Prominent Bitcoin bull Michael Saylor recently doubled down on his sky-high price target of $100,000 for the leading cryptocurrency. Now, crypto analyst Altcoin Daily has provided his take on Saylor’s outlook while spotlighting three cryptocurrencies to watch in 2024.
Altcoin Daily affirmed Saylor’s bullish perspective, noting surging demand for Bitcoin exposure through exchange-traded funds (ETFs) against limited natural supply growth from miners.
With the next block reward halving further constricting supply in 2024, Altcoin Daily believes the stage is set for tremendous capital inflows that could propel Bitcoin well past its $69,000 all-time high.
Also read: Ethereum Breaks Crucial Resistance; Will ETH Hit $3,000?
Ethereum poised for mainstream Investment
In addition to Bitcoin’s upside prospects, Altcoin Daily discussed strengthening fundamentals for Ethereum, the second-ranked crypto asset.
With major financial institutions developing plans to open Ethereum investment to retail consumers, demand looks poised to accelerate dramatically. If realized, this anticipated influx of capital could serve as Ethereum’s next catalyst for fresh highs. Ethereum is trading at $2,658 with a 13% surge in value over the last seven days.
Also read: Bitcoin (BTC) Could Drop To $30,000 Despite Recent Surge, Here’s Why
Solana Emerges as a ‘Rising Star’
Beyond Bitcoin and Ethereum, Altcoin Daily shined a spotlight on Solana. Citing Solana’s “impressive performance metrics,” he painted a picture of a true “rising star” with tremendous developer and investor interest. Solana is trading at $112 with a 19% surge in value over the last seven days.
Polkadot coming up with a major upgrade
Polkadot’s upcoming major network upgrade could unlock transformative potential. Polkadot is preparing for its eagerly awaited 2.0 upgrade, and investors are keenly watching for potential transformative changes that may impact its growth trajectory.
DOT is up by 2.4% in the last 24 hours and 14% in the last seven days. It is trading at $7.59 at press time.
Also read: Solana Weekly Price Prediction; SOL Eyes Further Upside
Of course, predicting precise price targets and catalyst timing remains highly complex with cryptocurrencies. However, top analysts generally share a constructive long-term outlook amid rising institutional adoption.
If the most bullish projections even partially materialize, both Bitcoin and select altcoins could massively outperform expectations in this cycle.