Steno Research said in a report on Sunday that it expects the price of Bitcoin to rise from about $94,000 to at least $150,000 next year, while the price of ETH will more than double from $3,400 to at least $8,000. That is, the ETH/BTC exchange rate will rise from the current $0.0357 to $0.06 in the next 12 months, similar to the price action in previous cycles, and altcoins will be the focus.
"This expectation is partly based on the argument that Donald Trump's victory in the US presidential election is more favorable for altcoins than for Bitcoin," analyst Mads Eberhardt wrote. Bitcoin's market share is expected to fall from the current level of about 56.6% to 45%, the report said. The TVL of decentralized applications is expected to reach a new high of $300 billion next year, which, if correct, further supports the argument for altcoin price increases. (Coindesk)