Ash Crypto, a prominent figure in the crypto trading community, predicted that the US spot Bitcoin Exchange-Traded Funds (ETFs) could propel BTC’s price to $500,000.
Bitcoin To Follow Gold’s ETF Success Story
The rationale behind Ash Crypto’s forecast stems from a comparison with gold, whose market capitalization witnessed a significant surge after the introduction of its ETFs. Historically, gold’s market cap escalated from approximately $2 trillion before the ETFs to roughly $16 trillion over the following years.
Ash Crypto posits that with its finite supply and growing popularity, Bitcoin might not only replicate but potentially exceed gold’s post-ETF trajectory. Considering Bitcoin’s current market cap of around $840 billion, reaching even half of gold’s market cap would catapult BTC’s value to “$500,000 in the coming years.”
Bitcoin is going to $500k after the
Spot ETF is approval. Here is the
evidence –
When Gold ETF was approved, it’s
mcap was around $2 Tr
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