Crypto investors are awaiting Security & Exchange Commission (SEC) approval for a spot bitcoin ETF, which could unlock a surge of capital investment in the crypto space. However, this isn’t the first time that crypto news created a stir of hype around digital assets, but is this time truly different?
Markus Thielen, DeFiResearch.com Head of Research, joins Yahoo Finance to discuss what this ETF approval could mean for bitcoin and the crypto space, and why he feels that if approved, it could potentially reach a high price target.
“I think, to put it in numbers, there’s around $120 billion US dollars in precious metals ETFs in the US, so that means in gold and in silver, and if you just move 10-20% of those and shift them over into bitcoin you have certainly sort of something in the range of like $25 billion of inflow,” Thielen says. “And we calculated this might have an impact of every $1 billion dollars of 4% impact on the price , so we might actually see kind of a price towards $57,000.”
#crypto #bitcoin #youtube
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11 Comments
Buy Bitcoin
Buy “Sto Cazzo Coin”
Do your research people. BTC is not functional as a currency and has no real enterprise uses. BTC is too slow, too costly and will not scale. BTCs only value comes from mining and it is on a loosing track. Right now the energy cost eats up 50.27% of the returns. What happens in Apr. when it halves again? If the price is the same the energy cost would be 100.54% of your profits. Energy cost are increasing. Also way better crypto out. “Hedera Hbar”. It is adopted by some of the worlds largest companies and has done over 30.9 billion transactions. Over 192 million a day. Now doing over 2,221 per sec. Hedera is 200 million times less energy dependent than BTC. Hedera is doing more in 6 days than BTC has done in its 15 year life span.
African payments company Flutterwave is set to launch USD Coin (USDC) payment settlement in partnership with Hedera (Hbar) blockchain. This development was made public at the Africa Money and DeFi Summit West Africa in Accra, Ghana. Be smart: The USD Coin (UDSC) is a stablecoin pegged to the United States dollar.
Buying crapto and Bitcoin is a fool's errand. This rubbish is built on the greater fool theory. Talk about real investment like wholesome low debt, highly profitable equities, responsible bond investments and hard assets. It's unbecoming of someone wanting to be a credible financial news source to talk about this rubbish. Do better Yahoo Finance.
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Its quiet interesting how we reject the reality of our situation and expect to be able to observe it, control it and even change it. I used to be financially depressed until I read a book that made me realized that the secret to making a million is making better investments.
Personally i feel It's a fake rally with a very low
volume. We're in for a drop, once that drop is
finished, we will then have one of the greatest
short squeezes you've ever seen. Not a 2008
drop, not yet at least, the big crash is going
to come later. I only aim for short term solid
gains from market correction and I'd definitely
jump on the boat if T knew a thing or two about
day-trading. I'm just looking for the right moves
to grow and hedge my stagnant reserve of $470k
from inflation.
Who actually uses Bitcoin🙄.Bitcoin is a useless speculative asset. After the largest bag holder dumps Bitcoin, it will head to 25 to 30k.
It's the end… The top of bitcoin is in.
It's pretty funny that MSNBC will produce segments like this while not mentioning that Tether just minted $1B and immediately used it to run up the price of BTC. You guys ignore that and pretend like the BTC run is just normal investors buying in – which it's not. We can see the transactions happening on chain and it's the same handful of Tether wallets.