The post Will Bitcoin ETFs Skyrocket or Sink? The Truth Revealed appeared first on Coinpedia Fintech News
In the bustling world of cryptocurrency, the U.S. market is abuzz with expectations of Bitcoin turning bullish in 2024. Central to this optimism is the anticipation of spot Bitcoin ETF approvals by January 2024. However, Anthony Pompliano, a renowned figure in the crypto industry, recently presented a differing viewpoint, sparking discussions among enthusiasts and investors.
Impact of Bitcoin ETF on Crypto Market
In a detailed post, Pompliano dissected the potential impact of a Bitcoin spot ETF on the market. Contrary to the common bullish sentiment, he argues that an influx of tens of billions of dollars would result in a modest 12% price increase, based on Bitcoin’s current market valuation of $850 billion. This calculation, however, does not paint the full picture.
He further delves into the liquidity issue, pointing out that about 70% of all Bitcoin has remained static for ov
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