Investment research firm Fundstrat more than doubled its 2021 Bitcoin price forecast. They commented that Ethereum will significantly outperform the top cryptocurrency.
They increased the bitcoin price prediction 2.5 times
Fundstrat’s leading digital asset strategist David Grider says the investment research firm has raised the Bitcoin price target by two and a half times.
In our 2021 crypto outlook report two weeks ago, we raised our BTC target from $ 40,000 to $ 100,000.
The firm cites numerous macro and microeconomic factors affecting the updated BTC target; Some of these include the corporate FOMO (fear of missing the opportunity), public expectations of a weakening dollar, more regulatory clarity surrounding the asset, and an overall strong stock upswing.
Can Ethereum surpass BTC?
Fundstrat’s forecast for Ethereum points even higher than the Bitcoin forecast. Bloomberg reported last month that Fundstrat raised its 2021 Ethereum price target to $ 10,500.
Grider defines Ethereum as having the ‘best risk-reward ratio’ among all cryptocurrencies. The digital asset strategist predicted “could be the future of blockchain computing.”
In an interview with Yahoo Finance about Fundstrat’s new BTC target, Grider expanded his analysis of why companies will continue to invest in crypto assets such as Bitcoin and Ethereum, noting that the industry’s support is motivated by more than a desire to hedge against inflation.
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