Bitcoin

Impact

Spot

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/exploring-the-impact-of-new-etfs-on-bitcoin-prices/" data-wpel-link="internal">Exploring the Impact of New ETFs on Bitcoin Prices</a><br></p>
<p style="text-align: justify">Spot <a href="https://coin-turk.com/borsalardaki-bitcoin-arzi-dip-seviyelerde-bu-veriler-son-boga-kosusu-oncesi-goruldu" data-wpel-link="internal">Bitcoin</a> ETFs and spot <a href="https://coin-turk.com/son-dakika-yeni-kripto-para-etf-basvurusu-geldi" data-wpel-link="internal">Ethereum</a> ETFs recently approved by the Hong Kong Securities and Futures Commission (SFC) have sparked discussions within the crypto community about potential price increases.</p> 
<h2 style="text-align: justify" id="analyst-s-bitcoin-commentary">Analyst’s Bitcoin Commentary</h2> 
<p style="text-align: justify">Following the ETF news from Hong Kong, Willy Woo, co-founder and analyst at CMCC Crest, made a statement regarding the potential movement of <a href="https://en.coin-turk.com/bitcoin-ordinals-protocol-changing-code-system-a-proposal-from-the-founder/" data-wpel-link="internal">Bitcoin</a>‘s price.</p> 
<p style="text-align: justify">According to Woo, the new Bitcoin ETFs, based on statements from asset managers, could drive the price to a low of $91,000 and a peak of $650,000 once ETF investors fully deploy their capital.</p> 
<p style="text-align: justify">However, despite this prediction, Woo noted that it will take time for the capital inflow to complete, and he could not provide a definite timeline for when these predictions might materialize. Woo mentioned that after the capital distribution by asset managers is completed, Bitcoin could surpass the capitalization of gold.</p> 
<p style="text-align: justify">Woo’s predictions are based on the unprecedented growth witnessed shortly after the processing of spot Bitcoin ETFs in the US.</p> 
<h2 style="text-align: justify" id="bitcoin-price-outlook">Bitcoin Price Outlook</h2> 
<p style="text-align: justify">Woo, addressing the crypto community, roughly calculated the potential impact of ETF adoption on Bitcoin’s price.</p> 
<p style="text-align: justify">Starting his calculations considering the total capital of asset managers currently managing $100 trillion, a typical 2% allocation to Bitcoin (as seen at Fidelity) could mean an influx of $2 trillion into <a href="https://en.coin-turk.com/bitcoin-surpasses-43000-amidst-market-speculation-and-etf-hopes/" data-wpel-link="internal">BTC</a>.</p> 
<p style="text-align: justify">Currently, there is approximately $561,159,959 in investments in Bitcoin measurable on-chain. With the inclusion of capital from the ETFs, the total investment in Bitcoin could reach $2.56 trillion.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-340417" src="https://coin-turk.com/wp-content/uploads/2024/04/561-bitcoincoin-turk-com.png" alt="" width="441" height="225"></p> 
<p style="text-align: justify">Woo then drew attention to the Market Value to Realized Value (MVRV) ratio to calculate different market potential assets. Looking at the peaks of bull markets, the MVRV ratio is typically 5 times, while it is 0.7 times at the bottoms of bear markets.</p> 
<p style="text-align: justify">This calculation could mean values of $12.8 trillion and $1.8 trillion, indicating price levels per coin of $650,000 and $91,000, respectively.</p> 
<p style="text-align: justify">On the other hand, Woo mentioned that these predictions could also indicate a possible bottom level, while also noting that uncalculated entries and wallets have not been included in this account.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/exploring-the-impact-of-new-etfs-on-bitcoin-prices/" data-wpel-link="internal">Exploring the Impact of New ETFs on Bitcoin Prices</a></h5>

Exploring the Impact of New ETFs on Bitcoin Prices

Table of Contents

COINTURK NEWS

Other articles published on Apr 15, 2024

Geopolitical tensions prompt record high for PAX Gold as Bitcoin faces sharp decline

Newly Elected IRS Chief Mentioned a Rise in Crypto Tax Crimes

UK Sets Deadline for New Crypto Regulatory Framework

Crypto Miner Transfers 50 BTC After 14 Years of Dormancy

FET jumps 11%, RNDR soars 17% while NEAR lags: AI for the win?

IRS investigation chief expects uptick in crypto tax evasion this year

Join our free newsletter for daily crypto updates!