Bitcoin Following the approval of their ETFs, the price is expected to move towards $600,000 if the companies’ expectations come true.
There has also been positive movement in the price of Bitcoin since the launch of spot BTC ETFs in the US. The funds recorded net inflows of over $5 billion, with an average of $425 million added in the last five days alone. This increased expectations that the price could rise further if inflows continued.
Let’s try something before the #Bitcoin ETF flow data comes out for today.
This is going to be an approximate, but we can try guessing.
NEWS CONTINUES BELOWThe open was at $48,313.
We’re high at $50,333.
NEWS CONTINUES BELOWSo a $2,020 price appreciation and a $42 BILLION market cap increase.
Assuming an 80-105x…
— British HODL ❤️🔥🐂❤️🔥 (@BritishHodl) February 12, 2024
Analysts calculated that every $1 billion inflow into ETFs contributed $2,900 to the price of Bitcoin. This, combined with the expectation of $150 billion in ETF inflows, was an important detail that increased speculation.
Ric Edelman, founder of the Digital Assets Financial Professionals Council (DAC FP), expects ETFs to reach this entry level before the end of 2025.
Overall, independent financial advisors manage approximately $8 trillion in assets, and a potential 2% and expected allocation would bring total inflows into BTC ETFs to approximately $160 billion, impacting the $150 billion estimate.
As we reported as Koinfinans.com, if these expectations and ratios are correct, the price has the potential to jump up to 600,000 dollars. Its market value will reach 11.7 trillion dollars, very close to gold. However, there is no guarantee that the entries and rates will continue like this.
Source : The Crypto Basic