How Much Will 1 Bitcoin be Worth AFTER Blackrock ETF Approval?

The question isn't so much what happens On day one you know Galaxy digital just Came out with a research report they Think $14 billion will go into the ETF In the first year if that happens what Does that do to the price how much will One Bitcoin be worth after black Rock's ETF approval Anthony Pompano went on CNBC this morning to explain and before We talk about what's next with bitcoin's Price let's just be very clear on how The Bitcoin price got here I me look to Understand really where Bitcoin is right Now you got to go back to 2018 2019 Bitcoin had been up to 20,000 in the Bull market it drew all the way down to $3,000 what happened there in Stanley Duck Miller said it was the thing that Convinced him to go buy Bitcoin is that None of the bitcoiners really sold about 80% of the people who owned it at 20,000 Still owned it 56% long term right now So there's a there's no supply for it Either it's highly liquid 76% hasn't Been sold in the last year 56% hasn't Been sold in the last two years years And really what we saw what drove Bitcoin's price from that $3,000 bottom To $69,000 mean 23x in about 3 years is That there was a supply and a demand Shock and we had printing of money low Interest rates and we also got the Having we look like we're headed right Back to that right now we do have high

Interest rates and they're trying not to Print money but we have a 33 a. half Trillion dollar debt they're trying to Fund two proxy wars we have the southern Border issue we've got all sorts of uh Inflation they're still trying to uh Combat and so what's likely to happen Here is that they're going to have to Return to loose monetary policy when They do that it is likely to coincide With the Bitcoin so pomp backs up what We discussed in our interview yesterday That long-term holders aren't selling And that's a mindblowing thing to see Long-term holders at an all-time high Showing that they are more and it's Still an uptrend more confident than They have ever been before in history of Bitcoin and the short-term holders at an All-time low and as we stand today Bitcoin sores as black rock moves closer To launching their spot Bitcoin ETF the Ey shares Bitcoin trust I.E the Black Rock Bitcoin trust has been listed on The dtcc depository trust and Clearing Corporation which clears NASDAQ trades And the ticker will be ibtc all part of The process to bringing in ETF to Market One of the things people have to Remember is the best investors in the World act completely differently than The herd and so right now the herd is Saying we're risk off every great Investor I know is going risk on they're

Buying these asset at suppressed prices Cuz they know what's going to happen We're going to return to loose monetary Policy and prices are going to go back Up are we though higher for longer Higher for longer higher for longer you You uh you eventually run into math and Ultimately you have a$ 335 trillion Dollar debt you added $500 billion in The last month we're sending hundreds of Billions of dollars around for these Proxy wars you just if you're going to Continue to raise the national debt You're going to have to inflate it away And so loose monetary policy is going to Be the standard over the coming so Understanding where we are today how Much now will one Bitcoin be worth best Guess and keep in mind anything is Possible with cryptocurrency never Invest more than you are willing to lose But longterm even Alexis Ohanian Co-founder of Reddit admits that the Growth of this asset is undeniable Bitcoin has never felt really all that Different from gold um you know if you Explain to me that gold was a really Important part of human culture I'd Understand it as an Armenian I I know I I for whatever reason just love love Gold um we we have a cultural affinity For this shiny piece of metal uh the Shiny Rock and and it's been built over Years and years and years and there are

Plenty of investors who won't touch it Because they feel like it's not a a Great asset um but there's a whole heck Of a lot of people who have a strong Cultural affinity for it and I think Bitcoin is in a similar Camp um maybe It's a different generation maybe it's More sort of Technology oriented folks But at the end of the day you know I'm Here I'm investing in Asteroid mining Companies and one thing I'm certain of Is we're never going to find a bunch of New Bitcoin on an asteroid uh there's a Bunch of precious metals we we'll end up Finding uh but at the end of the day It's a it's a kind of asset that Requires um a sort of conviction in it As a store value and for a whole heck of A lot of people there is been at least As of yesterday uh another flight to it But you know look I I invest with the Long-term Horizon that's one of the nice Things about this job is I don't have to Worry about markets day to day or hour To hour um I make every investment with At least a 10-year time Horizon so how Much are experts speculating that one Bitcoin could be worth directly after The approval well honestly it all Depends on how much money flows into the ETFs if no money flows into these ETFs Then obviously nothing will change but On the other hand all these companies Are going to have their sales forces now

