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Bitcoin Valuation “Still Super Low,” Expert Eyes $300,000 to $600,000

Market analysts, bolstered by BlackRock’s statements, see Bitcoin’s potential to reach $300,000 to $600,000 as its role as a global hedge strengthens amid geopolitical instability.

• Main Points:

  • BlackRock’s support: Bitcoin is seen as a hedge against global uncertainty, boosting confidence in its long-term growth.

  • Price predictions: Experts, including Michaël van de Poppe, predict Bitcoin could reach between $300,000 and $600,000 in the current market cycle.

  • ETF influence: BlackRock’s Bitcoin ETF has increased the asset’s institutional appeal, leading to its March 2024 peak of $73,000.

  • Long-term projections: VanEck predicts Bitcoin could hit $2.91 million by 2050.

• Detailed Insights:

  • BlackRock’s support: Describing Bitcoin as a “global monetary alternative,” BlackRock highlights its importance during financial instability, spurring optimism for its future price trajectory.

  • Price predictions: Michaël van de Poppe believes Bitcoin’s current valuation is still low and could rise as high as $600,000, driven by growing institutional interest and market developments.

  • ETF influence: The launch of BlackRock’s Bitcoin ETF in 2024 marked a turning point for the crypto, contributing to its all-time high of $73,000 and further boosting Bitcoin’s institutional adoption.

  • Long-term projections: VanEck forecasts that Bitcoin could reach $2.91 million by 2050, potentially leading to a total market cap of $61 trillion as interest in the cryptocurrency grows.

Related: BRICS Crypto Threat to US Dollar

Bitcoin’s role as a hedge and growing institutional interest position it for significant long-term growth, with potential price milestones far beyond current levels.

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Why Is Solana (SOL) Price Up Today?

Solana’s price surged due to lower US inflation, increased network activity, and excitement around the upcoming Solana Breakpoint conference. SOL is now trading near $135.

• Main Points:

  • Lower US inflation: Reduced inflation fears helped lift the crypto market, boosting Solana’s price.

  • Rising DEX activity: Solana’s decentralized exchanges saw a 7% increase in trading volumes.

  • Upcoming Solana Breakpoint conference: Anticipation for token launches and airdrops is fueling investor optimism.

  • Increased TVL: Solana’s total value locked (TVL) rose by 11% over the past month.

• Detailed Insights:

  • Lower US inflation: A 1.7% rise in wholesale prices eased inflation fears, positively impacting Solana and the broader crypto market. Investors are reassured that inflation remains under control, improving market sentiment.

  • Rising DEX activity: Solana’s decentralized exchanges (DEXs) saw a 7% increase in trading volumes since September 5. The network’s total value locked (TVL) increased to 36 million SOL, signaling growing confidence in the ecosystem.

  • Upcoming Solana Breakpoint conference: Investors eagerly anticipate announcements at the Solana Breakpoint conference, starting September 20. Notable tokens like Jupiter’s JUP and Binance’s BNSOL have contributed to the excitement.

  • Increased TVL: Solana’s TVL growth highlights strong demand for decentralized finance (DeFi) applications on the network, despite a decline in active DApp addresses.

Related: Bitcoin Consolidation Continues

Solana’s recent price rise is driven by favorable macroeconomic conditions and increasing activity within its ecosystem, with further excitement building around upcoming events and developments.

Why Is XRP Price Up Today?

XRP surged by 7% in the last 24 hours, with trading volume up 318%, driven by Grayscale’s announcement of an XRP fund. The price is eyeing a retest at $0.60, with strong market momentum.

• Main Points:

  • XRP trading volume soars: Volume surged by 318%, hitting $2.94 billion.

  • Grayscale XRP fund: Grayscale launched an XRP trust, boosting market optimism.

  • Bullish technical signals: XRP reclaimed its position above the 200-day EMA, signaling potential further gains.

  • Resistance at $0.60: XRP faces resistance but could break higher with continued momentum.

• Detailed Insights:

  • XRP trading volume soars: XRP’s trading volume skyrocketed by 318%, reflecting strong interest from both retail and futures traders, contributing to the 7% price rally.

  • Grayscale XRP fund: Grayscale’s announcement of an XRP-focused fund sparked a bullish reaction in the market, with speculation around a potential spot XRP ETF adding to investor optimism.

  • Bullish technical signals: XRP recovered above the 200-day EMA, which supports a potential breakout from the higher-low pattern. A daily close above $0.6586 would confirm a more bullish long-term trend.

  • Resistance at $0.60: Despite the recent gains, XRP faces resistance at $0.60. Breaking through this level could turn it into long-term support, potentially pushing XRP toward $0.70.

Related: Microstrategy Joins MSCI World Index Amid Bitcoin Rally

XRP’s momentum, driven by external catalysts like Grayscale’s XRP fund, shows strong potential for further gains, but key resistance levels remain in focus.

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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results