Bitcoin price is lingering around $43,000 as this article is being prepared and has started to rise again in the last few hours. Altcoins have turned green again with the support of the recovery in the BTC price. The BTC price, which is shaped by many factors, is fundamentally rising again due to the weakening of spot sales. So, what will be the long-term price of BTC?
The Future of Bitcoin (BTC)
Tether printed 1 billion dollars worth of USDT hours ago, after which the BTC price climbed back above $43,000. Since October 20, 2023, a total of 13 billion USDT has been printed, reflecting the strength of the ongoing influx into the markets. Looking from a different perspective, the rise since October has been facilitated by the 13 billion USDT.
What if ETFs see a net inflow of 10 billion dollars per year? Since the launch day, there has been over 750 million dollars in net inflows, and a minimum of 10 billion dollars in net inflows is expected throughout the year. If we experience a major hype period and more investors who have not ventured outside traditional investment products enter crypto for the first time through Spot BTC ETFs, how much growth will we see?
There are 10 ETF issuers, including giants like BlackRock, which manages over 10 trillion dollars, and Fidelity, managing 7 trillion dollars. The total assets of the issuers’ clients are massive, and investment advisors are now starting to recommend BTC ETFs to their clients.
We are still in the early stages of ETFs, and we can see the most clear positive effects on the general market within the next 1-2 years.
What Will Be the Price of Bitcoin?
Former White House Communications Director Anthony Scaramucci is one of the most intriguing figures in crypto and often makes headlines with his comments in this field. Perhaps we will see him making more comments representing his party as the US elections approach.
Institutional investors like Anthony Scaramucci predict a further rise in Bitcoin. In the scenario mentioned in the first section, where net inflows increase exponentially, the price should naturally rise as well.
“Look back at the Bitcoin halving cycles. Multiply the day when Bitcoin’s mining rewards are halved by four, and in 18 months, you will see that this is the price of Bitcoin.”
According to Scaramucci’s prediction, a target between $200,000 and $240,000 emerges for Bitcoin. Aiming higher, Anthony targets $400,000 for Bitcoin, based on the scenario where it equals half the market value of gold.
