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The cryptocurrency market is no stranger to volatility, but there are several compelling reasons to believe that Bitcoin could reach a valuation of $250,000 or more in the next 24 months.
Blackrock’s Anticipated ETF
One of the driving factors is the expected launch of a Blackrock ETF that could be valued at around $5 billion. Blackrock would need to acquire a significant amount of Bitcoin to facilitate this trading. A buying pressure of approximately $1 billion has previously moved Bitcoin’s price by around 10%. Thus, Blackrock alone could push the asset to approximately $35-40k.
Hype and Promotion
Once the ETF launches, there will be immense media attention and hype. This will likely be the most anticipated ETF ever and will garner massive promotion from the stock market, further driving up the price of Bitcoin. The influx of attention could easily help Bitcoin to reach its previous all-time high.
Bitcoin Halving
Bitcoin’s next halving event is also on the horizon. Halving events traditionally halve the block reward for miners. To maintain profitability, the asset’s price usually increases. Conservatively speaking, this event alone could double Bitcoin’s price, taking it to around $140,000.
Institutional and VC Investment
By this time, Bitcoin will have significant momentum, and we can expect a new wave of venture capital and institutional investments. Given the pattern, this could easily propel the asset’s price another 2x to around $300,000.
Stock-to-Flow Model
The stock-to-flow model predicts a peak price for Bitcoin at around $360,000, lending further credence to this projection. With all these factors combined, the bull market for Bitcoin looks set to return in a big way.
Summary:
Several factors, such as the expected $5 billion Blackrock ETF, the upcoming Bitcoin halving, and increased institutional investment, are aligning to suggest that Bitcoin could easily reach a price of $250,000+ within the next 24 months. Get ready; the bull market seems poised for a comeback.