L2 Tech to Fuel Bitcoin (BTC) Price Rise
Bitcoin's price target has been raised by analysts due to the surge in tech innovation, with Layer 2 (L2) solutions being closely watched for their transformative impact on scalability, security, and decentralization. Muneeb Ali, CEO of Trust Machines, believes that L2 technologies will revolutionize scalability problems and improve the efficiency of BTC transactions. The development of the Ordinals protocol, BRC-20 tokens, and BitVM smart contracts have also contributed to the revival of the free Bitcoin economy, with Elastos' BTC Oracle and BeL2 expanding the use of Bitcoin in DeFi protocols and beyond. The market response to these technological advances has been overwhelmingly positive, with Bernstein analysts increasing their forecast price of Bitcoin to $90,000 by the end of the year.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Circle IPO Is a Big Opportunity to Enter Crypto: Expert’s Advice
XRP is the Solution to Rising US Debt: Black Swan Capitalist
For context, the United States has $36.2 trillion in its national debt, and this amount is growing by about $1 trillion every three months.
Gaming Tokens Capture Market Attention: Top 4 Gaming Projects Lead Social Buzz with Shares
Analyst Debates Over $21 and $152 XRP ATH Target Possibilities This Bull Cycle, How Far Will Ripple Go?
Trending news
MoreCrypto prices
More
