Bitcoin’s price is poised for an upcoming rally this year, and the best scenario can take the asset to above $100,000 for the first time ever, said the CEO of CryptoQuant – Ki Young Ju.
To do so, though, certain developments have to transpire, which are mostly related to the recently approved spot Bitcoin ETFs in the United States.
ETFs Behind BTC’s Upcoming Rally?
Ever since the entire crypto community and a bigger part of the traditional financial world started realizing that the SEC will inevitably approve spot Bitcoin ETFs sooner rather than later, experts speculated on whether these developments will be a sell-the-news event. That turned out to be true as BTC slumped by over ten grand in the first two weeks of ETF trading in January.
While there were debates on the immediate consequences of BTC’s price, most were quite bullish on the long-term effects. CryptoQuant’s CEO also seems determined that the cryptocurrency’s price will rise this year, mainly driven by the infl
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