Analyst Backs Bitcoin Price to $57K Amid ETF Speculation as BTC ETF Token Presale Hits $1.8M

Bitcoin may reach $57K due to pending Bitcoin spot ETF approvals, according to Markus Thielen, Head of Research. The analyst predicted that Bitcoin may move 10%-20% higher shortly after the Bitcoin ETF approvals.

Meanwhile, analysts are backing Bitcoin ETF Token to experience a parabolic pump after its IEO. It has just hit $1.8 million in its presale, stirring excitement about its launch.

Markus Thielen Predicts $25 Billion Inflows From Precious Metals to Bitcoin ETFs

In a recent interview with Yahoo Finance, analyst Markus Thielen speculated that liquidity inflows from precious metals markets to Bitcoin ETFs could amount to $25 billion. He then calculated that these inflows may create a 4% price impact per $1 billion, pushing the Bitcoin price to $57K shortly after the ETF approvals.

“There’s around $120 billion US dollars in precious metals ETFs in the US, so that means in gold and in silver, and if you just move 10-20% of those and shift them over into Bitcoin, you have certainly sort of something in the range of like $25 billion of inflow,” Thielen said. “And we calculated this might have an impact of every $1 billion dollars of 4% impact on the price, so we might actually see kind of a price towards $57,000.”

The analyst also stated there is a “coordinated marketing effort” to bring Bitcoin’s price higher, with Blackrock CEO Larry Fink regularly appearing on TV and praising the asset.

However, before providing a prediction, Markus provided a more generalized outlook on the Bitcoin ETF landscape, comparing assets under management (AUM) of interested parties to the current Bitcoin market cap.

He noted that some interested institutions manage $5 trillion or even more, so dedicating even 1% of their asset allocation could result in $50 billion of new Bitcoin liquidity. Yet, Markus Thielen is not the only excited analyst in this regard.

Blockchain analytics firm CryptoQuant estimates the crypto market could see $1 trillion in new liquidity should the SEC approve Bitcoin spot ETFs. In an October report, CryptoQuant said up to $155 billion could enter the Bitcoin market cap alone if the ETF issuers allocated 1% of their assets to the ETFs.

Ultimately, this has generated tremendous excitement, with Bitcoin’s price already climbing as traders “front run” the ETF approvals.

While this could indicate a “sell the news event,” the ETF liquidity inflows and the supply shock from the upcoming Bitcoin halving mean the momentum will likely continue following these approvals, as highlighted by analysts.

Another crypto that would likely benefit from approval is Bitcoin ETF Token, a newly launched presale harnessing the unprecedented excitement.

Could Bitcoin ETF Token Also Surge?

Bitcoin ETF Token offers a unique blend of robust tokenomics and solid utility. Meanwhile, it also boasts a unique ability to capture the industry’s most anticipated trend.

The project features three essential components, each attributing to significant price potential.

First and most important is its burn mechanism. The team has allocated 25% of tokens to be burned between five key Bitcoin ETF milestones, creating a sense of scarcity while excitement is highest. It also has a 5% burn tax on transactions, making the token deflationary and incentivizing long-term holding.

The next feature is staking, offering holders a way to generate passive rewards. Currently, it provides a 133% APY, but buyers must act fast because this decreases as the staking pool grows.

Lastly, the project offers a news feed, pulling the latest Bitcoin updates and events from around the web into one dashboard. This will help foster an active and engaged community.

Bitcoin ETF Token is undergoing a presale, raising over $1.8 million in just three weeks. Yet, analysts back it for even more explosive upside once it launches on exchanges, with Jacob Bury predicting a 10x.

Meanwhile, YouTuber Crypto Boy speculates it could 100x.

Visit Bitcoin ETF Token Presale

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

The project in the above article is not related to Bitcoin or to a Bitcoin ETF. It’s a completely different token.

Readers are also advised to read CryptoPotato’s full disclaimer.

Source link

About The Author

Scroll to Top