Bitcoin Price Targets, Ripple (XRP) Developments, Cardano (ADA) Price Predictions: Bits Recap Nov 6
TL;DR
- Bitcoin (BTC) has hit an 18-month high at nearly $36,000, with predictions ranging from a conservative $150,000 by 2025 to an extreme $3 million.
- Ripple (XRP) has overtaken Ethereum (ETH) in popularity in 47 states across the US, with particular interest shown in Delaware, Nevada, Louisiana, Arizona, and Hawaii.
- Cardano (ADA) has seen a recent price spike to $0.35 with varying analyst predictions suggesting a potential rise to between $0.45 and an optimistic $30, propelled by global inflation and a growing crypto market capitalization.
Where is Bitcoin (BTC) Headed?
The primary cryptocurrency has been on a tear in the past few weeks, with its price recently hitting almost $36,000 (per CoinGecko’s data). The 18-month high has given experts and analysts the opportunity to lay out bullish forecasts, and some are quite extreme.
One such preposterous prediction came from the popular X (Twitter) user Luke Broyles, who suggested that BTC could explode to $3 million in the future. The analyst argued that the asset’s current condition resembles the one of the Internet in its early days.
Bernstein analyst Gautam Chhugani was a bit more modest, envisioning BTC’s valuation to reach $150,000 in 2025. He also expects that one or more spot Bitcoin ETF applications will receive approval by the US SEC by the first quarter of 2024.
Two other prominent figures who touched upon the matter were Max Keiser (Chairman of El Salvador-based Bitcoin mining startup Volcano Energy) and Michael Saylor (Executive Chairman of MicroStrategy). The former believes that the leading digital asset could spike to $200K following possible social unrest, while the latter sees BTC trading at over $350K, bolstered by the 2024 halving event.
Those willing to check five additional Bitcoin forecasts coming from well-known names could take a look at our dedicated video below:
Ripple (XRP) Captures the Interest
Ripple and its native token – XRP – have also been in the spotlight. As CryptoPotato reported last week, the asset’s popularity has surged significantly in the US, surpassing that of Ethereum (ETH).
Specifically, the residents of 47 states have displayed higher interest in Ripple’s coin than the second-largest by market capitalization. Delaware, Nevada, Louisiana, Arizona, and Hawaii are the regions where XRP is the most popular. On the other hand, Vermont, New York, Oregon, and the District of Columbia are the only areas where Ethereum gained more interest.
Cardano (ADA) Also Gains Traction
Cardano’s native token – ADA – has been another crypto asset showing great performance recently. Its price spiked to approximately $0.35 (a figure last seen in July 2023), and some analysts envisioned a further rally.
The X user John Morgan shared research that estimated that the asset might soar to around $0.45 based on the rapid surge of transaction volume involving the coin. Another person, using the handle Ali, was more bullish, claiming ADA has a chance to skyrocket to almost $10 by the end of the year.
While those forecasts might sound somewhat realistic, the one coming from the X user Lucid could be described as very optimistic. The analyst thinks that global inflation could act as a catalyst for the cryptocurrency market and push its capitalization to $10 trillion within the decade, while ADA could explode to the astonishing $30.
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