{"id":35928,"date":"2024-02-08T18:52:58","date_gmt":"2024-02-08T22:52:58","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=35928"},"modified":"2024-02-08T18:52:58","modified_gmt":"2024-02-08T22:52:58","slug":"crypto-analyst-predicts-bitcoin-to-100000-but-says-cardano-is-dead-heres-why","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/08\/crypto-analyst-predicts-bitcoin-to-100000-but-says-cardano-is-dead-heres-why\/","title":{"rendered":"Crypto Analyst Predicts Bitcoin To $100,000 But Says Cardano Is Dead, Here\u2019s Why"},"content":{"rendered":"

Tom Dunleavy<\/a>, Partner and Chief Investment Officer (CIO) at MV Capital, recently elaborated on the reason for his price predictions for Bitcoin and Cardano. As part of his predictions, the crypto analyst had, at the beginning of the year, stated<\/a> that Bitcoin was going to hit $100,000<\/a> soon enough.\u00a0<\/p>\n

Why Bitcoin Will Rise To $100,000<\/h2>\n

In an interview<\/a> with Scott Melker, Dunleavy alluded to the Bitcoin Halving<\/a> as the reason why he believes Bitcoin will hit $100,000. Interestingly, he stated that this prediction was a \u201cbit light\u201d if the past post-halving numbers are to be considered. He noted how Bitcoin\u2019s price usually sees at least a 4x increase once the Halving event<\/a> takes place.\u00a0<\/p>\n

Bitcoin Halving continues to be predicted<\/a> as the event that will spark the next bull run, ushering in these price increases for Bitcoin. Skybridge Capital CEO Anthony Scaramucci<\/a> also referred to this event as the reason for his prediction that Bitcoin will rise to $170,000. Like Dunleavy, he also noted how Bitcoin usually sees at least a 4x increase after miners\u2019 rewards are cut in half<\/a>.\u00a0<\/p>\n

Indeed, Bitcoin is known to have experienced a big rally after the Havling took place. Historically, Bitcoin\u2019s price has seen an 8,000%, 284%, and 559% gain one year after the Halving in 2012, 2016, and 2020 respectively. Furthermore, Bitcoin\u2019s price has hit a new all-time high (ATH) in each of these instances, making the $100,000 price prediction very feasible.\u00a0<\/p>\n\n

Dunleavy also highlighted the Spot Bitcoin ETFs<\/a> and macroeconomic factors like the expected interest rate cuts<\/a> as other reasons why he thinks a 2x increase in Bitcoin\u2019s price is a \u201csolid base case.\u201d These ETFs are expected to keep contributing to an increased demand for the flagship crypto token, while a rate cut is usually bullish<\/a> for Bitcoin.\u00a0<\/p>\n

Why Cardano Is Dead<\/h2>\n

In his predictions for 2024, Dunleavy boldly claimed that Cardano would lose its relevance<\/a> and a new chain would take its place. Elaborating on the reason for this assertion, he alluded to the network\u2019s lack of a stablecoin<\/a> and that DeFi (Decentralized Finance) was basically \u201cnon-existent\u201d on it.\u00a0<\/p>\n

The crypto analyst went on to call Cardano\u2019s founder, Charles Hoskinson<\/a>, a \u201cmegalomaniac\u201d who is \u201cunwilling to change or adapt to the ecosystem.\u201d He suggested that this was the reason why projects on the network are looking to migrate to other networks, a move which he believes is going to cause Cardano to fade off in the long run.\u00a0<\/p>\n

Dunleavy also noted how Cardano\u2019s lack of Venture Capital<\/a> (VC) has handicapped the network, considering the recognition and users these VCs bring \u201cdirectly through their capital.\u201d This was another reason why the crypto analyst wasn\u2019t so hopeful about the network\u2019s future.\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Tom Dunleavy<\/a>, Partner and Chief Investment Officer (CIO) at MV Capital, recently elaborated on the reason for his price predictions for Bitcoin and Cardano. As part of his predictions, the crypto analyst had, at the beginning of the year, stated<\/a> that Bitcoin was going to hit $100,000<\/a> soon enough.\u00a0<\/p>\n

Why Bitcoin Will Rise To $100,000<\/h2>\n

In an interview<\/a> with Scott Melker, Dunleavy alluded to the Bitcoin Halving<\/a> as the reason why he believes Bitcoin will hit $100,000. Interestingly, he stated that this prediction was a \u201cbit light\u201d if the past post-halving numbers are to be considered. He noted how Bitcoin\u2019s price usually sees at least a 4x increase once the Halving event<\/a> takes place.\u00a0<\/p>\n

Bitcoin Halving continues to be predicted<\/a> as the event that will spark the next bull run, ushering in these price increases for Bitcoin. Skybridge Capital CEO Anthony Scaramucci<\/a> also referred to this event as the reason for his prediction that Bitcoin will rise to $170,000. Like Dunleavy, he also noted how Bitcoin usually sees at least a 4x increase after miners\u2019 rewards are cut in half<\/a>.\u00a0<\/p>\n

Indeed, Bitcoin is known to have experienced a big rally after the Havling took place. Historically, Bitcoin\u2019s price has seen an 8,000%, 284%, and 559% gain one year after the Halving in 2012, 2016, and 2020 respectively. Furthermore, Bitcoin\u2019s price has hit a new all-time high (ATH) in each of these instances, making the $100,000 price prediction very feasible.\u00a0<\/p>\n

Dunleavy also highlighted the Spot Bitcoin ETFs<\/a> and macroeconomic factors like the expected interest rate cuts<\/a> as other reasons why he thinks a 2x increase in Bitcoin\u2019s price is a \u201csolid base case.\u201d These ETFs are expected to keep contributing to an increased demand for the flagship crypto token, while a rate cut is usually bullish<\/a> for Bitcoin.\u00a0<\/p>\n

Why Cardano Is Dead<\/h2>\n

In his predictions for 2024, Dunleavy boldly claimed that Cardano would lose its relevance<\/a> and a new chain would take its place. Elaborating on the reason for this assertion, he alluded to the network\u2019s lack of a stablecoin<\/a> and that DeFi (Decentralized Finance) was basically \u201cnon-existent\u201d on it.\u00a0<\/p>\n

The crypto analyst went on to call Cardano\u2019s founder, Charles Hoskinson<\/a>, a \u201cmegalomaniac\u201d who is \u201cunwilling to change or adapt to the ecosystem.\u201d He suggested that this was the reason why projects on the network are looking to migrate to other networks, a move which he believes is going to cause Cardano to fade off in the long run.\u00a0<\/p>\n

Dunleavy also noted how Cardano\u2019s lack of Venture Capital<\/a> (VC) has handicapped the network, considering the recognition and users these VCs bring \u201cdirectly through their capital.\u201d This was another reason why the crypto analyst wasn\u2019t so hopeful about the network\u2019s future.\u00a0<\/p>\n

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