Analyst predicts crypto bull run will be more parabolic than 2021
In a Jan. 19 video on Crypto Banter, Kyle Chassé, the founder of Master Ventures, shares why he believes this year will result in $100,000 BTC and $7,000 ETH.
Chassé predicts that Bitcoin will hit $100,000 this year, although these prices won’t be seen until around May when the post-halving rally starts. In the meantime, the analyst suggests that 15%-20% pullbacks are likely. To back up his prediction, Chassé points to the Bitcoin (BTC) charts to highlight that massive buy pressure from institutions is much more than the market has seen up until now.
The analyst relates that unlike the retail buyer, institutions don’t care about BTC prices, they care about how many assets they have under management (AUM) since ETF issuers charge management fees to earn their money. Moreover, with all the money invested into legal fees, efforts, and commissions, institutions expect a certain level of interest in what is likely to be a long-term play, a bullish sign for the market.
Since Ethereum isn’t in the institutional realm, Chassé also predicts Ethereum (ETH) will be the next play since there is no place for ETH inflows from ETFs yet. It is the only other cryptocurrency that has a chance of getting institutional approval this year. Based on this the analyst predicts a possible ETH season with prices likely to hit between $6,000 to $7,000.
Chassé also shares that he views Solana as a blue chip, predicting that SOL will outperform ETH this year, hitting the $500 to $1,000 range one day. He attributes this to institutional interest from major players like Franklin Templeton, an American multinational holding company.
In referencing the 2021 bull run throughout his predictions, it is worth noting that the cycle was previously led by a Bitcoin price of $69,000 in November 2021, with increased growth evident during the COVID-19 pandemic and the market seeing a rising demand for digital payment solutions. Following this run, the market lost $2 trillion in value in the following year and is only now looking at making a comeback.
