BlackRock's ETF Launch Could Skyrocket Bitcoin Price To $180,000 Before 2024 Halving: Analyst
Portfolio Pulse from Benzinga Neuro
Investment research firm Fundstrat predicts that the potential launch of a Bitcoin ETF from BlackRock could drive Bitcoin's price to $180,000 before the scheduled halving in April 2024. The firm sees a 75% probability of a spot Bitcoin ETF being approved in the near term, which could attract new investors and generate increased demand for Bitcoin. Fundstrat also believes that Bitcoin ETFs could eventually surpass the precious metals ETF market, which currently holds nearly $230 billion in assets.
July 25, 2023 | 3:27 am
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POSITIVE IMPACT
BlackRock's potential launch of a Bitcoin ETF could significantly boost the price of Bitcoin and attract new investors, according to Fundstrat.
The potential launch of a Bitcoin ETF by BlackRock is expected to significantly boost the demand for Bitcoin, which could drive its price up. This could also attract new investors to the market, potentially leading to one of the biggest ETF launches on record.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The potential launch of a Bitcoin ETF from BlackRock could drive Bitcoin's price to $180,000 before the scheduled halving in April 2024, according to Fundstrat.
The potential launch of a Bitcoin ETF by BlackRock is expected to significantly boost the demand for Bitcoin, which could drive its price up. This could also attract new investors to the market, potentially leading to one of the biggest ETF launches on record.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100