Crypto Strategy: Bitcoin $100k target intact; corporate buyers offer surprise catalyst; Ethereum growing into our $10k target; crypto market on pace to hit $5T
Apr 30, 2021
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In this week’s crypto strategy note we discuss:
- Bitcoin rebounding from a healthy cooling off period last week as the macro backdrop remains accommodative & bull market remains intact
- Even if Facebook didn’t buy Bitcoin, corporates are coming, and it may not be reflected in earnings announcements yet
- Remaining overweight Ethereum and maintaining a price target of $10.5k as ETH reaches new highs and continues to outperform BTC
- Continue to see more upside in higher beta altcoins vs. Bitcoin as crypto markets are on pace to hit $5T