- SUMMARY
Bitcoin’s Volatility and Predictions Bitcoin has experienced a recent downturn, with its price dropping below $70,000 and Ethereum (ether) following suit.
However, Solana has exhibited a surge, boosted by enthusiasm for “meme tokens” listed on its platform.
Despite the retreat, Standard Chartered analyst Jeff Kendrick predicts that Bitcoin could reach $150,000 by December, fueled by the popularity of Bitcoin exchange-traded funds (ETFs).
Kendrick also foresees a possible rise to $200,000 by 2025.
Sam Bankman-Fried’s Sentencing Recommendation Prosecutors have recommended a prison sentence of 40 to 50 years for Sam Bankman-Fried, the disgraced former CEO of FTX.
They argue that this reflects the magnitude of the multi-billion dollar fraud he orchestrated.
Starbucks Ends NFT Reward Program Starbucks has announced the discontinuation of its NFT-based reward program, Starbucks Odyssey, effective March 31st.
The company intends to focus on developing future Web3 initiatives.
Market Commentary with Jason Urban Jason Urban, Global Head of Trading at Galaxy Digital, attributes Bitcoin’s recent consolidation to natural market fluctuations.
He anticipates continued demand for spot Bitcoin ETFs, acknowledging the participation of traditional finance investors.
Urban believes Bitcoin’s price forecast of $150,000 by Standard Chartered is within reason and highlights the steady flow of interest from various investors.
He also expresses optimism about the performance of the Invesco Galaxy Bitcoin ETF, which he sees as well-positioned in the long term.
Urban emphasizes the healthy state of crypto trading, with both established and new participants actively engaging in the market.
He believes this diversity contributes to the industry’s growth and stability.
- Key Takeaways
Expectations of Bitcoin’s Price Reach
Standard Chartered analyst Jeff Kendrick predicts Bitcoin could reach $150,000 by December due to the popularity of Bitcoin exchange-traded funds (ETFs).
He also foresees a possible rise to $200,000 by 2025.
Bitcoin’s Price Prediction Backed by Growing Demand
Jason Urban, Global Head of Trading at Galaxy Digital, anticipates continued demand for spot Bitcoin ETFs and traditional finance investors’ participation.
Diverse Participation in Crypto Trading
Both established and new participants actively engage in the crypto market, contributing to industry growth and stability, as emphasized by Jason Urban.