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While the U.S. Securities and Exchange Commission (SEC) is but to take a call on the a lot awaited rule change on the itemizing of a spot Bitcoin trade traded fund (ETF), the Bitcoin (BTC) price continues to be on the rising curve. The potential approval of the primary ever spot Bitcoin ETF and the Bitcoin Halving makes it an optimistic case for traders and merchants to anticipate additional features.

Also Read: US SEC Probing If CZ Still Has Access To Binance US Funds: WSJ

Dan Tapiero Sees BTC Price At $100K

Macro guru and funding supervisor Dan Tapiero expressed bullish sentiment round Bitcoin, come the following bull run. While a number of standard traders have already predicted BTC value to be within the vary of $500,000 and $1 million over the course of the present decade, Tapiero has a conservative estimate of $100,000 within the subsequent few years. This means the following bull run ought to give a soar by a a number of of 3 times, from the present stage of beneath $40,000. Tapiero reportedly stated that the following bull run could be in 2025, when the highest cryptocurrency might attain above $100,000.

“I think this next bull run into 2025 we will see Bitcoin over $100,000. I think that’s a pretty conservative estimate.”

With the Bitcoin Halving occasion set to happen in early a part of the second quarter of 2024, widespread expectations round a possible BTC value rally are supported by value traits across the earlier Halving occasions.

Spot Bitcoin ETF: Approval Imminent?

Earlier, CoinGape reported that BlackRock representatives had lately mentioned with US SEC officers on its spot Bitcoin ETF utility. Also, information has been round that the SEC officers met representatives from numerous crypto exchanges on the proposed rule change involving spot ETF approval. Does it imply the mass approval of spot Bitcoin ETF purposes is imminent within the subsequent few months?

Also Read: XRP Ledger (XRPL) NFT Upgrade Goes Live on Mainnet

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Anvesh studies main crypto updates round U.S. regulation and market shifting traits. Published over 1,200 articles up to now on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or twitter.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

The offered content material might embrace the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any accountability to your private monetary loss.