Bitcoin, Ethereum Stagnate, Dogecoin Surges: Expert Predicts Bitcoin's Return to $90K

The cryptocurrency market has witnessed a mixed performance in recent weeks, with Bitcoin (BTC) and Ethereum (ETH) trading in a sideways pattern while Dogecoin (DOGE) has surged amidst a bullish sentiment. As U.S. stocks hit new record highs, top analysts predict a return to form for the king of cryptocurrencies, Bitcoin, with a potential new high in the next 3-4 weeks and a year-end target of $90,000.

Bitcoin and Ethereum have been trading in a tight range, with Bitcoin hovering around the $65,000 mark and Ethereum fluctuating between $3,500 and $4,000. The sideways trend can be attributed to a combination of factors, including regulatory uncertainty, market sentiments, and speculative trading. However, institutional investors continue to show interest in the cryptocurrency space, with inflows into spot U.S. Bitcoin exchange-traded funds (ETFs) reaching record highs.

Dogecoin, on the other hand, has been on a tear, surging by over 10% in the past 24 hours. The meme-based cryptocurrency has benefited from social media buzz and speculations about further endorsements from Elon Musk. Musk's recent political involvement and donations have also contributed to Dogecoin's price surge, as investors anticipate a potential Trump victory in the upcoming U.S. presidential elections.

Analysts remain optimistic about Bitcoin's prospects, with many predicting a return to its all-time high in the coming weeks. Nicholas Sciberras, senior analyst at Collective Shift, anticipates Bitcoin to skyrocket to $233,000 as early as Q1 2025. Cathie Wood, CEO of Ark Invest, predicts Bitcoin could reach an astounding $1.48 million by 2030. Hal Finney, a Bitcoin pioneer, even predicted $22 million per Bitcoin by 2045.

As the cryptocurrency market continues to evolve, investors should remain vigilant and monitor the latest developments in regulation, institutional investments, and market sentiments. The potential catalysts that could drive Bitcoin and Ethereum out of their current sideways trends include technological advancements, increased adoption, and favorable regulatory environments.