Bitcoin Could Reach $50,000 To $55,000 By Q1 2024 If This Happens: Former FTX US President
Portfolio Pulse from Khyathi Dalal
Brett Harrison, former president of FTX US, predicts Bitcoin could reach $50,000 to $55,000 by Q1 2024 if a spot Bitcoin ETF is approved. He doesn't foresee six-figure prices until late 2024 or early 2025. Harrison's views are based on the significant inflows seen when a Bitcoin Futures ETF was listed, expecting even higher records for a spot Bitcoin ETF. He expressed frustration with the lack of crypto regulations and believes the potential of a Bitcoin ETF approval hasn't been fully priced in. Harrison is currently a co-founder at Architect.xyz, a DeFi platform.
December 06, 2023 | 9:41 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Brett Harrison's prediction of Bitcoin reaching $50,000 to $55,000 by Q1 2024 is contingent on the approval of a spot Bitcoin ETF. His past experience with ETF inflows suggests a positive market reaction if such an ETF is approved.
The prediction is based on historical ETF inflow data, which indicates a potential increase in demand for Bitcoin if a spot ETF is approved. This could lead to a bullish short-term impact on Bitcoin's price. However, the prediction is speculative and hinges on regulatory approval, which is uncertain.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100