On September 29, famous trader Eugene Ng Ah Sio made an important announcement on social media, announcing that the current bull market in Bitcoin and altcoins has entered its second phase. Stating that investors should clarify their goals with the start of this phase, Ng shared the ultimate price targets that can be reached at the peak of the bull market. However, he emphasized that these targets are difficult to predict with certainty and offered certain price ranges. These ranges are based on the assumption that “Trump wins the election and the US economy makes a soft landing.”
Cryptocurrency Bull Market in New Phase
Eugene Ng Ah Sio has been operating in the cryptocurrency market for many years and is known for his successful predictions. His recent statements have had a wide impact on the markets. While stating that the bull market has entered a new phase, he gave signals that the value of cryptocurrencies will accelerate. However, he refrained from giving definitive information about where this rise will end. Instead, he reminded investors to be careful about market fluctuations.
Although the price ranges offered by Ng show the potential of a bull market, many investors question how possible it is to reach these prices. Significant price increases are expected, especially in major cryptocurrencies such as BTC (Bitcoin), ETH (Ethereum) and SOL (Solana). However, the realization of these targets will depend on market conditions and the extent to which Ng’s assumptions come to life.
Price Targets for Bitcoin, Ethereum, and Solana
Ng shared particularly striking price ranges for Bitcoin, Ethereum and Solana. According to him, at the end of the bull market, Bitcoin’s price could be between $100,000 and $200,000. While setting a target of $4,000 to $6,000 for Ethereum, he stated that Solana’s price could be between $500 and $1,000. These targets are quite ambitious considering the high volatility in the cryptocurrency market in recent years.
Considering that Bitcoin reached as high as $69,000 in the previous bull market, a target of $100,000 seems reasonable, but reaching $200,000 is still uncertain for many investors. While Ethereum is expected to exceed $4,000, a target of $6,000 is considered more aggressive. Solana’s target of $1,000 is quite high compared to its performance in the previous bull market.
Crypto Market Cap: Is $10 Trillion Possible?
Eugene Ng made a bold prediction about the total value of the cryptocurrency market, not just individual cryptocurrencies. According to him, the total value of the market could range from $5 to $10 trillion. Currently, the total value of the cryptocurrency market is around $1.1 trillion. Even the lowest value Ng predicted is almost five times the current market value. Therefore, the market value of $10 trillion is considered a speculative target by many experts.
Ng points to Trump’s election victory and a soft landing for the US economy as important factors for these goals to be realized. He emphasizes that if these conditions are met, the cryptocurrency market has serious growth potential.
Eugene Ng’s predictions are largely based on the political and economic future of the United States. Ng believes that Trump’s victory in the 2024 US presidential election will have a positive impact on crypto markets, and if this scenario happens, cryptocurrencies will gain value faster. Trump’s victory and a possible soft landing could cause investors to turn to riskier assets, which could increase demand for cryptocurrencies and cause prices to rise rapidly. However, if the US economy makes a hard landing or Trump loses the election, these predictions may become difficult to come true.
