes that Bitcoin has a good chance of surpassing $100,000 sometime before the end of 2022 while supply pressure from the recent Ethereum upgrade is “tactically bullish” and could send the price of Ethereum over $5,000.

The common cryptocurrency market recently returned to over $2 trillion, fueling several bullish Bitcoin and Ethereum expectations.

Mike McGlone, chief commodity strategist at Bloomberg Intelligence, said that bitcoin could soon reach $100,000, while Tom Lee, head of research at Fundstrat Global Advisors, believes bitcoin will surge higher and rally strongly during the second half of 2021.

The latest crypto rally has seen the Ethereum blockchain’s competitors, Cardano and Solana, more than double in the last month alone.

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“I think Solana is a very well designed competitor to Ethereum,” Alden said. “The main risk is that it’s newer. It doesn’t have a significant impact on the network yet. So it hasn’t really reached critical mass, but it’s well designed.”

Solana has close ties to the fast-growing cryptocurrency exchange FTX – FTX’s sister company Alameda Research is an investor in solana, and FTX also operates its own decentralized exchange called Serum on the solana blockchain.

Cardano, which is now the third most valuable cryptocurrency after Bitcoin and Ethereum with a combined value of $75 billion, has surged 30% over the past week as investors look forward to the much-anticipated upgrade scheduled for release on September 12. The blockchain will enable cardano to support smart contracts and decentralized finance (DeFi) applications.

“The upgrade will help Cardano keep pace with ethereum’s capabilities,” Lukas Enzersdorfer-Konrad, chief product officer of Vienna-based brokerage Bitpanda, wrote in an email note.

However, Alden is less confident when it comes to Cardano.

“We have to see what happens with Cardano,” Alden said. “They have a lot of tubes, but their development is very slow, so I tend to prefer solana over cardano.”

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