Bitcoin Spot ETFs have been approved, and crypto guru PlanB, probably the best-known BTC analyst in the industry, is back with a new price forecast. It’s quite something, BTC price should increase by 1,000%. Should you still buy Bitcoin now?
Where will Bitcoin be in 5 years?
The crypto industry currently only knows one topic, investors and analysts are in raptures: The US Securities and Exchange Commission (SEC) has approved eleven BTC ETFs and will allow US investors to invest in the BTC ETF of their choice from 3:30 p.m. German time. Top trader Michael van de Poppe writes to his more than 969,000 followers on Twitter (now X):
Congratulations,
This ETF Approval for #Bitcoin means that #Bitcoin won't go away. It's legitimacy that's required for global adoption.
Additionally, #Ethereum ecosystem taking off heavily. That's the ride for the coming 1-2 months.
— Michaël van de Poppe (@CryptoMichNL) January 11, 2024
US journalist and BTC advocate Max Keizer even predicts a massive capital rotation from gold ETFs towards Bitcoin ETFs:
For lots of investors who’ve been sitting on a dead money Gold ETF for 10 yrs, tomorrow they can swap out for a ‘Fastest horse in the race’ #Bitcoin ETF
And they will . . .
— Max Keiser (@maxkeiser) January 11, 2024
In fact, many investors are currently looking at the launch of Bitcoin ETFs and asking themselves: What does this development mean for the BTC price? How much capital flowing into Bitcoin ETFs could impact the price of the cryptocurrency?
Estimates vary widely, but they all have one thing in common: it starts at $100,000 per BTC. Standard Chartered Bank, for example, expects a capital inflow of up to $100 billion for Bitcoin ETFs in 2024 alone, which could drive the BTC price up to $200,000. BTC expert Samson Mow comments: The price forecast is set too low. A much more bullish one comes from crypto guru PlanB.
Standard Charter expects $50-100B inflows into the #Bitcoin ETFs this year. They are working backwards from their (too low) price prediction, but still a data point and good conservative estimate on interest. pic.twitter.com/L2sse3YJ9H
— Samson Mow (@Excellion) January 8, 2024
Bitcoin forecast PlanB 2024: $100k – just the beginning!
The Dutchman is still considered the best-known BTC analyst of all, with more than 1.9 million people following him on Twitter. He is now writing to them in a current Bitcoin forecast about how high he thinks BTC can rise. His Bitcoin prediction for 2024:
I expect $55k bitcoin at halving, $100k in 2024, $532k in 2025
From the current BTC price of $46,000 to up to $532,000 – that corresponds to a sensational return of 1,056%! The forecast is not even one of the overly optimistic predictions – they see BTC at at least a million dollars, serious calculations even consider 5 to 10 million dollars to be possible.
Bitcoin: Forecast sees price at $10 million
Bitcoin influencer Vivek, for example, quotes BTC legend Hal Finney:
You think 1 #Bitcoin = $1 Million is Crazy?
Meet Hal,
A week after #Bitcoin went live in 2009, predicting $10 Million.IN FUCKING 2009… WHAT A LEGEND! pic.twitter.com/queQLVyW8I
— Vivek⚡️ (@Vivek4real_) January 8, 2024
In short: Everything seems possible again for BTC. Many forecasts currently expect a success story with a parabolic price trend.
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