Fundstrat has suggested that if the spot Bitcoin exchange-traded fund (ETF) application made by BlackRock is approved, the price of BTC could rise to $ 180,000.
A report submitted on Monday, July 24 by Fundstrat, a research firm that serves institutional investors, has excited crypto investors. Investment research company, giant actor of the financial world BlackRock In case of approval of the ETF application made by 180 thousand dollars pointed. If the date indicated by the company for this price is April 2024It was the period before the Bitcoin halving that will take place in .
In the report submitted by the company, the average daily demand in Bitcoin 25 million dollars While reminding that the ETF application is accepted, it was stated that these balances will change. In a scenario where the investment firm is approved, the daily transaction demand for Bitcoin 100 million dollars stressed that it could increase
This situation daily supply demand balance It was stated that Bitcoin would turn it in favor and create a serious rise in price:
A possible Bitcoin ETF launch will increase daily demand to $125 million, while daily supply will be limited to just $25 million. This equilibrium change in daily supply and demand will result in a rise in price.
Head of digital asset strategy at Fundstrat Sean Farrell In a recent statement, he stated that his spot Bitcoin ETF application is likely to be approved. 75% as foreseen. The following statements were included between the lines of the statement made by Farrell:
We predict that a Bitcoin ETF will attract new investors and create more demand for Bitcoin. The Bitcoin ETF could become a more than $300 billion category by the end of the day.