Bitcoin may reach $57K due to pending Bitcoin spot ETF approvals, according to Markus Thielen, DeFiResearch.com Head of Research. The analyst predicted that Bitcoin may move 10%-20% higher shortly after the Bitcoin ETF approvals.
Meanwhile, analysts are backing Bitcoin ETF Token to experience a parabolic pump after its IEO. It has just hit $1.8 million in its presale, stirring excitement about its launch.
Markus Thielen Predicts $25 Billion Inflows From Precious Metals to Bitcoin ETFs
In a recent interview with Yahoo Finance, analyst Markus Thielen speculated that liquidity inflows from precious metals markets to Bitcoin ETFs could amount to $25 billion. He then calculated that these inflows may create a 4% price impact per $1 billion, pushing the Bitcoin price to $57K shortly after the ETF approvals.
“There’s around $120 billion US dollars in precious metals ETFs in the US, so that means in gold and in silver, and if you just move 10-20% of those and shift them over into Bitcoin,
We współpracy z: https://cryptopotato.com/analyst-backs-bitcoin-price-to-57k-amid-etf-speculation-as-btc-etf-token-presale-hits-1-8m/
