- In an unprecedented development, investment advisor CrossBridge MD has recently predicted that Bitcoin’s price will skyrocket to $250,000 in the coming years.
- This statement comes in the midst of the upcoming inception of Bitcoin and Ethereum ETP trading in the UK, which has garnered noteworthy attention among crypto market participants.
- Bitcoin’s price noted a steep crash at press time, adding an intriguing layer to the ongoing market dynamics.
Discover why CrossBridge MD predicts Bitcoin will reach $250K in 3-5 years, driven by the launch of BTC and ETH ETPs in the UK. Stay informed on the latest crypto market trends and insights.
Bitcoin To Hit $250K In Light Of BTC & ETH ETP Kickoff In UK
In the wake of the FCA’s (Financial Conduct Authority) recent siding with the commencement of Bitcoin and Ethereum ETP trading in the U.K., starting May 28, the analyst remarks do not come as a surprise.
Intriguingly, as seen previously with the commencement of Bitcoin ETFs in the U.S., BTC’s price skyrocketed to unprecedented levels, hitting new all-time highs. Although this upward momentum was substantially bolstered by the halving-induced optimism, the massive money inflow brought into BTC by ETF trading fueled immense optimism globally.
ETPs and Market Anticipation
Similarly, as the BTC and ETH ETPs prepare to make their debut on the London Stock Exchange, the crypto market is brimming with anticipation. The launch of WisdomTree Bitcoin ETP and WisdomTree Ethereum ETP, the first of their kind in the UK, on May 28 is expected to trigger significant market movements. This development, coupled with the recent surge in Bitcoin’s value, presents an intriguing scenario for crypto enthusiasts and investors.
However, it’s worth noting that these ETPs’ trading is to be facilitated only to professional and institutional investors, as retail customers trading crypto derivatives in the U.K. faced a ban in 2021.
BTC Sees $37.95M Liquidations, Price Drops
Meanwhile, Bitcoin’s price action illustrated riveting turns today, with the token trading in both red and green territories. While writing, Bitcoin’s price took a steep plunge, dipping down to the $68K mark.
BTC is currently at $67,797, down 3.47% over the past day. Its 24-hour lows and highs are $67,626.26 and $70,442 respectively.
Coinglass data illustrated massive BTC liquidations in the past 24 hours, worth $37.95 million. This could potentially be driving Bitcoin’s sudden crash to $68K, underscoring the crypto realm’s volatility. Nonetheless, long-run prospects continue to shine with optimism primarily attributable to the halving frenzy.
Conclusion
In conclusion, the prediction by CrossBridge MD that Bitcoin could reach $250,000 in the next 3-5 years is bolstered by the upcoming launch of BTC and ETH ETPs in the UK. While the market remains volatile with significant liquidations, the long-term outlook driven by institutional interest and regulatory advancements continues to foster optimism. Investors should stay informed and consider these developments when making investment decisions.
