Bitcoin price can rise from 1.5 lakh to 2 lakh dollars!
There is currently speculation about Bitcoin. As discussed earlier this year, the Spot Bitcoin ETF was approved by the US Securities and Exchange Commission in January of this year. Moreover, this month Bitcoin has completed its halving. So there are predictions about how much the price of Bitcoin can rise. Many people are making different predictions and many think that the price of Bitcoin can exceed two hundred thousand dollars by the end of this year or next year, and many people think that its price can easily exceed one and a half hundred thousand dollars. However, in the current situation, the price of Bitcoin is slightly downward, but by the end of this year, the price of each Bitcoin may rise to 1 lakh 50 thousand dollars. And from the middle of next year to the end, the price of Bitcoin can reach the highest level in history and reach 2 million dollars.
In January this year, a Bitcoin Exchange Traded Fund (ETF) was approved by the US Securities and Exchange Commission. As a result we have seen the Bitcoin price rise since the beginning of this year and last month the Bitcoin price broke the previous Bitcoin price record and created a new history. From here though the price of Bitcoin is slightly lower but we also know that there are a few more such ETFs waiting to be approved, including in Hong Kong. If they get the green signal, investments in crypto will increase. And when the amount of investment in digital currencies starts to increase, the price of the virtual currency will naturally increase as well.
The ETF market is booming in the US. An important point here is that there is currently a $12 billion Bitcoin inflow. And in this situation, the price of Bitcoin is currently trading around 63 thousand dollars. As the flow of Bitcoin continues to increase, its price will naturally increase. And it is expected that the flow of bitcoin may increase to 50 billion dollars in the current year and it will increase further and it may reach 100 billion dollars in the next year.
Moreover, if we calculate the past all-time high from the price of Bitcoin at the time of the Bitcoin Halving last year, we will see that the price has increased by almost 7 times since the Bitcoin Halving until 2022. Similarly, if we look at the Bitcoin halving this year, the price of Bitcoin was around $60,000. If we consider three times from this position then it can easily be one hundred and eighty thousand dollars worth of Bitcoin. Also linked to this is the approval of gold ETFs in 2004 which was approved by the US. Since then, the price of the safe haven metal has risen 4.3 times.
If we consider this also in the case of Bitcoin, we can easily understand how much the price of Bitcoin can increase, although we cannot say precisely or precisely. Taking that into account, the price of Bitcoin will also go up. In the next 18 to 24 months, the value of the online currency will increase further if the discussed ETFs are allowed. Moreover, with the approval of spot bitcoin ETFs, cryptos have become a more acceptable and accessible investment medium than ever before. And because of this Bitcoin is going to a strong phase now. As a result, the demand for crypto will be stronger. The price of the currency will reach 1.5 lakh to 200,000 dollars.
Moreover we know the most popular and most original crypto is Bitcoin. Although currently the price of Bitcoin is close to 63 thousand dollars and it is in a downward position despite repeated attempts to move upwards. But if spot Bitcoin ETFs become approved and with that we will see more investments in this currency within a few days. Moreover, the Bitcoin halving resulted in the halving of the rewards for Bitcoin miners, and this led to a shortage of Bitcoins in the market, which in turn increased the price of Bitcoins. However, it is not uncommon for bitcoin prices to rise due to bitcoin halvings and ETFs, and due to bitcoin's skyrocketing popularity.
Calculating past all-time highs from the time each Bitcoin halve has completed right from the beginning to now, many of us can predict that it's only a matter of time before the price of Bitcoin easily surpasses $200,000 by the end of this year and next year.
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Very important point raised, Bitcoin is setting itself up to pump hard, thank you for explaining it so well,
Thanks for reading and giving your feedback
The price range you have shared about Bitcoin in the upcoming bull run market is highly possible and I have seen many videos and articles in which experts are also anticipating the same. We have seen how the bitcoin has crossed its last all time high and crossing it 100K will not be a big deal which might happen anytime within this year.
Bitcoin predictions and reaching these prices are not too impossible. Anyway hope something good happens. Thanks
Reflecting on the Bitcoin halving's impact, it's evident that historical trends hint at a potential surge in Bitcoin's value. With past halvings correlating to significant price increases, projections suggest a bullish trajectory, especially if ETF approvals materialize. This, coupled with heightened accessibility, underscores Bitcoin's resilience and potential for substantial growth in the coming months.