{"id":564357,"date":"2023-12-07T12:30:08","date_gmt":"2023-12-07T12:30:08","guid":{"rendered":"https:\/\/wncen.com\/?p=564357"},"modified":"2024-06-11T08:32:01","modified_gmt":"2024-06-11T08:32:01","slug":"apollo-crypto-bitcoin-price-200000-this-cycle","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/apollo-crypto-bitcoin-price-200000-this-cycle\/","title":{"rendered":"Apollo Crypto Predicts Bitcoin Price Of $200,000 This Cycle, Here’s Why"},"content":{"rendered":"

Apollo Crypto, a renowned name in the field of cryptocurrency analysis, has recently released a comprehensive report predicting a significant surge in the Bitcoin price, potentially reaching as high as $200,000 in the current cycle. Authored by Henrik Andersson, the report<\/a> delves into various factors that could contribute to this remarkable growth.<\/p>\n

A pivotal aspect of the report is the anticipated approval<\/a> of the first spot Bitcoin Exchange-Traded Fund (ETF) in the United States. Eric Balchunas, the senior Bloomberg ETF analyst, is quoted saying<\/a>, “There is a 90% chance of an approval by January 10, 2024.” This development is seen as a significant driver for Bitcoin’s price increase.<\/p>\n

The report elaborates on the interest from prominent asset managers in Bitcoin spot ETFs, asserting, “In our view, it is likely that the SEC won\u2019t give preferential treatment to a single ETF issuer; therefore several of them are likely to get approval at the same time.”<\/p>\n

Bitcoin ETF Inflow Estimate And Multiplier Effect<\/h2>\n

A key element in Apollo Crypto’s analysis is the potential new money inflow into Bitcoin ETFs<\/a>. The report estimates this by considering the total size of US holdings of equities at $64.7 trillion.<\/p>\n

Related Reading: Bitcoin Poised For December Surge As Historical Patterns Suggest Strong Upside Ahead<\/a><\/div>\n

It assumes that 10% of these investors would allocate 1% to Bitcoin ETFs, leading to an estimated inflow of $65 billion. This number is cross-referenced with the total US ETF market size of $6.5 trillion, where Bitcoin ETFs are expected to capture 1%, aligning with the $65 billion inflow estimate.<\/p>\n

The concept of the ‘Bitcoin multiplier’ is also central to the report’s analysis. This refers to the effect of each dollar inflow on Bitcoin\u2019s market cap. The report cites the next BTC halving<\/a> in April 2024, which will reduce the new supply of BTC, as a factor that could increase the multiplier effect.<\/p>\n

Referring to a Bank of America report titled “Bitcoin\u2019s dirty little secrets,” Apollo Crypto notes, “For example, we estimate that a net inflow of just $93 million would result in price appreciation of 1%.” From this, they deduce a 114x multiplier effect as an upper bound but apply a more conservative estimate of 50x for their scenario.<\/p>\n

Related Reading: Bitcoin Bullish Fractal Returns: Analyst Predicts Another Leg-Up With Price Target<\/a><\/div>\n

Combining the inflow estimate and the multiplier effect, the report concludes that Bitcoin could reach $200,000 per coin in this cycle:<\/p>\n

Putting it all together leads us to believe that we could see $65 billion in inflow to Bitcoin ETFs in the coming cycle. Applying a 50x multiplier effect leads to an increased market cap of $3.25 trillion in which case we would see Bitcoin trading at $200,000 per coin. We realize this is a bold estimate with a lot of uncertainty.<\/strong><\/p><\/blockquote>\n

Flow-On Effect On Ethereum<\/h2>\n

The report doesn’t stop at Bitcoin. It also analyzes the performance relationship between Bitcoin and Ethereum during the last bull market, using a specified period from September 2020 to November 2021.<\/p>\n

During this phase, the report notes, “Bitcoin increased 4.8x while Ethereum increased 9.8x; Ethereum increased twice as much as Bitcoin during this time.” This historical data is crucial as it indicates that Ethereum tends to have a higher beta, or sensitivity, to Bitcoin’s market movements.<\/p>\n

Building on this relationship, the report projects that if Bitcoin’s price were to quintuple – as suggested in their forecast from $40,000 to $200,000 – then based on the past market behavior, Ethereum could potentially experience a parallel and more pronounced surge.<\/p>\n

The report estimates, “If the relationship holds for the coming cycle and Bitcoin increases 5x, then Ethereum would reach $22,000.”<\/p>\n

