CoinShares Predicts $141,000 Bitcoin Price, Forecasts $14.4 Billion Inflows From ETFs
In a recently published report, analyst James Butterfill delves into the relationship between inflows and changes in the Bitcoin price. ...
- The report by CoinShares analyzes the relationship between inflows into Bitcoin ETFs and changes in the Bitcoin price.
- Galaxy's analysis estimates that a spot Bitcoin ETF in the US could attract $14.4 billion in inflows within the first year.
- Inflows as a percentage of assets under management (AuM) have a correlation with price changes, indicating momentum trading.
- The report suggests that the $14.4 billion inflows could potentially drive the price of Bitcoin up to $141,000 per coin.
- Regulatory approval and corporate acceptance may take time due to perceived complexities associated with Bitcoin.
The overall sentiment of the article is positive, as it highlights the potential impact of Bitcoin ETFs on the price of Bitcoin. However, it also acknowledges the challenges and uncertainties associated with regulatory approval and corporate adoption.