Canary Capital CEO: "Bitcoin year-end forecast at $150,000… cautious on Ethereum"

There is a projection that Bitcoin (BTC) could reach $150,000 by the end of this year. However, there are also voices raising concerns about the sustainability of the recent bullish trend in Ethereum (ETH).

According to Decrypt, a crypto-specialized media outlet, on the 17th (local time), Steven McClurg, CEO of Canary Capital, recently stated in an interview with CNBC, "There is over a 50% chance Bitcoin will reach the $140,000–$150,000 range within this year," adding, "However, another bear market could come next year."

McClurg pointed to inflows into spot exchange-traded funds (ETFs) and growing institutional demand from sovereign wealth funds, pension funds, and publicly listed companies as drivers behind Bitcoin’s rally.

On the other hand, McClurg expressed a somewhat negative view on Ethereum. He said, "Ethereum has performed well over the last five years, but the technology is already outdated," adding, "Networks such as Solana (SOL) and Sui (SUI) are faster, cheaper, and fundamentally more secure."

McClurg also offered a positive outlook on Litecoin (LTC). He stated, "Litecoin processes Ordinals faster than Bitcoin," and, "If Bitcoin is gold, then Litecoin could re-emerge as silver." Ordinals is a protocol that allows unique data such as illustrations, images, and video files to be inscribed and NFTs to be stored and issued on 'Satoshi', the smallest unit of Bitcoin (BTC).

Previously, Canary Capital has pushed for ETF listings of XRP, Sui, Cronos (CRO), Hedera (HBAR), Official Trump (TRUMP), and Litecoin.

He also noted, "August has historically been unfavorable for risk assets, while September and October often show bullish trends," advising that, "investors should pay attention to the seasonal volatility of the cryptocurrency market in the coming months."