Canary Capital CEO Steven McClurg predicts Bitcoin could reach $150,000 by the end of the year, driven by strong institutional demand and ETF inflows. He expressed skepticism about Ethereum, suggesting its recent surge may not be sustainable and that newer blockchains like Solana and Sui are outpacing it. McClurg emphasizes investor interest from sovereign wealth funds and pensions as key factors boosting Bitcoin’s price. Recently, Bitcoin hit an all-time high of $124,128. Despite Ethereum's growth, McClurg views it as outdated, indicating that it is unlikely to reclaim its all-time highs. An analyst, Greg Magadini, counters this view, asserting Ethereum's dominant developer ecosystem will keep it competitive. Moreover, concerns arise regarding potential sell pressure on Ethereum as significant amounts become unstaked. McClurg also anticipates a resurgence in Litecoin due to its transaction efficiency, hinting at the volatile nature of crypto markets historically affected by seasonal trends. August has been noted as a challenging month for risk assets, while September and October generally see stronger performances.

Source 🔗