Former Goldman Sachs executive Raoul Pal predicts that institutional investment in cryptocurrencies will drive the total market cap to over $10 trillion, more than triple its peak in 2021, as financial institutions follow the lead of family offices in entering the crypto space.
Cryptocurrencies, including Bitcoin and Ethereum, experienced a rise in value as investors anticipated the Federal Reserve's annual meeting and Bitcoin attempted to reach $30,000.
In July, capital inflows from venture capitalists in the crypto sector decreased by 10.26%, with $700 million raised, as macroeconomic conditions and geopolitical events continued to impact investment decisions, although some notable outliers, such as Polychain Capital and CoinFund, launched new funds totaling millions of dollars, and the potential approval of spot Bitcoin exchange-traded funds (ETFs) in the U.S. could bring renewed attention and capital into the industry. Infrastructure and Web3 sectors received the most capital inflows, while overall investor activity in the blockchain industry remained low, suggesting a slow return to a steady upward trend.
Bitcoin is projected to reach levels of $200,000 or even $1 million in the future, with growing institutional interest and limited supply driving its bullish trajectory, according to industry experts.
Five crypto and blockchain-based companies raised a total of $24 million this week, with notable fundraises including $13 million for bitcoin mining company Nodal Power and $5 million for crypto lender Maple Finance.
The 1inch Investment Fund's crypto wallet has purchased $10 million worth of Ether (ETH) after cashing out on previous trades, bringing its total digital asset holdings to $80 million.
Despite a bearish sentiment, major cryptocurrencies trade in the green, with over $10 million spent on Ether by the 1inch Investment Fund's crypto wallet.
ARK Invest CEO Cathie Wood predicts that the market capitalization of cryptocurrencies will increase by over 2,100% in less than seven years, driven by institutional investment and the potential approval of a Bitcoin exchange-traded fund (ETF), with the total crypto market cap potentially reaching $25 trillion by 2030.
The crypto market analyst at Bloomberg Intelligence predicts that the unlocking of billions in capital flowing into US-based ETFs could make 2024 a significant year for digital assets despite the US Securities and Exchange Commission's stance on crypto.
Crypto analyst Benjamin Cowen believes that Bitcoin is likely to follow its historical bearish price action seen in pre-halving years and predicts that the cryptocurrency will remain within a range of $12,000 to $35,000 for the rest of 2023.
Bitcoin and crypto could experience significant growth in the next few months, with September expected to be a particularly eventful period, including the potential impact of U.S. bitcoin ETF filings and China declaring crypto as "legal property and protected by law."
Deep-pocketed Bitcoin holders have accumulated over $1 billion worth of BTC in the last two weeks, while the number of investors holding at least 10 BTC has reached a three-year high; the growth in market caps of the top six stablecoins suggests a potential reversal in the crypto market.
Global search traffic for the term "cryptocurrency" has reached a five-year low, potentially influenced by factors beyond price volatility such as regulatory crackdown and increased knowledge of crypto among the general public.
Crypto funding in August appeared promising with a $819 million investment, but without two large funding rounds, it would have actually shown a decline from July and a significant decline from the same time last year, reflecting a continuing slowdown in the industry.
Only 22 out of the nearly half a billion people invested in cryptocurrency have become billionaires through their investments, with Bitcoin being the most common asset held by crypto billionaires, according to a report by Henley & Partners. The report also revealed that the US ranked third in terms of public adoption of cryptocurrencies, behind the UAE and Singapore.
Despite a decrease in venture capital investments in June, new crypto projects are still attracting funding, including Orbital's $6.4 million raise for expanding blockchain payment infrastructure, unshETH's $3.3 million seed round for decentralized finance solutions, ZTX's $13 million funding for Web3 infrastructure development, Stroom Network's $3.5 million raise for Bitcoin staking, and Fxhash's $5 million funding for its digital art platform.
Despite the uncertain regulatory environment and the current state of the crypto markets, asset managers remain interested in digital assets and expect the industry to grow in the next five years, with many estimating a compound annual growth rate of at least 11%.
The global Bitcoin Bank market is expected to experience significant growth between 2023 and 2030, with the market value projected to reach multimillion dollars by 2030.
Cryptocurrency asset outflows reached $59.3 million in a four-week streak, driven by regulatory concerns and a decline in trading volumes, with Bitcoin seeing the most outflows while Solana experienced outflows after a nine-week run of inflows.
Institutional investors are less optimistic about cryptocurrency due to a strong dollar and regulatory concerns, leading to consecutive weeks of outflows totaling nearly $60 million, according to CoinShares.
Bitcoin stabilizes around $26,500 as it prepares for the upcoming FOMC meeting, with traders expecting the cryptocurrency to continue trading within the $25,000-$27,000 range in the short term.
The use of crypto wallets is predicted to grow by $686 million by 2026, driven by the expansion of wireless networks, online transactions, and evolving regulations, according to market research firm Technavio, with the COVID-19 pandemic and the rise of play-to-earn games contributing to the increase in wallet creation. However, new regulations aimed at regulating cryptocurrencies could potentially slow down adoption.
Blockchain Capital has raised $580 million for two new funds, with $380 million allocated for early-stage companies and protocols, and $200 million for late-stage investments, indicating continued investor interest despite the subdued state of the digital asset market.
Crypto funds have experienced outflows of $455 million over the past nine weeks, with bitcoin accounting for 85% of the outflows, as investors continue to withdraw funds despite recent legal victories for the industry.
