Bloomberg Senior ETF Analyst Eric Balchunas said parabolic rises could be seen in Bitcoin (BTC).
In an interview with The Block, Eric Balchunas talked about the current situation of Bitcoin and possible future price movements. of the USA spot Bticoin exchange traded funds (ETF) given its approval and will take place in April. Bitcoin halving He stated that it could push the price into an unstoppable rise.
On the other hand, futures transactions current funding rates while expressing that it is very high about a possible fix warned investors.
Thanks to spot Bitcoin ETFs only $7 billion volume for Bitcoin in 1 month The experienced name stated that this could increase exponentially in the future. As a result of the increasing demand Bitcoin, an asset with limited supply inevitably in particular rise He argued that he would bring:
Since it’s an asset with limited supply and there aren’t a lot of people trading it – many people are just holding it – the volatility on it is pretty small. The more demand comes from ETFs, the more free float is affected. The more free float is affected, the more the price increases, which creates more demand. You may have an upward spiral that continues for a while.