The post Bitcoin Price Might Really to $150K-$350K Amidst Bitcoin Halving and Spot ETF Approval appeared first on Coinpedia Fintech News
In the ever-volatile world of cryptocurrency, Seth Fin, a prominent figure, is brimming with enthusiasm over Bitcoin’s recent sudden surge of 10%. However, what truly captivates his attention is the prospect of Bitcoin skyrocketing to a range between $150,000 and $350,000, with the support of major institutions.
In a recent Twitter post, Seth Fin delved into the meteoric 10% rise in Bitcoin’s value in a single day, attributing this remarkable ascent to the evolving landscape of the cryptocurrency realm in October 2023.
Several key developments have played a significant role in Bitcoin’s surge. Notably, the United States Securities and Exchange Commission (SEC) faced a series of courtroom losses, injecting uncertainty into the regulatory outlook. Furthermore, a false report, erroneously declaring the approval of BlackRock’s Spot Bitcoin Exchange-Traded Fund (ETF), triggered a frenzy of Bitcoin purchases, causing prices to soar by $3,000 in a mere 30 minutes.
Yet, what has captured the imagination of many is the upcoming Bitcoin halving. Seth Fin envisions the post-halving era as a stage where Bitcoin could experience frequent, astounding surges coupled with occasional 20% dips. His depiction includes Bitcoin transcending its current boundaries, ultimately reaching what he terms the “upper channel,” with price projections ranging from $150,000 to $350,000.
But what stirs Seth’s excitement even more is the potential approval of the Spot Bitcoin ETF. This approval would be a game-changer for the cryptocurrency world. In his post, Seth hints at major players like BlackRock, Fidelity, and prominent banks, along with pension funds, potentially preparing to allocate more than $10 billion into the cryptocurrency market. Moreover, he suggests that entire countries might soon dive into the crypto sphere.
This expanding participation in digital assets could indeed transform the landscape, and the recent October 2023 surge in Bitcoin’s price might just be the beginning of a remarkable journey.