The cryptocurrency market experienced a notable comeback last week after a downturn at the end of September. Investor enthusiasm has revived as they seek safe-haven assets due to uncertainty stemming from the US government’s first shutdown in six years.
Analysts predict Bitcoin (BTC) could echo gold’s recent rally, potentially reaching a new peak of $150,000 by the year-end. According to Charles Edwards, founder of Capriole Investments, Bitcoin’s rebound past $120,000 marks a critical moment.
BTC/USD, one-day chart. Source: Cointelegraph
Edwards detailed this perspective at the Token2049 event in Singapore, stating, “I wouldn’t be surprised if we went up to $150,000 in a pretty short time.”
Translation: “There’s a potential for a quick surge to $150,000 once we break through the $120,000 level.”
ARK Invest’s Cathie Wood drew parallels between Hyperliquid and Solana, suggesting Hyperliquid’s emerging potential. She acknowledged, “It reminds me of Solana in the earlier days,” while emphasizing ARK Invest’s exposure includes core assets like Bitcoin and Ether (ETH).
BTC/USD, one-month chart. Source: Cointelegraph
Roman Storm, co-founder of Tornado Cash, is defending against charges of unlicensed money transmission. He argues prosecutors didn’t demonstrate his intent to facilitate misuse of the mixer.
According to Rob Hadick from Dragonfly, tokenized stocks may boost traditional markets but might not deliver expected benefits to crypto. “They want 24/7 trading, it’s better for their economics,” he explained, cautioning about unclear advantages for crypto entities.
Sergej Kunz, co-founder of 1inch, forecasted that centralized exchanges could phase out in 5 to 10 years as decentralized finance (DeFi) platforms take precedent. “They adopt our technology, because it’s something which will empower the whole financial industry,” he said.
In summary, the market shows encouraging signs following notable developments, especially with Zcash reportedly increasing by over 157%, making it the week’s standout performer.
