The post Bitcoin Forecast: $1 Million in Sight Post Bitcoin ETF Approval – Expert Insights appeared on BitcoinEthereumNews.com.

As the year comes to a close, the crypto market experiences shifts in trading patterns and sentiment. Christmas has historically witnessed fluctuating moves in Bitcoin (BTC), swinging between bullish and bearish trends. In 2023, Bitcoin surged, surpassing a 100% increase by December’s end, primarily fueled by expectations around the spot Bitcoin ETF approval and the upcoming Bitcoin halving slated for April 2024. Currently, the market buzzes with anticipation for a potential Bitcoin Exchange-Traded Fund (ETF), intensified by two influential voices projecting a remarkable future for Bitcoin—a soaring trajectory toward the elusive $1 million mark. As we step into 2024, the stage is set, and all eyes are on Bitcoin’s journey in January. Are you ready for what’s in store for BTC? Analysts Predicting A predicts a bullish year for Bitcoin In a recent interview, Samson Mow, CEO of JAN3 has stirred the pot with a groundbreaking forecast: Bitcoin’s price could skyrocket to an astronomical $1 million. Mow’s conviction in this unprecedented surge hinges on a perfect storm of factors – supply, demand, and price shocks – triggered by the long-awaited ETF approval. Mow elaborated, “The approval of spot ETFs hitting a very limited supply of Bitcoin on exchanges with a torrent of money will lead to a supply shock multiplied by demand shock. That gives you a price shock.” Does Pal’s $5 million Bet Make Sense or Just Another Hype? Raoul Pal, Real Vision Co-Founder, Projects Bitcoin’s Rise to $500,000 – $1 Million Echoing Mow’s bullish sentiment, Raoul Pal delved into Bitcoin’s potential growth, estimating a soaring price range of $500,000 to a staggering $1 million by 2025. Pal emphasized Bitcoin’s high correlation with global liquidity trends, hailing it as the “fastest horse in the race” for risk-adjusted returns. Elaborating on Bitcoin’s outperformance against the S&P 500, Pal highlighted the…

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Filed under: News - @ January 1, 2024 8:20 am