{"id":569658,"date":"2024-01-15T21:00:44","date_gmt":"2024-01-15T21:00:44","guid":{"rendered":"https:\/\/wncen.com\/?p=569658"},"modified":"2024-06-11T07:40:10","modified_gmt":"2024-06-11T07:40:10","slug":"how-spot-bitcoin-etfs-could-catapult-btc-price-to-500000-according-to-this-crypto-trader","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/how-spot-bitcoin-etfs-could-catapult-btc-price-to-500000-according-to-this-crypto-trader\/","title":{"rendered":"How Spot Bitcoin ETFs Could Catapult BTC Price To $500,000, According To This Crypto Trader"},"content":{"rendered":"

Ash Crypto, a prominent figure in the crypto trading community, predicted <\/a>that the US spot Bitcoin Exchange-Traded Funds (ETFs)<\/a> could propel BTC’s price to $500,000.<\/p>\n

Bitcoin To Follow Gold’s ETF Success Story<\/h2>\n

The rationale behind Ash Crypto\u2019s forecast stems from a comparison with gold, whose market capitalization witnessed a significant surge after the introduction of its ETFs. Historically, gold’s market cap escalated from approximately $2 trillion before the ETFs to roughly $16 trillion over the following years.<\/p>\n

Related Reading: The Bitcoin Climax: Analyst Flags Market Peak Amid Spot ETF Hype Cooling Off<\/a><\/div>\n

Ash Crypto posits that with its finite supply and growing popularity, Bitcoin might not only replicate but potentially exceed gold\u2019s post-ETF trajectory. Considering Bitcoin’s current market cap of around $840 billion, reaching even half of gold’s market cap would catapult BTC\u2019s value to “$500,000 in the coming years.”<\/p>\n

\n

Bitcoin is going to $500k after the
\nSpot ETF is approval. Here is the
\nevidence –<\/p>\n

When Gold ETF was approved, it\u2019s
\nmcap was around $2 Trillion. After
\nETF gold saw huge inflows of liquidity
\nand reached $16 Trillion in few years.
\n( Don\u2019t forget gold supply is not fixed,
\nwe\u2026 pic.twitter.com\/uE6XKkHWtU<\/a><\/p>\n

\u2014 Ash Crypto (@Ashcryptoreal) January 14, 2024<\/a><\/p><\/blockquote>\n

The implications of Bitcoin’s rising market cap extend beyond the crypto sphere, encroaching on traditional financial markets. Ash Crypto points out the colossal market capitalizations of the global stock and bond markets, amounting to $109 trillion and $133 trillion, respectively.<\/p>\n

The crypto trader suggests that as Bitcoin continues to establish itself as a legitimate financial asset, it will likely absorb a significant portion of the market cap from these traditional markets. This belief is grounded in the notion that Bitcoin offers a “novel value proposition, aligning with the investment preferences of a new generation of investors.”<\/p>\n

Adding to this perspective, several trillion-dollar companies have begun promoting Bitcoin, signaling the advent of institutional investors in the crypto market.<\/p>\n

These developments indicate a growing recognition of Bitcoin as a mainstream financial asset, further supporting the potential for a significant increase<\/a> in its market cap. The crypto trader noted:<\/p>\n

Now we have trillion dollar companies shilling Bitcoin for us with ads. Institutions are finally here and trillions are coming into crypto boyz!!<\/p><\/blockquote>\n

Ash Crypto further emphasizes that the journey to an $8 trillion market cap is a “long-term” vision that won\u2019t “happen overnight,” advising investors to maintain focus beyond the market’s short-term volatility.<\/p>\n

Global Mega Bank Foresees $200,000 Price Target<\/h2>\n

Furthermore, echoing Ash Crypto\u2019s bullish stance, Standard Chartered\u2019s Head of Digital Assets Research, Geoff Kendrick, and Precious Metal Analyst, Suki Cooper, forecasted a six digit price target<\/a> for Bitcoin.<\/p>\n

They project a potential target of $200,000 for Bitcoin, contingent upon an influx of $50 to $100 billion into the Spot Bitcoin ETFs. Their predictions draw parallels between the historical impact of Gold exchange-traded products (ETPs) and the expected trajectory of Spot Bitcoin ETFs, foreseeing a rapid development for the latter compared to the former.<\/p>\n

Related Reading: PlanB\u2019s Triple Bitcoin Forecast: A Pre-Halving Surge, Post-ETF Rally, And Monumental Peak Ahead<\/a><\/div>\n

Meanwhile, over the past week, Bitcoin has shown bearish price action<\/a>. The asset has notably plunged over 5% over this period and has continued to decline even in the past 24 hours by 1.1%, with a current trading price of $42,419 at the time of writing.<\/p>\n

