Steven McClurg, CEO of Canary Capital, forecasts that Bitcoin could reach between $140,000 and $150,000 by the end of this year, driven by increased institutional demand and ETF inflows. While Bitcoin has recently achieved a new all-time high of $124,128, McClurg is skeptical about Ethereum's lasting surge and considers it an outdated technology when compared to newer blockchains such as Solana and Sui. He believes that Ethereum's recent gains may wane as newer alternatives become more popular. Despite Bitcoin's potential rise, analysts suggest that it could face competition from Ethereum due to its dominant developer ecosystem and growing relevance in the crypto market. Meanwhile, Ethereum holders are preparing to unstake their tokens, potentially adding sell pressure to its price, and McClurg has also hinted at a potential resurgence of Litecoin as a viable alternative. Overall, while there is bullish sentiment surrounding Bitcoin's price potential, concerns linger around Ethereum's future position in the crypto landscape.

Source 🔗