Bitcoin Hits $43,200: ETF Momentum Sparks $122K Predictions

Bitcoin trades at $43,200 after rising over 4% in the past week. The launch of spot Bitcoin exchange-traded funds (ETFs) in the US boosted its price exponentially last year. Analysts believe Bitcoin may keep rising to surpass $122,000 next year.

A panel of experts surveyed by Finder expects the flagship cryptocurrency’s price to hit a new all-time high of $77,423 by year’s end. They predict it will reach $122,688 by the end of 2025 and $366,935 by 2030.

Furthermore, BTC fell below $40,000 after the launch of spot Bitcoin ETFs. It faced pressure from significant outflows from Grayscale’s BTC Trust. The Trust converted into a spot Bitcoin ETF as new funds launched from BlackRock, Fidelity, Invesco, and others, offering BTC exposure.

Bitcoin Hits $2.19B Daily Trading

CCData’s latest Digital Asset Management Review report says average daily trading volumes in crypto investment products hit a new high of $2.19 billion last month. This came after four straight months of growth. The rise is linked to the introduction of spot ETFs in the US and improving market sentiment.

Finder’s panelists raised their BTC price predictions from previous surveys. For the first time, they predict a rise above $100,000 by 2024 and above $300,000 per coin by 2030.

Kadan Stadelmann, CTO of Komodo, sees Bitcoin’s potential to reach $80,000 in 2024. He attributes this to growing interest from major companies and institutional investors, the launch of spot BTC ETFs, and the upcoming Bitcoin halving event.

Only some experts were as bullish. University of Canberra’s John Hawkins said spot BTC ETF popularity could cause a temporary price increase. But he sees BTC as a medium to long-term speculative bubble.

Related Reading | Binance Freezes $4.2M Stolen XRP, Supports Ripple Recovery

Furthermore, the author’s views are for reference only and shall not constitute investment advice. Before purchasing, please ensure you fully understand and assess the products and associated risks.

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