Deep-pocketed crypto investors have moved over $660 million worth of Bitcoin, Ethereum, and Chainlink as Bitcoin's price drops below $27,000.
The crypto fund management business could see assets of up to $650 billion in five years due to the expected launch of spot-based bitcoin ETFs, according to a research report by broker Bernstein.
Around 30 cryptocurrency projects are set to release over $200 million worth of tokens in October, with six projects accounting for nearly 80% of the release, according to Token Unlocks data.
Major cryptocurrencies experienced a significant increase in value as over $100 million was unexpectedly liquidated due to a surprise surge in the price of Bitcoin, coinciding with the start of "Uptober," a potentially bullish trend for cryptocurrencies in October.
Crypto analyst predicts Bitcoin (BTC) could reach $89,000 by 2025, with a "max upside" of $142,000, depending on factors such as on-chain supply, the approval of spot BTC ETFs, and overall adoption of the cryptocurrency.
Large Bitcoin holders have been accumulating the cryptocurrency since September, leading to predictions of a return to the $30,000 price level, although some analysts disagree with this analysis.
Cryptocurrency investment products experienced inflows of $78 million for the second consecutive week, with volumes of crypto exchange-traded products reaching $1.1 billion and Bitcoin volumes rising by 16%, according to CoinShares.
Crypto investments surged by $78 million, with Bitcoin and Solana leading the way, according to CoinShares' latest investment report. Bitcoin received $43 million in inflows, while Solana experienced its largest weekly inflow since March 2022.
Bitcoin price is predicted to reach $750,000 to $1 million by 2026, according to Arthur Hayes, who highlights a major financial crisis and mounting debt as catalysts for the cryptocurrency's surge.
Improving efficiency and increased demand for Ethereum will lead to a potential rise in the price of ether to $8,000 by the end of 2026, according to Standard Chartered analyst Geoff Kendrick, with a long-term valuation of $26,000-$35,000. The forecast is based on expected improvements to the Ethereum blockchain, the growth of NFT transactions, the development of blockchain gaming, real-world asset tokenization, and positive regulatory developments.
Crypto investors have moved over $500 million worth of Bitcoin, Ethereum, and other digital assets to cryptocurrency exchanges and unknown wallets, according to data from Whale Alert.
Investments in blockchain gaming reached $600 million in the third quarter of 2023, with a total of $2.3 billion invested in the sector this year, despite lower investment levels compared to 2022.
Investors have poured $2.3 billion into the crypto gaming sector in the first nine months of 2023, with $600 million invested in the last quarter, making it the leading decentralized application (DApp) category, according to blockchain intelligence platform DappRadar; however, this figure represents only 30% of last year's total, suggesting external market conditions may be a factor.
Bitcoin's current price, which is below $30,000, presents an opportunity for investors to add it to their portfolios due to potential near-term catalysts like the upcoming halving, the possibility of approved Bitcoin exchange-traded funds, and a more accommodative Federal Reserve policy that could boost the cryptocurrency's price in the long term.
Bitcoin (BTC) is predicted to reach $128,000 or more by the end of 2025, according to multiple analytics models, with one analyst projecting a two-year target of around $130,000 and suggesting that the area around this price is becoming a magnet due to the long-term bullish outlook.
The market for tokenized assets, including crypto and traditional financial products, could reach $10 trillion by 2030, according to a report by digital asset manager 21.co, as crypto and traditional finance merge through tokenization.
According to data analytics firm CryptoQuant, the approval of bitcoin spot exchange-traded funds (ETFs) could lead to bitcoin becoming a $900 billion asset and the total crypto market growing by $1 trillion, with the potential inflow from ETFs being larger than that of the Grayscale Bitcoin Trust (GBTC) in the last bull market cycle. This scenario could push bitcoin's price to between $50,000 and $73,000, and historically, for every $1 of fresh money entering the bitcoin market, the market capitalization could increase by $3-$5.
Cryptocurrencies have shown slight growth amid macroeconomic challenges, as investors remain optimistic about the approval of spot Bitcoin exchange-traded funds by regulators.
Bitcoin (BTC) has experienced a 70% increase in 2023 and could continue to climb, potentially reaching price targets of $45,000-$50,000 by the end of the year, but faces headwinds from the tightening policies of the United States Federal Reserve; Standard Chartered also predicts a year-end price of $50,000 due to reduced BTC supply from miners.
Bitcoin's market cap could reach $900 billion if spot exchange-traded funds (ETFs) are approved next year, leading to an influx of institutional money into the market, according to a report by CryptoQuant. This could also raise the entire crypto market cap by $1 trillion.
The approval of a Bitcoin spot exchange-traded fund (ETF) in the US could potentially add $1 trillion to the crypto market value, according to bitcoin and crypto price models.
Bitcoin surpassed $30,000 for the first time since August, driven by optimism that the SEC will approve exchange-traded funds (ETFs) investing directly in the cryptocurrency. Market participants anticipate approval of a spot bitcoin ETF by January 10th, the deadline for a response to ETF applications.
Crypto analyst DonAlt has re-entered the market with a long position on Bitcoin, buying in at $27,000, while fellow analyst Credible Crypto is also bullish on Bitcoin, stating that the cryptocurrency has "launched" and could see significant gains if it stays above $28,600.
The US government holds over $5.5 billion worth of bitcoin, and its decision to hold or sell the cryptocurrency could greatly influence its price.
