After 2 years of a bear market we might be finally entering the bull zone with BTC at $34,000 and ETH at $1,800.
One of the factors for this sudden price increase in the past 2 weeks is the belief that Bitcoin ETF approval is around the corner. The deadline for that is January 2024 and it would cause a massive influx of institutional money.
However nothing is guaranteed here as previous Bitcoin ETFs applications were denied by SEC.
But this time it’s BlackRock. BlackRock has listed its bitcoin ETF on the Depository Trust & Clearing Corporation database with the ticker $IBTC which shows how serious they are about it. It’s more a matter when than if.
BlackRock is not the only one filing for ETF. There are 5 others too: the SEC also formally acknowledged applications from Bitwise, VanEck, WisdomTree, Fidelity and Invesco for similar spot bitcoin ETFs.
In this text we will see what people on CT or Crypto Twitter are saying.
Bitcoin Bulls on Twitter
Bitcoin Price Prediction Today
As of October 2023 it’s hard to predict how much higher the price will go. The macro economic conditions are still rough. On the other hand the global wealth measured by the size of middle class is growing, especially in Asia.
For sure 2024 will be a very interesting year for crypto market.
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