Canary CEO Predicts Bitcoin Will Hit $150K This Year—But Ethereum Surge Won't Last
Canary Capital CEO Steven McClurg predicts Bitcoin could reach $150K by the end of 2025, driven by growing institutional demand and ETF inflows. He emphasized this forecast during an interview, attributing the surge in Bitcoin's price to rising interest from sovereign wealth funds and pensions. Despite Bitcoin’s potential, McClurg expressed skepticism towards Ethereum, claiming it's an outdated technology compared to newer blockchains like Solana and Sui. He anticipates a downturn for Ethereum, even though it has historically shown strong performance. In contrast, another analyst, Greg Magadini from Amberdata, noted Ethereum’s dominance in the developer ecosystem and suggested that its price could catch up to Bitcoin due to its robust application network. With Ethereum’s validator exit queue indicating significant upcoming sell pressure, the landscape for Ethereum could change drastically, impacting its market dynamics. McClurg also floated the possibility of a Litecoin comeback, highlighting its advantages for smaller transactions and predicting seasonal volatility in the crypto market with potentially strong performance anticipated in the coming months.
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