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 generated great excitement in the cryptocurrency market. These approvals are expected to create a significant increase in the value of cryptocurrencies by providing new capital inflows from asset managers and investors. Analyst Willy Woo’s Evaluations CMCC Crest co-founder and analyst Willy Woo predicts a significant rise in the potential price of Bitcoin following the approvals. According to Woo, if the ETFs attract capital at their full capacity, the value of Bitcoin could rise from $91,000 to $650,000. However, he cannot provide a precise timeline on when this capital inflow might occur. Potential Market Assessments Woo calculates that if asset managers with a total managed asset size of $100 trillion typically allocate 2% of their capital to Bitcoin, it could result in an influx of approximately $2 trillion. This could increase […]

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 generated great excitement in the cryptocurrency market. These approvals are expected to create a significant increase in the value of cryptocurrencies by providing new capital inflows from asset managers and investors.

Analyst Willy Woo’s Evaluations

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

Potential Market Assessments

Woo calculates that if asset managers with a total managed asset size of $100 trillion typically allocate 2% of their capital to Bitcoin, it could result in an influx of approximately $2 trillion. This could increase the current investment value measurable on-chain for Bitcoin to $2.56 trillion. Additionally, assessments based on the MVRV ratio indicate that the market value of Bitcoin could reach $12.8 trillion.

Helpful Information

ETF approvals may accelerate capital inflow 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 strategic decision-making processes.

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

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