Analyst reveals a $300 billion Ethereum, Cardano, Zilliqa Bitcoin price prediction
Cryptocurrency prices recoiled this week as longs liquidations coincided with rising fears of a recession and profit-taking. Bitcoin price dropped from this months high of $31,000 to ~$28,200. The same is true for other altcoins like Ethereum, Cardano, Injective, Zilliqa, and Safemoon. Analysts are bullish on Bitcoin Despite the recent pullback, some analysts are still bullish on Bitcoin. On Thursday, analysts wrote that we are in a new wave of a bullish cycle that could push crypto prices much higher in the coming months. They noted that the collapse of FTX helped the industry by getting rid of highly speculative leveraged positions. The analysts also noted that Bitcoin was building its credentials as a safe haven as banks remain under pressure. It said: “Any potential dislocation, whether on the banks credit side, or on the sovereign side positions bitcoin perfectly as a safe-haven asset alongside gold.” Meanwhile, Changpeng Zhao, the founder of Binance, brought another angle in his crypto price prediction. He argued that Bitcoin price could surge in the next 12 months as investors wait for the upcoming halving. His argument was that Bitcoin has always surged before halving, which is a process that reduces the award size to miners. Bitcoin was trading at $12