Bitcoin Still Aiming For $100k This Year, Analyst Predicts $740,000 By 2028

Bitcoin has risen by 2% in the past 24 hours, rising back to $95,324 as the cryptocurrency market remains mostly flat today.

BTC has now largely recovered following a dip to just under $91,000 earlier this week, although the original cryptocurrency is still down by 3% in a week, while being up by 34% in a month.

Its recovery today puts it back on track to break through the $100,000 barrier a little later this year, while some experts are now suggesting that it could climb as high as $740,000 by 2028.

And while this is still another halving (and election) away, BTC’s momentum in recent weeks should enable it to end the year very strongly.

Bitcoin Still Aiming For $100k This Year, Analyst Predicts $740,000 By 2028

Writing in a letter to investors, Pantera Capital CEO Dan Morehead noted that the Bitcoin price has already appreciated by three orders of magnitude over the course of its history.

He therefore surmised that another similar increase “seems plausible,” which would imply that BTC could rise somewhere in the region of $740,000.

Such a figure may seem eye-watering, but Morehead argues that mainstream finance has still not really discovered Bitcoin or Blockchain.

He adds that a price of $740,000 would give BTC a market cap of $15 trillion, which in his view is not “inconceivable” in view of the fact that global financial assets currently amount to roughly $500 trillion.

Long-term predictions are notoriously delicate, but the fact remains that, in the near term, Bitcoin is certainly on an upwards trajectory, boosted by this month’s election of Donald Trump.

Its chart today shows that it’s regaining momentum after a difficult mid-week period, with its indicators hinting at a possible weekend rally.

For example, its relative strength index (purple) has lifted from nearly 30 on Tuesday to just over 50 today, a sign of renewing interest.

However, the past couple of days have seen some big transfers to exchanges, as if whales still aren’t entirely sure if Bitcoin has peaked or not for the current cycle.

Yet we President-elect Trump still hasn’t had his inauguration, with the announcement of crypto-friendly policy decisions likely to boost Bitcoin further in the coming months.

In such a context, Bitcoin could follow moves beyond $100,000 this year with climbs towards $120,000 by the end of Q1 2025.

New Presale Tokens Can Widen Exposure to Upside

While BTC is very likely to continue climbing for much of the next year, traders could widen their exposure to potential upside by diversifying into newer tokens.

This includes presale tokens, which if they generate enough momentum during their sales can surge upon listing.

And one coin with good momentum right now is layer-two project Pepe Unchained (PEPU), which has now raised over $56 million in its sale.

Pepe Unchained is weeks away from launching its L2 network for Ethereum, with its sale ending in a fortnight.

It has its sights set on becoming an ecosystem for meme tokens, meaning that it will be competing with existing L2s and also platforms such as Solana.

It offers instant bridging between Ethereum and its own Pepe Chain, while its scalability also enables it to offer double the staking rewards (in comparison with what it would have offered as a layer-one token).

As a token, it will have a max supply of 8 billion PEPU, with its protocol allocating 30% to staking and 20% to its presale.

The bullishness doesn’t stop there, however, since its official X account now reaches over 65,000 followers.

This is substantial for such a new coin, and points to how big Pepe Unchained could become once it launches.

Investors can join PEPU’s sale at the coin’s official website, where it’s now selling at $$0.01295 per token.

This is the final presale price, and also the final chance to buy PEPU before it (likely) surges upon listing.

Buy PEPU Now

The post Bitcoin Still Aiming For $100k This Year, Analyst Predicts $740,000 By 2028 appeared first on Cryptonews.

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[Source: CryptoNews]