Bitcoin ETF

Bitcoin

Change

Narrative

<a href="https://en.coin-turk.com/bitcoins-meteoric-rise-the-tenth-largest-entity-in-the-world/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) has excited investors with the expectation that at least one spot Bitcoin ETF will be approved in the US. <a href="https://en.coin-turk.com/two-rising-altcoins-of-interest-to-turkish-crypto-investors-how-high-could-they-go/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto</a> analyst DonAlt suggests that if the US Securities and Exchange Commission (SEC) gives the green light to a spot Bitcoin exchange-traded fund (ETF), the largest cryptocurrency could revisit its record level in November 2021. The analyst expects the ETF approval to push Bitcoin into the range of $60,000 to $100,000.
Anonymous crypto analyst DonAlt, in a video published on the YouTube channel TechnicalRoundup, predicts that if a spot Bitcoin ETF is approved in the US, the value of Bitcoin could increase by over 100% from current levels. The analyst supports this expectation with the following comment:
<blockquote>
 If the ETF gets approved, I think $60,000 is a reasonable target. Of course, this is not a short-term target, but I believe this is where we will end up eventually. Bitcoin’s price will range between $60,000 as the bottom and $100,000 as the top.
</blockquote>
<img decoding="async" loading="lazy" class="aligncenter size-full wp-image-268627" src="https://coin-turk.com/wp-content/uploads/2023/10/Bitcoin-Spot-ETF.png" alt="" width="1264" height="675">
<h2 style="text-align: justify" id="strong-could-change-the-narrative-completely-strong">Could Change the Narrative Completely</h2>
DonAlt also discussed the impact of the approval of a spot Bitcoin ETF on the overall crypto market. Emphasizing that the ETF approval would trigger a strong change in the narrative, he stated the following:
<blockquote>
 The approval of the ETF will lead to a strong fundamental change in the market narrative. An ETF approval will be a kind of continuation signal for the crypto market. This continuation signal from the US government will bring more legitimacy to the crypto market.
</blockquote>
According to DonAlt, it is not possible for Bitcoin to return to its November 2022 lows unless a scenario where the world’s largest crypto exchange, <a href="https://en.coin-turk.com/binance-us-ceo-resigns-amidst-regulatory-scrutiny-and-job-cuts/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a>, collapses:
<blockquote>
 If you don’t think Binance will collapse, I don’t think Bitcoin will return to the $16,000 levels. If Binance doesn’t collapse, the likelihood of a return to $16,000 is very low. However, if Binance collapses, there may be buying opportunities at levels around $12,000. I believe this will be the maximum bottom level and I predict it will not go lower.
</blockquote> Continue Reading: <a href="https://en.coin-turk.com/bitcoin-could-settle-in-the-60000-100000-range/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/bitcoin-could-settle-in-the-60000-100000-range/</a>

Bitcoin Could Settle in the $60,000 – $100,000 Range

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