Crypto Market Forecast: Bitcoin, Ethereum, and Altcoins Set for Triple to Quintuple Surge in the Coming Year

Bitcoin’s price surged above $71k once again on Wednesday, driven by increased demand from institutional investors. The Thailand SEC recently approved the first spot Bitcoin ETF, following a similar product launch in the Australian market. In the United States, Fidelity Investments’ FBTC and BlackRock’s IBIT continued to attract significant cash inflows, with $378 million and $274 million respectively.

As a result, the altcoin industry gained fresh bullish momentum. Binance’s native coin, BNB, reached a milestone by surpassing $700 for the first time. Floki Inu (FLOKI), a meme coin, experienced double-digit growth in the past 24 hours, following a notable investment from DWF Ventures.

According to Ash Crypto, a popular crypto trader with over 1.1 million followers on the X platform, the next twelve months will be a wild ride for the digital asset industry. Ash Crypto predicts that Bitcoin will reach $100k, a significant psychological level. Ethereum’s price, on the other hand, is expected to surpass $10k and continue to rise. The analyst also believes that altcoins will experience massive pumps of 3x to 5x in a single day, while meme coins will reach billions in valuation.

In the bigger picture, the total cryptocurrency market cap is gradually gaining ground against traditional investment products like stock indexes and precious metals. The recent poor performance of the Indian stock market, with over $400 billion wiped out in a single day, highlights the growing attractiveness of cryptocurrencies amid market uncertainty. With the upcoming general election in the United States, the cryptocurrency industry is well-positioned to attract more investors seeking refuge from the volatile traditional markets.