Global media company Forbes has published a column predicting a staggering $80,000 price increase for Bitcoin following the approval of Spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC).
Bitcoin rises to $80,000
The American business magazine and global media company Forbes recently did this issued a report highlighting the enormous impact of adopting a Discover Bitcoin ETF would have on the price of BTC. According to the publication, the price of Bitcoin could reach $80,000 by the end of 2024.
The analysis was published by Market overview from crypto analysts at AllianceBernstein, one of the largest investment firms. According to analysts Gautam Chhugani and Mahika Sapra: Bitcoin’s price could skyrocket to $80,000 if the US SEC approves it Discover Bitcoin ETF applications.
The crypto experts also highlighted other factors that could push Bitcoin’s price to $80,000, including the upcoming price Bitcoin halving event in April and the growing demand from companies.
“We expect 2024 to be a breakout year for crypto. The build-up of Bitcoin ETF flows could happen gradually, but applicants will fight hard to get an edge in this massive asset accumulation game, aligning advertising and Bitcoin branding, creating a snowball effect leads,” the analysts said.
Crypto experts at AllianceBernstein have also predicted that approximately $5 billion will flow into Spot Bitcoin ETFs in the first half of 2024. Their analysis suggests there may be a doubling in the second half. inflow of $10 billion, with forecasts indicating that BTC could reach a market cap of $1.5 trillion before the end of the year.
BTC bulls reclaim $44,000 support | Source: BTCUSD on Tradingview.com
SEC Warning Against FOMO Before BTC ETF Verdict
As the crypto world prepares for the US SEC’s final decision on Spot Bitcoin ETF applications January 10the regulator has published a report warning investors against investing in Fear Of Missing Out (FOMO).
In the report published in a X notice from the US SEC’s Office of Investor Education and Advocacy on January 6 US SEC highlighted all the negative effects of succumbing to FOMO, and offered advice on how to avoid or overcome this feeling. The report also provided advice on ways to limit investment risks and maneuver volatile market swings.
“Say “NO GO to FOMO” (fear of missing out). The fact that others might purchase a particular investment does not mean it is the right opportunity for you,” the SEC said.
The regulator explained that FOMO can be difficult to combat. However, it urged investors to always apply willpower when making investment decisions. “When making investment decisions, keep this phrase in mind: “NO GO to FOMO,” the regulator concluded.
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