In the world of cryptocurrencies, various predictions are often made about the future of Bitcoin, and these predictions often make a big impact on the market. A widely followed crypto analyst has predicted that Bitcoin could reach a six-figure price in the coming months. However, it is very difficult to say anything definitive about whether these predictions will come true.
The anonymous host of the InvestAnswers YouTube channel made a very ambitious prediction. He noted that following the approval of spot Bitcoin exchange-traded funds (ETFs), Bitcoin could rise rapidly. In particular, he highlighted the impact that the approval of ETFs would have on institutional investors. He argued that institutional investors’ allocation to ETFs is currently just a “little allocation play.” However, he suggested that this situation may change soon and institutional investors may direct larger amounts of money into Bitcoin ETFs.
Bitcoin’s price could rise very quickly as institutional investors start directing more money into Bitcoin ETFs, crypto analysts predict. In fact, the presenter claims that Bitcoin’s price could skyrocket by as much as 282% from current levels. This prediction suggests that Bitcoin’s price could rise to between $200,000 and $250,000.
According to the InvestAnswers host, Bitcoin is also on the verge of witnessing a serious decline in supply. This is a factor that can push the price even higher:
“I raised my reasonable price target for this bull run from $150,000 to around $170,000 if ETF consumption continues. Now, when we get into a supply crunch, things can get really crazy and that means no one is selling. And there will always be people who bought Bitcoin at $1,000, $3,000, and $10,000… They will sell a piece to make some money. “This is not going to satisfy the appetite of these big institutions that are coming in.”
The analyst also noted that the reasonable price target could be reached sooner than the 18 months it takes for Bitcoin to reach a new all-time high post-halving.
“I realized that everything was happening much earlier, much faster, which means the 18 months could be brought forward a bit until early summer 2025…
So the target of $170,000 is approximately mid-2025.”
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