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Bitcoin (BTC) Price Prediction: How High Can BTC Go if ETF is Approved?
TL;DR
The topic of a spot Bitcoin ETF approval has been all everyone talked about this week, and not without a good reason.
AsCryptoPotatoreported, BTC’s price soared to $35K earlier this week, reaching levels not seen in a long time. The reason for it was that the website of the Depository Trust and Clearing Corporation (DTCC) suddenly showed a listing of a spot Bitcoin ETF carrying the ticker symbol iBTC – BlackRock’s BTC ETF.
Not that long after, however, the ticker was removed. The prices slid a little bit, but it was nothing too concerning. And a few hours later, the ticker appeared once again.
The listing of this ticker itself doesn’t mean a lot, but market participants are taking it as a sign that the approval chance for a spot Bitcoin ETF grew higher, hence the surge.
Now, a very popular crypto analyst –*Pentoshi –*took the opportunity to speculate on the potential upside for BTC in the next years, assuming an approved BTC ETF.
Bitcoin Price to $180K in 5 Years?
It’s important to note that Pentoshi said that “nobody knows what will happen AFTER, not BlackRock […] Literally nobody.”
However, the analyst said:
Going forward, Pentoshi said that “the long-term downside could be $19-$20K, and the upside could be $180K in the next 5 or so years. Just a guess.”
Meanwhile, if you’re interested in checking other BTC price predictions, take a look at our recent video: