In response, Hayes noted that he would remain consistent, aligning with previous projections despite current market realities. According to him, Bitcoin could soar to $250,000 by the end of this year, while Ethereum may reach a price of $10,000 within the same timeframe.
Hoffman pointed out the projected scale of the Ethereum outlook and questioned if Hayes believes it is possible within the next two and a half months. Hayes answered affirmatively. The podcast host then presented the same question to Tom Lee, with Lee revealing that their EOY target is $200,000 to $250,000 for Bitcoin and $10,000 to $12,000 for Ethereum.
While Hoffman noted that the assets may have little time to reach these goals, which he suggests could represent blow-off top goals, Lee and Hayes maintained their projections.
$XRP Price if $BTC Hits $250,000 and $ETH Claims $12,000
Notably, if these predictions do play out, the impact on the broader crypto market could be immense. Specifically, Bitcoin, which holds a market cap of $2.22 trillion, has a market dominance of 59.5%. Meanwhile, Ethereum, with a market cap of $486 billion, boasts a dominance of 13.01%.
If $BTC hits $250,000, its market cap would reach $4.92 trillion. Also, if $ETH claims the $12,000 mark, its market cap would hit $1.448 trillion. If Bitcoin maintains its market dominance of 59.5% at that valuation, the broader crypto market will have a market cap of $8.27 trillion. Interestingly, at the $1.448 trillion valuation, $ETH’s dominance will have risen to 17.5%.
Meanwhile, $XRP, which currently has a market cap of $144.8 billion, holds a dominance rate of 3.89% in the market. If $XRP retains this dominance when the broader market cap reaches $8.27 trillion, its market cap would rise to about $321.7 billion. Considering a circulating supply of 60 billion tokens, this valuation could translate to a price of $5.36 for $XRP by year-end.