I'll keep this simple. Etoro's buying Zengo, a crypto wallet company. Not sure if Zengo is truly non-custodial, but that's what the news says.
What caught my attention is Etoro's CEO predicting Bitcoin could hit $250K after the accumulation phase. He thinks Q2 will still be bearish, but after that, we might see some accumulation and possibly a bull run. What do you guys think, is $250K realistic?
Anyone can make predictions like that, but I’m not sure I agree. While it's bold to say $250K this year, I do think in the next bull run, it's possible Bitcoin could hit that mark or even higher. The bear market might end before then.
But come on, that wallet can't be what they claim. They say it’s open source, but if you don’t get your private keys or seed phrases, can it really be self-custody? I read they use MPC and some 3-factor authentication, which means they store data somewhere. If they revoke access, you're out of luck.
Honestly, I vibe with that. Q2 seems bear-ish just like Q1. We’ll probably see some sideways movement in Q3, and then maybe a bull run by the end of the year. As for the $250K prediction, it’s ambitious but not impossible. A 100% increase from ATH seems tough though.
Yeah, but Etoro already does crypto custody and trading. Shifting to a non-custodial model makes sense if they get it right. I’ve seen Zengo has a few keys to access crypto one on the user's phone and others on servers. However, I’m skeptical if that open-source server only kicks in when the others fail.
We’ve seen predictions like this before remember last bull run when they said we'd hit $150K-$180K? It didn’t happen. Not saying $250K is impossible, I've seen $300K toss around too, lol. But seriously, what's going to push us there? Last time it was all about ETFs and halving.
Predicting without data is kinda wild. Anyone can throw out a number. But yeah, I think Bitcoin could touch $200K in the next bull run. That’s not far off from $250K, but let’s be real, it’s unlikely this year.
$250K is just a stone's throw away only 2x from ATH. It could happen if certain global changes go down. Plus, mergers in crypto are rare. Etoro buying a wallet provider is interesting, but there are so many open-source options.
Everyone's just throwing out what they want to see, not what's realistic. Bull market this year? Forget it. Some prices might hit, others won’t, but $250K this year? Nah, that’s way off.
True, we’re in a bear market and things still look decent. Who knows what the future holds? Q2 will probably stay the same, we’ll see how these last couple months play out. As for $250K, it’s a matter of timing.
If we’re talking next bull run, I’m on board. $250K seems doable given Bitcoin's growth rate. People say we’re in a bear market, but prices are still okay. If this is the bear market bottom, $250K could be easy.
$250K does seem realistic, but yeah, predicting Bitcoin’s next bull run is tricky. So many factors can change things. Right now, it feels like guessing more than anything. But Bitcoin will definitely rise again, let’s make the most of this bear market.