"Stablecoins are usurping part of the role that we thought Bitcoin would play,"
"Given what's happening with stablecoins, we could take maybe $300,000 off that bullish case."
"Bitcoin is still strengthening its role as a global store of value, but in the payment area stablecoins are becoming a more practical means,"
Stablecoins are increasingly serving as digital dollars for payments and remittances, taking on functions previously expected for Bitcoin. ARK Invest reduced its 2030 Bitcoin price target from $1.5 million to $1.2 million, removing approximately $300,000 from its bullish case. The shift indicates Bitcoin evolving more toward a store-of-value role, supported by its decentralized network and limited supply. Galaxy Digital lowered its year-end target from $185,000 to $120,000, citing whale selling, rotations into assets like gold and AI, and leveraged liquidations. JPMorgan projects a possible rise to $170,000 over six to twelve months as futures leverage resets. Bitcoin recently fell roughly 19% from an early-October peak above $126,000.
Read at Bitcoin Magazine
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