At press time, BTC traded at $43,371.<\/p>\n

\"Bitcoin
BTC price holds above the 0.5 Fib, 1-week chart | Source: BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image from Shutterstock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Apollo Crypto, a renowned name in the field of cryptocurrency analysis, has recently released a comprehensive report predicting a significant surge in the Bitcoin price, potentially reaching as high as $200,000 in the current cycle. Authored by Henrik Andersson, the report delves into various factors that could contribute to this remarkable growth. A pivotal aspect of the report is the anticipated approval of the first spot Bitcoin Exchange-Traded Fund (ETF) in the United States. Eric Balchunas, the senior Bloomberg ETF analyst, is quoted saying, “There is a 90% chance of an approval by January 10, 2024.” This development is seen as a significant driver for Bitcoin’s price increase. The report elaborates on the interest from prominent asset managers in Bitcoin spot ETFs, asserting, “In our view, it is likely that the SEC won\u2019t give preferential treatment to a single ETF issuer; therefore several of them are likely to get approval at the same time.” Bitcoin ETF Inflow Estimate And Multiplier Effect A key element in Apollo Crypto’s analysis is the potential new money inflow into Bitcoin ETFs. The report estimates this by considering the total size of US holdings of equities at $64.7 trillion. Related Reading: Bitcoin Poised For December Surge As Historical Patterns Suggest Strong Upside Ahead It assumes that 10% of these investors would allocate 1% to Bitcoin ETFs, leading to an estimated inflow of $65 billion. This number is cross-referenced with the total US ETF market size of $6.5 trillion, where Bitcoin ETFs are expected to capture 1%, aligning with the $65 billion inflow estimate. The concept of the ‘Bitcoin multiplier’ is also central to the report’s analysis. This refers to the effect of each dollar inflow on Bitcoin\u2019s market cap. The report cites the next BTC halving in April 2024, which will reduce the new supply of BTC, as a factor that could increase the multiplier effect. Referring to a Bank of America report titled “Bitcoin\u2019s dirty little secrets,” Apollo Crypto notes, “For example, we estimate that a net inflow of just $93 million would result in price appreciation of 1%.” From this, they deduce a 114x multiplier effect as an upper bound but apply a more conservative estimate of 50x for their scenario. Related Reading: Bitcoin Bullish Fractal Returns: Analyst Predicts Another Leg-Up With Price Target Combining the inflow estimate and the multiplier effect, the report concludes that Bitcoin could reach $200,000 per coin in this cycle: Putting it all together leads us to believe that we could see $65 billion in inflow to Bitcoin ETFs in the coming cycle. Applying a 50x multiplier effect leads to an increased market cap of $3.25 trillion in which case we would see Bitcoin trading at $200,000 per coin. We realize this is a bold estimate with a lot of uncertainty. Flow-On Effect On Ethereum The report doesn’t stop at Bitcoin. It also analyzes the performance relationship between Bitcoin and Ethereum during the last bull market, using a specified period from September 2020 to November 2021. During this phase, the report notes, “Bitcoin increased 4.8x while Ethereum increased 9.8x; Ethereum increased twice as much as Bitcoin during this time.” This historical data is crucial as it indicates that Ethereum tends to have a higher beta, or sensitivity, to Bitcoin’s market movements. Building on this relationship, the report projects that if Bitcoin’s price were to quintuple – as suggested in their forecast from $40,000 to $200,000 – then based on the past market behavior, Ethereum could potentially experience a parallel and more pronounced surge. The report estimates, “If the relationship holds for the coming cycle and Bitcoin increases 5x, then Ethereum would reach $22,000.” At press time, BTC traded at $43,371. Featured image from Shutterstock, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":564359,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,89806,679,6848,1119,1122],"class_list":["post-564357","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-halving-cycle","tag-bitcoin-price","tag-bitcoin-price-prediction","tag-btc","tag-btc-price"],"acf":[],"yoast_head":"\nApollo Crypto Predicts Bitcoin Price Of $200,000 This Cycle<\/title>\n<meta name=\"description\" content=\"Apollo Crypto predicts a significant rise in the price of Bitcoin, which could reach up to $200,000 in the current cycle.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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Through his extensive work with wncen.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/wncen.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Apollo Crypto Predicts Bitcoin Price Of $200,000 This Cycle, Here’s Why","url":"http:\/\/wncen.com\/news\/apollo-crypto-bitcoin-price-200000-this-cycle\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/apollo-crypto-bitcoin-price-200000-this-cycle\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/iStock-877508718.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/iStock-877508718.jpg?fit=1254%2C836"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin halving cycle","bitcoin price","bitcoin price prediction","btc","btc price"],"dateCreated":"2023-12-07T12:30:08Z","datePublished":"2023-12-07T12:30:08Z","dateModified":"2024-06-11T08:32:01Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Apollo Crypto Predicts Bitcoin Price Of $200,000 This Cycle, Here’s Why\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/apollo-crypto-bitcoin-price-200000-this-cycle\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/apollo-crypto-bitcoin-price-200000-this-cycle\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/iStock-877508718.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/iStock-877508718.jpg?fit=1254%2C836\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin halving cycle\",\"bitcoin price\",\"bitcoin price prediction\",\"btc\",\"btc price\"],\"dateCreated\":\"2023-12-07T12:30:08Z\",\"datePublished\":\"2023-12-07T12:30:08Z\",\"dateModified\":\"2024-06-11T08:32:01Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/iStock-877508718.jpg?fit=1254%2C836","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/564357"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=564357"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/564357\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/564359"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=564357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=564357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=564357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}