- The entire crypto community is eagerly awaiting the approval of Bitcoin Spot ETF applications, and some companies have shared their price predictions for Bitcoin if the applications are approved.
- Analysis provider and on-chain data platform Cryptoquant was more optimistic about the price and estimated a range between $50,000 and $73,000.
- The bank predicted that the Bitcoin price could reach $50,000 by the end of 2023 and rise even further in the coming year, reaching $120,000 by the end of 2024.
To what levels could BTC price rise after Spot Bitcoin ETFs are approved? Financial companies share their predictions for the price of Bitcoin.
Where Will Spot Bitcoin ETFs Take the Price?
The entire crypto community is eagerly awaiting the approval of Bitcoin Spot ETF applications, and some companies have shared their price predictions for Bitcoin if the applications are approved. CoinMarketCap shared the predictions of five different financial companies that believe Bitcoin’s price could reach new highs.
Starting with the lowest price prediction, cryptocurrency financial services platform Matrixport stated that after the approval of a Bitcoin ETF, the Bitcoin price could range between $42,000 and $56,000. Matrixport commented on the approval of a Bitcoin ETF, saying, “Bitcoin’s price could reach $42,000 and could go up to $56,000 with $50 billion of funds from registered investment advisers.”
Analysis provider and on-chain data platform Cryptoquant was more optimistic about the price and estimated a range between $50,000 and $73,000. Cryptoquant shared in a detailed report on Bitcoin’s institutional adoption that they expect approximately $150 billion to enter the Bitcoin market if ETFs are approved. The predictions also indicated that Bitcoin could increase by 82% to 165% from the current level, resulting in a Bitcoin price ranging from $50,000 to $73,000.
One of the United Kingdom’s largest banks, Standard Chartered, made another prediction. The bank predicted that the Bitcoin price could reach $50,000 by the end of 2023 and rise even further in the coming year, reaching $120,000 by the end of 2024.
MCC and SkyBridge expect over 100K dollars
Morgan Creek Capital Management, an investment advisory firm, and Fundstrat, a financial institution, both predicted a higher price for Bitcoin, $150,000.
On the other hand, the highest Bitcoin price prediction came from SkyBridge Capital, reaching $250,000. The global investment company stated that Bitcoin could reach a value between $150,000 and $250,000 in the next cycle.
