Nic Carter, co-founder of Castle Island Ventures and Coin Metrics. Bitcoin He made a prediction about when the price might start to rise again.
Carter, who participated in an interview on the Bloomberg channel, thinks that a spot Bitcoin ETF to be approved in the USA will have an impact in a few months. According to Carter, he stated that they were selling due to taxes to be paid at the end of this year.
Carter also touched on ETF approval, the most talked about topic of recent days, and added that it was one of the biggest catalysts. According to the co-founder, the most important catalyst that brought the Bitcoin price from the mid-$20,000s to the current level of over $40,000 is this ETF itself. However, although a possible approval may create a short-term rise, he believes that the real impact will come later.
This is where I expect the price to develop, which is a medium-term prediction. That’s when I think you’ll see RIAs (registered investment advisors) and other financial institutions that previously couldn’t recommend Bitcoin to their clients will be able to do so with ETFs.
NEWS CONTINUES BELOWI think we’re going to see a marketing push from major ETF sponsors, some of the largest financial institutions in the world, and I think this thing is going to really explode going into 2024 and throughout 2024.