An anonymous cryptocurrency analyst is making bold predictions about the future price of Bitcoin (BTC), stating that it could reach a six-figure value in the coming months. The individual, known as the host of the InvestAnswers YouTube channel, believes that Bitcoin could experience a massive surge of up to 282% due to increased demand following the approval of spot Bitcoin exchange-traded funds (ETFs).
The InvestAnswers host explains that while institutional investors have currently only made small investments in ETFs, this is about to change. The host anticipates that once the big money starts flowing in, even a mere 1% allocation of assets under management could push the price of Bitcoin well above $200,000 or even $250,000.
As of now, Bitcoin is trading at $65,300. The InvestAnswers host highlights that Bitcoin is on the verge of experiencing a significant decrease in supply. The host has revised their conservative price target for this bull run from $150,000 to approximately $170,000 if the ETF consumption continues.
However, the host believes that when a supply crunch occurs, things could become even more extreme. If there are no sellers in the market, it won’t satisfy the appetite of the large institutions entering the space. While some early Bitcoin investors may sell a portion of their holdings for profit, it won’t be enough to meet the demand from institutional investors.
The InvestAnswers host also notes that the conservative price target may be achieved earlier than the typical 18-month timeframe it takes for Bitcoin to reach a new all-time high after a halving event. They observe that things are happening faster and sooner, potentially bringing the 18-month timeline forward to around early summer 2025.
In conclusion, the InvestAnswers host predicts that Bitcoin has the potential to reach a six-figure price in the near future, driven by increased demand from institutional investors and a potential supply crunch.
