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𝐁𝐈𝐓𝐂𝐎𝐈𝐍 𝐓𝐎 $𝟓𝟎𝟎,𝟎𝟎𝟎 𝐁𝐘 𝟐𝟎𝟑𝟎 🔥🚀
A lot of people are expecting a spot #Bitcoin approval by 2024.
Given that #BlackRock and other big hedge funds have applied for them and they have a high ETF approval rate.
Some people are also comparing #BitcoinETF approval to that of Gold, which pushed Gold to a new ATH and beyond.
So let_s do some math and see what will happen if the Bitcoin ETF gets approved and BTC follows the same path as gold.
The first gold spot ETF in the US 🇺🇲 was approved in November 2004, when gold was trading at $420 per ounce.
The market cap of gold in 2004 was around $2.16 trillion.
In September 2011, gold peaked at $1900/ounce, and its MCap at the time was around $𝟏𝟎.𝟓 𝐭𝐫𝐢𝐥𝐥𝐢𝐨𝐧 🔥
These are approximate numbers, as the exact total supply of gold is unknown, unlike BTC.
Now, let_s compare this with Bitcoin and see what will happen to the #BTC price if it hits the $10.5 trillion MCap.
◼️ Current MCap of Bitcoin: $518B
◼️ Price: $26,700
To hit the $10.5T MCap
🔥 BTC needs to go up by 𝟐𝟎.𝟐𝐱, which will send its price to $𝟓𝟒𝟏,𝟐𝟏𝟔 🤑
One thing to note here is that when #Gold ETF was approved, its MCap was already $2.1T, while Bitcoin_s MCap is $517B.
But given the growth potential of BTC, it_s possible that BTC can hit $500k by 2030
And we could even see a bull market that will not be a typical 4-year cycle but a supercycle that could last more than 6-7 years.
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This prediction is completely data-based. Shiba Inu (SHIB) and Dogecoin (DOGE) Trying To Avoid Market Uncertainty, While New Star Rises
Shiba Inu (SHIB): The Little Doge’s Market Path
Shiba Inu, often referred to as the ‘Dogecoin Killer,’ emerged as a decentralized meme token, creating waves in the crypto realm. Despite its playful origins, SHIB has showcased its might, sometimes unpredictably, in the market. Let’s delve deeper into its current situation.
Recent market movements highlight SHIB’s flirtation with its 9-day, 18-day, and 40-day moving averages. As the token gyrates around pivotal price points, its resilience is tested. Today, SHIB’s price stands at 0.0000073, a value that has become a pivot, with strong resistance above at 0.0000113 and support below near the 0.0000060 mark.
Based on current indicators, SHIB’s immediate price trajectory exhibits mixed signals. With the token’s frequent interactions at key moving average levels, traders may expect potential breakout or breakdown moves. Pivot points further offer resistance and support levels that can guide entry and exit points for strategic trading.
Given SHIB’s recent performance, the future looks promising but uncertain. The constant interplay with its moving averages signals possible price actions ahead.
However, as always, market factors and external news can influence its direction, necessitating a vigilant approach from traders. Amidst this turbulence, ScapesMania emerges, offering a potentially stable alternative for those willing to aim for returns above the medium level, i.e. in the ballpark of 400-500%.
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