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Bitcoin, the world’s largest cryptocurrency by market capitalization, is heading to the next target price of $100,000 after rising 33% in just a month, but Cardano’s founder projects beyond. Founder of Cardano Charles Hoskinson projects that Bitcoin will reach the price target of $250,000 in just 2 years. He believes that the target price is the lowest target to achieve, yet the highest target is $500,000. According to Hoskinson’s YouTube live video posted on Nov. 27, he noted that several factors would increase the Bitcoin price in the future, including the massive inflow into the crypto market as well as the institutional eyes that have be en interested in Bitcoin in recent days. “It is my believe that Bitcoin will go to quarter and half million dollars in the next 12 to 24 months, because of the investment inflow and and the great interest that has been achieved,” Hoskinson said. He mentioned that Bitcoin as a value store of the internet remain useful for decentralized finance (DeFi) in the future. The DeFi mode, also known as the new capabilities of DeFi, could bring Bitcoin through the Cardano network so the holders could participate in the DeFi ecosystem. You might also like: Cardano’s Charles Hoskinson receives award in Switzerland for Crypto Valley Cardano outlook Cardano , as one of the biggest cryptocurrencies based on market capitalization, has grown in the past month, increased 190% and reached a price of $1 for the first time after dropping in 2022. In the past 24 hours, the token was traded for $1.5 billion or dropped by almost 40%. The market is also eyeing the possibility of Cardano spot ETF after several cry ptocurrencies have already crypto product versions, including Bitcoin and Ethereum. You might also like: Hoskinson slams legacy crypto media after calling Ethereum a ‘dictatorship’
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XRP Outperforms Crypto Majors as Japan Yen Strength Signals Bitcoin Trouble
XRP tokens surged more than 5% in the past 24 hours to drive gains among majors in the past 24 hours as a Thanksgiving holiday saw bitcoin (BTC) avoid a feared historical “massacre,” with a slight uptick across the market. BTC rose above $96,000 in the early hours Friday, a steady rise from Thursday’s lows of $93,500. Ether (ETH), Solana’s SOL, and BNB were little changed, Cardano’s ADA moved 3.5%, and dogecoin (DOGE) lost 1.2%. The broad-based CoinDesk 20 (CD20), a liquid fund tracking major tokens, added 1.3%. Algorand’s ALGO and Worldcoin’s WLD jumped as much as 21% to lead gains among midcaps on no immediate catalysts. The crypto market’s moves in Asian hours came as the Japanese yen broke a key level against U.S. dollars. The yen briefly strengthened past 150 against the dollar due to expectations of a Bank of Japan (BOJ) rate increase in December, spurred by higher-than-expected Tokyo inflation data. The movement was likely accentuated by month-end financial adjustments and low liquidity due to Thanksgiving. Market sentiment leans towards a 63% chance of a BOJ rate hike, contrasting with a 67% likelihood of a Fed rate cut, which could reduce the attractiveness of yen carry trades. Yen is colloquially known as an "anti-risk" currency and is seen as a safe-haven currency that investors turn to during times of stress. Yen`s outperformance at the end of July and September has previously catalyzed the unwinding of carry trades, or bullish risk-on bets, financed by relatively cheap yen-denominated loans as it became more expensive to borrow the Japanese currency. A CoinDesk analysis earlier this week signaled bitcoin`s bullish run has weakened, with the Aussie dollar/Yen exchange rate dropping, signaling a risk-off mood. The AUD, linked to global economic health, and the yen tend to affect risk assets like BTC inversely. This scenario echoes an earlier period when a yen surge due to BOJ rate hike rumors led to an 8% drop in AUD/JPY and a $20,000 fall in BTC, showing the potential impact of FX movements on cryptocurrencies. crypto.news
BTFD Coin: The Meme Coin Roaring Presale You Can’t Miss After Ponke’s Glorious Moment
Missed out on Ponke’s hype? Don’t worry, BTFD Coin’s presale is your second chance to ride the meme coin wave! Read original article on coincu.com crypto.news
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