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.
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