\"Bitcoin
BTC price is moving sideways on the 4-hour chart. Source: BTC\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Ash Crypto, a prominent figure in the crypto trading community, predicted that the US spot Bitcoin Exchange-Traded Funds (ETFs) could propel BTC’s price to $500,000. Bitcoin To Follow Gold’s ETF Success Story The rationale behind Ash Crypto\u2019s forecast stems from a comparison with gold, whose market capitalization witnessed a significant surge after the introduction of its ETFs. Historically, gold’s market cap escalated from approximately $2 trillion before the ETFs to roughly $16 trillion over the following years. Related Reading: The Bitcoin Climax: Analyst Flags Market Peak Amid Spot ETF Hype Cooling Off Ash Crypto posits that with its finite supply and growing popularity, Bitcoin might not only replicate but potentially exceed gold\u2019s post-ETF trajectory. Considering Bitcoin’s current market cap of around $840 billion, reaching even half of gold’s market cap would catapult BTC\u2019s value to “$500,000 in the coming years.” Bitcoin is going to $500k after the Spot ETF is approval. Here is the evidence – When Gold ETF was approved, it\u2019s mcap was around $2 Trillion. After ETF gold saw huge inflows of liquidity and reached $16 Trillion in few years. ( Don\u2019t forget gold supply is not fixed, we\u2026 pic.twitter.com\/uE6XKkHWtU \u2014 Ash Crypto (@Ashcryptoreal) January 14, 2024 The implications of Bitcoin’s rising market cap extend beyond the crypto sphere, encroaching on traditional financial markets. Ash Crypto points out the colossal market capitalizations of the global stock and bond markets, amounting to $109 trillion and $133 trillion, respectively. The crypto trader suggests that as Bitcoin continues to establish itself as a legitimate financial asset, it will likely absorb a significant portion of the market cap from these traditional markets. This belief is grounded in the notion that Bitcoin offers a “novel value proposition, aligning with the investment preferences of a new generation of investors.” Adding to this perspective, several trillion-dollar companies have begun promoting Bitcoin, signaling the advent of institutional investors in the crypto market. These developments indicate a growing recognition of Bitcoin as a mainstream financial asset, further supporting the potential for a significant increase in its market cap. The crypto trader noted: Now we have trillion dollar companies shilling Bitcoin for us with ads. Institutions are finally here and trillions are coming into crypto boyz!! Ash Crypto further emphasizes that the journey to an $8 trillion market cap is a “long-term” vision that won\u2019t “happen overnight,” advising investors to maintain focus beyond the market’s short-term volatility. Global Mega Bank Foresees $200,000 Price Target Furthermore, echoing Ash Crypto\u2019s bullish stance, Standard Chartered\u2019s Head of Digital Assets Research, Geoff Kendrick, and Precious Metal Analyst, Suki Cooper, forecasted a six digit price target for Bitcoin. They project a potential target of $200,000 for Bitcoin, contingent upon an influx of $50 to $100 billion into the Spot Bitcoin ETFs. Their predictions draw parallels between the historical impact of Gold exchange-traded products (ETPs) and the expected trajectory of Spot Bitcoin ETFs, foreseeing a rapid development for the latter compared to the former. Related Reading: PlanB\u2019s Triple Bitcoin Forecast: A Pre-Halving Surge, Post-ETF Rally, And Monumental Peak Ahead Meanwhile, over the past week, Bitcoin has shown bearish price action. The asset has notably plunged over 5% over this period and has continued to decline even in the past 24 hours by 1.1%, with a current trading price of $42,419 at the time of writing. Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":515753,"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":[428,678,1119,78790,6664],"class_list":["post-569658","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-prediction","tag-btc","tag-btcusdt","tag-crypto"],"acf":[],"yoast_head":"\nHow Spot Bitcoin ETFs Could Catapult BTC Price To $500,000, According To This Crypto Trader<\/title>\n<meta name=\"description\" content=\"Ash Crypto, a prominent figure in the crypto trading community, has recently expressed a bold Bitcoin prediction: the introduction of...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/wncen.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"How Spot Bitcoin ETFs Could Catapult BTC Price To $500,000, According To This Crypto Trader","url":"http:\/\/wncen.com\/news\/how-spot-bitcoin-etfs-could-catapult-btc-price-to-500000-according-to-this-crypto-trader\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/how-spot-bitcoin-etfs-could-catapult-btc-price-to-500000-according-to-this-crypto-trader\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Bitcoin.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Bitcoin.jpg?fit=2048%2C1256"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin prediction","btc","btcusdt","crypto"],"dateCreated":"2024-01-15T21:00:44Z","datePublished":"2024-01-15T21:00:44Z","dateModified":"2024-06-11T07:40:10Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"How Spot Bitcoin ETFs Could Catapult BTC Price To $500,000, According To This Crypto Trader\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/how-spot-bitcoin-etfs-could-catapult-btc-price-to-500000-according-to-this-crypto-trader\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/how-spot-bitcoin-etfs-could-catapult-btc-price-to-500000-according-to-this-crypto-trader\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Bitcoin.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Bitcoin.jpg?fit=2048%2C1256\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin prediction\",\"btc\",\"btcusdt\",\"crypto\"],\"dateCreated\":\"2024-01-15T21:00:44Z\",\"datePublished\":\"2024-01-15T21:00:44Z\",\"dateModified\":\"2024-06-11T07:40:10Z\"}<\/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\/01\/Bitcoin.jpg?fit=2048%2C1256","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/569658"}],"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\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=569658"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/569658\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/515753"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=569658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=569658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=569658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}