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Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: sirty143 on January 04, 2024, 09:10:24 AM

Title: Spot ETF Approvals Will See BTC Value Rising to $50,000 in January — Matrixport
Post by: sirty143 on January 04, 2024, 09:10:24 AM
Spot ETF Approvals Will See BTC Value Rising to $50,000 in January — Matrixport

(https://i.imgur.com/U62QaoKm.jpg)

The expected approval of spot bitcoin exchange-traded funds (ETFs) applications by the U.S. Securities and Exchange Commission will see the top crypto asset’s price jumping to $50,000 in January, combined with bitcoin halving, will likely see the price of BTC rising to $125,000. See more for yourself here (https://news.bitcoin.com/spot-etf-approvals-will-see-btc-value-rising-to-50000-in-january-matrixport).

Your opinion is greatly appreciated.
Title: Re: Spot ETF Approvals Will See BTC Value Rising to $50,000 in January — Matrixport
Post by: Tribalchief on January 04, 2024, 07:28:13 PM
With today, the 4th of January, almost done, we are barely less than 6 days away from the first approval. Speculations and anticipation have been contributing effortlessly to the recent impressive prices we've been seeing. Sadly, a bad speculation broke out yesterday, suggesting that none of the ETFs might be approved. This is certainly not confirmed, but we will look forward to the first event on the 10th.

I strongly believe that the price of Bitcoin might hit the $50K mark, considering the recent rise and fall in price, ranging around $42K-$45K. However, things might also go the other way, as we are all accustomed to being left in shock by the unusual changes in the crypto space. As for the upcoming halving event, various people have made their predictions and likely have expectations for what to see. I think the $100K mark aligns with my expectations for this bull run.
Title: Re: Spot ETF Approvals Will See BTC Value Rising to $50,000 in January — Matrixport
Post by: joniboini on January 06, 2024, 05:49:40 AM
Quote from: Tribalchief on January 04, 2024, 07:28:13 PM
I think the $100K mark aligns with my expectations for this bull run.
Funnily enough, I remember seeing the same numbers on the previous bullrun. Heck, even in 2017 I saw some people claiming that $100k is their target. I'm not sure if any of them are around by now, but the changes in fundamentals are greatly different, and right now is probably the better time to bet if Bitcoin is going to get past $50k or not.

I remain skeptical though. I'm more optimistic about post-halving instead of any ETF being approved. The government or any big players can easily influence the market with it, while halving is always going to happen regardless of what they're trying to do. So if we have any chance of shooting past $100k, the reason is likely due to an increase in scarcity instead of ETF imo.
Title: Re: Spot ETF Approvals Will See BTC Value Rising to $50,000 in January — Matrixport
Post by: yhiaali3 on January 06, 2024, 10:35:57 AM
Quote from: Tribalchief on January 04, 2024, 07:28:13 PM
I strongly believe that the price of Bitcoin might hit the $50K mark, considering the recent rise and fall in price, ranging around $42K-$45K. However, things might also go the other way, as we are all accustomed to being left in shock by the unusual changes in the crypto space. As for the upcoming halving event, various people have made their predictions and likely have expectations for what to see. I think the $100K mark aligns with my expectations for this bull run.
Yes, I agree with you. Although I am optimistic, like everyone else, that the price of Bitcoin will reach at least 100K$ after the halving, I am also cautious in my expectations in order to avoid a shock in the event of the opposite.

The Bitcoin market is very volatile, and no one can predict prices accurately, and trends can change at any moment based on positive or negative news. This has happened several times before in the history of Bitcoin, and it is not unlikely that it will happen now as well, so caution is necessary despite optimism.