Selling you're going to have Invesco Salesforce Black Rock Salesforce Kathy Wood Salesforce Fidelity sales force all Out selling Bitcoin Bitcoin could rise Per the analysis of Matrix port Could rise to between 42,000 and 56,000 if the ETF is approved and this Prediction is based on the potential Inflows of as much as 24 billion and Finally Pompano answers the question how Much will one Bitcoin be worth go back To this idea of and we've talked about It on the broadcast a lot the sort of Buy the rumor sell the news situation Which is if in fact this ETF Exists or there's a big announcement is That a great day for bit coin or is that Baked into the price and you you needed To have gotten there beforehand and Actually goes down afterwards I think This a great Point uh the having Historically have been this like by the Uh rumor seld the news events uh the ETF Probably is going to be something like That where if if you saw uh this fake News I guess it was you know where the ETF got approved but it really wasn't Approved basically price went up Thousands of dollars in a few minutes Then Drew right back down as soon as it Was uh determined that it was fake and So you probably will get some sort of uh Short-term movement just out of the Excitement but I do think that this

Anticipation is obviously driving the Price up it was 25,000 now it's 34,000 You're just eating into what was Potential Returns on the approval and so Uh the question isn't so much what Happens on day one you know Galaxy Digital just came out with a research Report they think $4 billion will go Into the ETF in the first year if that Happens what does that do to the price Their expectation is that's going to Drive the price 75% higher and so that's Just their estimation around the ETF if That's true that's a pretty big price Move for an asset that's already Hundreds of billions of dollars in Market cap if you're interested in Learning more and making money in Cryptocurrency Click subscribe you do Not want to miss a daily video and by The way breaking news Sam bankman freed Will testify he will take the stand at His criminal trial as soon as Thursday Which will be his direct attempt to Appeal to the jurors in his bid to prove That he did not commit or conspire to Commit fraud also just announced crypto Lender blockfi ends bankruptcy with a Plan to repay customers so another way To say this is that blockfi has emerged From bankruptcy emergence is when a firm That previously entered bankruptcy Successfully reorganizes its balance Sheet so that it's ready to repay its

Creditors and who can withdraw today While the company's custodial wallet Customers can submit a withdrawal Request today Block's Bia interest Sparing account and Loan customers Aren't expected to receive initial Distributions until early 2024 and in Altcoin news polygon has launched its Pole token contract on ethereum to Eventually replace madic so we know that The ticker symbol for polygon madic is Going away it's switching to pole and as Described by them pole is the next Generation token that can power a vast Ecosystem of ZK based L2 chains it does That via a native reaking protocol that Allows pole holders to validate multiple Chains and perform multiple roles on Each of those chains turning pole into a Hyperproductive token so that explains The reasoning for the upgrade the switch Like always C tomorrow

Coinbase
OUR TAKE

Coinbase is a popular cryptocurrency exchange. It makes it easy to buy, sell, and exchange cryptocurrencies like Bitcoin. Coinbase also has a brokerage service that makes it easy to buy Bitcoin as easily as buying stocks through an online broker. However, Coinbase can be expensive due to the fees it charges and its poor customer service.

Leave a Comment

    • bitcoinBitcoin (BTC) $ 69,984.00 0.07%
    • ethereumEthereum (ETH) $ 3,787.35 3.42%
    • tetherTether (USDT) $ 1.00 0.14%
    • bnbBNB (BNB) $ 616.37 3.76%
    • solanaSolana (SOL) $ 178.35 4.09%
    • staked-etherLido Staked Ether (STETH) $ 3,784.15 3.47%
    • usd-coinUSDC (USDC) $ 1.00 0.09%
    • xrpXRP (XRP) $ 0.535680 0.07%
    • dogecoinDogecoin (DOGE) $ 0.168485 4.77%
    • the-open-networkToncoin (TON) $ 6.33 3.17%