Approval of Bitcoin ETFs and Price Predictions

The approval of spot ETFs for Bitcoin and Ethereum by the Securities and Futures Commission (SFC) of Hong Kong has created a great deal of excitement in the cryptocurrency market. These approvals have created an expectation of a significant increase in the value of cryptocurrencies, as asset managers and investors seek to provide new capital inflows. Analyst Willy Woo’s Evaluations Willy Woo, co-founder of CMCC Crest and analyst, anticipates a significant increase in the potential price of Bitcoin following the approvals. According to Woo, if ETFs attract capital at full capacity, the value of Bitcoin could rise from $91,000 to $650,000. However, he cannot provide a clear timeline for this capital inflow. Potential Market Evaluations Woo estimates that if asset managers with assets under management of $100 trillion typically allocate 2% of their capital to Bitcoin, it could result in an inflow of approximately $2 trillion. This could increase the […]

Approval of Bitcoin ETFs and Price Predictions

The approval of spot ETFs for Bitcoin and Ethereum by the Securities and Futures Commission (SFC) of Hong Kong has created a great deal of excitement in the cryptocurrency market. These approvals have created an expectation of a significant increase in the value of cryptocurrencies, as asset managers and investors seek to provide new capital inflows.

Analyst Willy Woo’s Evaluations

Willy Woo, co-founder of CMCC Crest and analyst, anticipates a significant increase in the potential price of Bitcoin following the approvals. According to Woo, if ETFs attract capital at full capacity, the value of Bitcoin could rise from $91,000 to $650,000. However, he cannot provide a clear timeline for this capital inflow.

Potential Market Evaluations

Woo estimates that if asset managers with assets under management of $100 trillion typically allocate 2% of their capital to Bitcoin, it could result in an inflow of approximately $2 trillion. This could increase the current on-chain measurement of investment in Bitcoin to $2.56 trillion. In addition, evaluations based on the MVRV ratio indicate that the market value of Bitcoin could reach $12.8 trillion.

Useful Information

ETF approvals have the potential to accelerate capital inflows for Bitcoin and Ethereum and increase investor interest.
Investment by asset managers in Bitcoin could significantly increase the cryptocurrency’s market capitalization.
The MVRV ratio can provide important information about market peaks and troughs and assist investors in making strategic decisions.

In conclusion, Hong Kong’s ETF approvals could be a significant turning point in the cryptocurrency market. This development could present new opportunities for both investors and asset managers, while the expected increase in the value of Bitcoin could trigger a new wave of investment in the financial markets.

how to buy crypto?
Related Posts

Token Lock Releases and the Market Impact of ID Token

News 1 month ago

The cryptocurrency ecosystem closely monitors token lock release events, especially with great attention. Within the next week, it is indicated that token lock releases worth approximately $45.80 million will take place. These events can significantly affect market fluctuations. Particularly, ID, the local token of the Space ID platform that provides domain services in blockchain networks, is one of the key tokens that investors keep an eye on. ID Token Lock Release The lock release of the ID token, which will show an increase in supply of approximately 4.29%, will take place on April 22 at 03:00. This event can affect the market value of the ID token and the interest of investors in this token. Currently, the token is trading at $0.849 level and investors are closely monitoring this process. ID Chart Analysis According to the four-hour chart analysis of the ID token, an exit from the falling channel formation […]

Analysis of XRP Coin on SEC Lawsuit and Market Impacts

News 1 month ago

The ongoing legal process with the SEC has been affecting the market evaluations of XRP coin. Lawyers are set to present their appeals on Monday. Experts indicate that the increase in circulation supply will make it difficult for XRP to reach its former highs. Nevertheless, the recent short-term recovery in its price is promising. Market Dynamics and Price Movements Following recent losses, XRP has risen by 5.55% to $0.53. While its losses were greater compared to other cryptocurrencies, it is currently showing signs of recovery. Legal evaluations, court documents, and other details may positively or negatively impact XRP’s price in the future. Throughout 2024, the market has been on the rise while XRP has been lagging behind other altcoins. It lost 15% this year, while Bitcoin showed a 35% increase. This underperformance of XRP has prevented its growth even in high-risk appetite days. Investor Interest and Expectations Some investors may […]

The Strong Structure of Cardano (ADA) Treasury and ADA Coin Price Predictions

News 1 month ago

Cardano’s (ADA) treasury holds 1.5 billion ADA, which accounts for more than 4% of the circulating supply and is worth around $720 million with the current market value. These funds in the treasury are used to support the ecosystem and finance new projects. The Cardano ecosystem aims to create a self-sustaining structure using this balance. Features of the Cardano Ecosystem Cardano has a decentralized structure and allows ADA owners to vote democratically. This structure strengthens decentralization and democratic governance. The funds in the treasury increase through network activity, and a portion of transaction fees and block rewards accumulate in the treasury. The community votes on the use of these funds to finance projects. However, despite the expansion of Cardano’s smart contract capabilities, the number of applications that attract a significant and large user base on the network remains insufficient. The Future of ADA Coin According to technical analysis expert Ali […]

0 Comment

Write a Comment

how to buy crypto?
  • USD
  • EUR
  • GBP
  • AUD
  • JPY
  • bitcoinBitcoin(BTC)
    $69,557.00-1.65%
  • ethereumEthereum(ETH)
    $3,691.03-2.49%
  • tetherTether(USDT)
    $1.00-0.08%
  • binancecoinBNB(BNB)
    $615.56-0.02%
  • solanaSolana(SOL)
    $179.28-0.15%
  • staked-etherLido Staked Ether(STETH)
    $3,686.80-2.47%
  • usd-coinUSDC(USDC)
    $1.00-0.02%
  • rippleXRP(XRP)
    $0.53-2.73%
  • dogecoinDogecoin(DOGE)
    $0.164095-3.78%
  • the-open-networkToncoin(TON)
    $6.26-2.11%
Random