Bitcoin ETF

Bitcoin

Million

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<ul>
 <li>In recent analyses, crypto market participants are reconsidering how bullish the ETF narrative truly is for BTC price movement.</li>
 <li>Bitcoin, retraced to the lows of the week on the news but a swift recovery within the next 24 hours brought it back to approximately 18-month highs.</li>
 <li>Samson Mow suggested in his predictions targeting $1 million for Bitcoin after the approval result, also claiming that hodlers underestimated the amount.</li>
</ul>
<p><strong>While the predictions about the Bitcoin price have reached interesting levels, Samson Mow’s predictions targeting 1 million dollars attract attention.</strong></p>
<h2 id="strong-recent-price-predictions-for-bitcoin-strong"><strong>Recent Price Predictions for Bitcoin</strong></h2>
<p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-126524" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-27.webp?resize=696%2C392&amp;quality=70&amp;ssl=1" alt="bitcoin-btc" width="696" height="392" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-27.webp?w=1280&amp;quality=70&amp;ssl=1 1280w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-27.webp?resize=300%2C169&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-27.webp?resize=1024%2C576&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-27.webp?resize=768%2C432&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-27.webp?resize=150%2C84&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-27.webp?resize=696%2C392&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-27.webp?resize=1068%2C601&amp;quality=70&amp;ssl=1 1068w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></p>
<p>Despite the increasing excitement around the spot exchange-traded fund (ETF) for Bitcoin, it may not reclaim $40,000. In recent analyses, crypto market participants are reconsidering how bullish the ETF narrative truly is for BTC price movement.</p>
<p>The dust from the event involving a regulatory bombshell against Binance in the United States, which included a $4.3 billion fine and the removal of CEO Changpeng “CZ” Zhao, continues to settle. Bitcoin retracted to the lows of the week on the news, but a swift recovery within the next 24 hours brought it back to approximately 18-month highs.</p>
<p>At the same time, commentators have begun to suggest that the sanctions were a timely move to pave the way for the first US spot Bitcoin ETF. An approval that is expected to be a turning point for crypto – although uncertain – may come in early January 2024.</p>
<p>However, not everyone sees an immediate parabolic reaction in BTC price with an approval. Popular trader Bitcoin Jack expressed doubts in a recent post about whether BTC/USD can even reach $42,000: “I said 42k. Not sure anymore.”</p>
<p>Bitcoin Jack explained that the news of the week, including Binance and ETF, did not reshape market dynamics: “In the past few weeks, in addition to headlines that have generally been bullish (excluding Kraken), I expected any rumor of a decision between Binance and the US to push the price up more than it actually did (reasons: positive for ETF, less uncertainty for investors whether there is a solution, most of these are the same recycled pressure language as before.”</p>
<p>While introducing potential downside targets, he mentioned that support levels are “clean” and that $30,000 could still come into play: “Sometimes saying the opposite of what happens is also a sign. High timeframe supports are a clean buy level if they come. Here we potentially go to 42 or another stage, support around 29-31.”</p>
<h2 id="strong-a-spot-bitcoin-etf-and-1-million-btc-strong"><strong>A Spot Bitcoin ETF and $1 Million BTC</strong></h2>
<p>As reported by COINOTAG, other recent predictions, partly due to the remaining liquidity, indicate that $30,000 will serve as a retracement zone. In the latest poll by Filbfilb, the result was about evenly split on whether Bitcoin would hit $40,000 or $30,000 first.</p>
<p>At the opposite extreme of the ETF topic is Samson Mow, the CEO of Jan3. In an X post on November 23, Samson Mow suggested that Bitcoin would not only reach $1 million after the approval result, but also claimed that hodlers underestimated the amount:</p>
<blockquote>
 <p>“I noticed some Bitcoin enthusiasts who don’t think Bitcoin could reach $1,000,000 within a few days/weeks after ETF money starts flowing.”</p>
</blockquote>
<p>The post <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com/bitcoin-predictions-reach-interesting-dimensions-1-million-btc-after-etf-approval/">Bitcoin Predictions Reach Interesting Dimensions: $1 Million BTC After ETF Approval</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p>
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Bitcoin Predictions Reach Interesting Dimensions: $1 Million BTC After ETF Approval

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