In a January 19th video on Crypto Banter, Master Ventures founder Kyle Chassé explains why he believes $100,000 in BTC and $7,000 in ETH will be generated this year.
Chassé predicts Bitcoin will hit $100,000 this year, although those prices won't be seen until around May when the post-halving rally begins. Meanwhile, the analyst believes declines of 15% to 20% are likely. To support his prediction, Chassé points to the Bitcoin (BTC) charts to illustrate that the massive buying pressure from institutions is much greater than the market has seen so far.
The analyst points out that unlike retail buyers, institutions do not care about BTC prices, but rather how many assets they manage (AUM), as ETF issuers charge management fees to make their money. Additionally, with so much investment in legal fees, efforts and commissions, institutions are expecting some level of interest in what is likely to be a long-term investment, which is a positive sign for the market.
Since Ethereum is not in the institutional space, Chassé also predicts that Ethereum (ETH) will be the next play as there is no room for ETH inflows from ETFs yet. It is the only other cryptocurrency that has a chance of gaining institutional approval this year. Based on this, the analyst predicts a possible ETH season with prices between $6,000 and $7,000.
Chassé also shares that he views Solana as a blue chip and predicts that SOL will outperform ETH this year and one day reach the $500 to $1,000 range. He attributes this to institutional interest from major players such as Franklin Templeton, an American multinational holding company.
When referring to the 2021 bull market in one's predictions, it is worth noting that the cycle was previously led by a Bitcoin price of $69,000 in November 2021, with increased growth seen during the COVID-19 pandemic and The market witnessed increasing demand for digital payment solutions. Following this surge, the market lost $2 trillion in value over the following year and is only now poised for a comeback.
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