Bitcoin price prediction with the spot Bitcoin ETF approval
Bitcoin spot ETFs could impact Bitcoin's price similarly to gold ETFs' effect on gold. Using a 10x money multiplier from NYDIG's approach, a dollar in a Bitcoin ETF might boost Bitcoin's price tenfold. With potential AUM of $1-100 billion for these ETFs, the price of Bitcoin could be significantly affected.
The formula used is:
BTC price = ((1/FED reserve ratio) * ETF Inflow) + base price
Considering the Grayscale Bitcoin Trust's $30 billion cap, a Blackrock ETF could easily attract $100 billion, potentially raising Bitcoin's price to around $95,000.
The formula used is:
BTC price = ((1/FED reserve ratio) * ETF Inflow) + base price
Considering the Grayscale Bitcoin Trust's $30 billion cap, a Blackrock ETF could easily attract $100 billion, potentially raising Bitcoin's price to around $95,000.