COINOTAG News reported on December 31st that Steno Research has released a bullish forecast for the crypto market in the upcoming year. The analysis predicts that the price of Bitcoin could escalate from its current valuation of approximately $94,000, potentially reaching a staggering $150,000. Meanwhile, Ethereum (ETH) is expected to see a significant surge, with projections indicating an increase from $3,400 to at least $8,000. This anticipated growth suggests a rise in the ETH/BTC exchange rate from 0.0357 to 0.06 over the next twelve months, reflecting patterns observed in previous market cycles.
Market analyst Mads Eberhardt noted that these estimates may also hinge on broader political developments, such as the potential impact of Donald Trump’s presidential candidacy on altcoin performance. The report suggests a decline in Bitcoin’s market dominance from approximately 56.6% to around 45%. Additionally, the total value locked (TVL) in decentralized applications is projected to soar to a record $300 billion, potentially reinforcing the bullish sentiment surrounding altcoins.