Fundstrat Global Advisors’ most recent “Weekly Crypto Briefing” and the company’s lead digital asset strategist, David Grider, opines a target bitcoin price of $100k per coin is still “intact.” Moreover, Fundstrat believes that the price of ethereum will reach a $10k target, while the entire crypto-economy is “on pace to hit $5 trillion.”
Fundstrat Maintains $100K Target for Bitcoin
The independent financial research firm Fundstrat has a very bullish view of the current trajectory of cryptocurrency markets in the future. Fundstrat’s digital asset strategist, David Grider explains in the company’s weekly briefing covering digital assets that bitcoin (BTC) has rebounded after a “healthy cooling-off period last week.”
Grider’s report further says that “the macro backdrop remains accommodative [and the] bull market remains intact.” The Fundstrat briefing stresses:
We believe the bull market remains intact, and we are maintaining our $100k Bitcoin price target.
One of the accommodative reasons for the bullish view Fundstrat mentions is that the Federal Reserve met this week and decided to keep its monetary easing policies intact. “The Fed’s recent guidance that it plans to remain accommodative should be supportive for risk assets like crypto,” Grider remarked.
The digital asset strategist said the company said it had predicted a rush of corporates entering the crypto space back in January and Fundstrat claims this has come to fruition for the most part. Grider noted that the company thinks this will “happen more and will be one new source for capital flows into the crypto economy.”
‘Ethereum Continues to Outperform Bitcoin’
After the report discussed bitcoin (BTC) and corporates entering the crypto industry, Fundstrat’s Grider detailed that the firm maintains a price target of $10.5k per ether, and mentioned the crypto asset “continues to outperform BTC.” Ethereum’s digital…