bitcoin Price Prediction
Markus Thielen, Head of Research at DeFiResearch.com, predicts that pending bitcoin spot ETF approvals could lead to a $57K bitcoin price. Thielen anticipates a 10%-20% increase shortly after the ETF approvals.
bitcoin ETF Token Expected to Surge
There is speculation that the bitcoin ETF Token will experience a parabolic pump after its IEO due to hitting $1.8 million in its presale.
Analyst Predicts $25 Billion Inflows
In a recent interview with Yahoo Finance, Thielen suggested that inflows from precious metals markets to bitcoin ETFs could reach $25 billion, leading to a 4% price impact per $1 billion. This could push the bitcoin price to $57K following the ETF approvals.
He mentioned a “coordinated marketing effort” to raise bitcoin‘s price, with Blackrock CEO Larry Fink’s support.
The analyst compared the assets under management of interested parties to the current bitcoin market cap. He noted that institutions managing trillions can allocate a small percentage to bitcoin, resulting in billions of new bitcoin liquidity.
Blockchain analytics firm CryptoQuant estimates the crypto market could see $1 trillion in new liquidity following SEC approval of bitcoin spot ETFs. This could result in massive excitement and a potential surge in bitcoin‘s price.
Potential for bitcoin ETF Token
bitcoin ETF Token offers unique tokenomics and is expected to capture industry trends. The project features a burn mechanism, staking, and a news feed to foster an active and engaged community.
The project is currently undergoing a presale and has raised over $1.8 million. Analysts predict explosive upside once it launches on exchanges.
### News source: cryptopotato.com