Bitcoin could end up reaching $125,000 by the end of the year, but other cryptocurrencies will likely outperform, according to CK Zheng, founder of crypto hedge fund ZX Squared Capital.
“There’s a correlation between bitcoin and altcoins, but I think bitcoin dominance is going to go down,” Zheng told CoinDesk in an interview. “If you want a crypto ecosystem to really develop, you can’t have 60% of the market’s value stuck in bitcoin.”
The reason? The Trump administration is already proving much friendlier towards the crypto sector than its predecessor. Not only is the White House contemplating the possibility of creating a national crypto reserve, but the Securities and Exchange Commission (SEC) has been ditching its lawsuits against crypto companies and protocols like Kraken and Uniswap.
“New policies and regulations will come out and trigger a lot of new ideas for innovation and shake up the crypto industry,” Zheng said. “Though it might take some time to play out
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