The world’s leading digital currency is currently trading around $9,700, still down 51% from its all-time high of $20,000.
But according to Simon Dedic, co-founder of Blockfyre, a crypto market research firm, bitcoin will rally 1,445% in the next bull run.
Dedic predicts $150,000 as bitcoin’s top, which isn’t the most outrageous one in the market. There have been popular calls of $100k by the end of 2021, $250k/$288k/$400k in the coming three to five years, and even a million in the future.
Interestingly, bitcoin had its third halving last month and historically, it has led the rallies. Amidst this, institutional adoption is strong with big names like Paul Tudor Jones also jumping in.
Bitcoin will rule the market, no doubt, but there are some altcoins as well that the venture capitalist is looking forward to in the next bull run.
Which altcoins will pump?
According to him, this bull rally won’t be like 2017 when one could have bought any altcoin and it would have been a good investment.
“This won’t happen again,” he said. But he still believes the bull rally will be here for altcoins and a few solid altcoins will see the pump.
Among the high market capitalization cryptocurrencies, Dedic has some really high price forecasts for Ethereum.
The second-largest cryptocurrency is already enjoying a rally for the past few weeks, with staking coming soon. It is also the base of the popular Decentralized finance (DeFi) ecosystem. Many are expecting Ether to outperform bitcoin.
Currently trading at $240, he expects it to hit $9,000, an uptrend of 3,650% much higher than Bitcoin just like in the 2017 bull rally.
Two of his altcoins are the hottest coins of the market, Tezos (XTZ) and Chainlink (LINK).
While Tezos is already up 120% YTD, LINK recorded 134% gains. Dedic sees both Tezos and LINK skyrocketing to $200 but while it is an increase of a whopping 6,723% for XTZ, it’s 4,455% for Chainlink.
BNB, the native coin of leading spot crypto exchange Binance, is also part of his altcoin to rally list which according to him can spike 2,840% to $500.
The most surprising addition to this list is VeChainThor, which he sees making the biggest percent of increase – more than 13,000%. VET is currently trading at $0.0075 and still down 73% from its ATH which according to Dedic could make its way to $1.
And the reason for the same is, “They continue to kill it and at some point, they will be rewarded.”
However, he did say that there needs to be “an improvement of the dual token system” because “VTHO isn’t optimal” and “it would be more beneficial for VET holders if VTHO wouldn’t be infinite and thus more precious.”