Global media company Forbes has published a column predicting a staggering $80,000 price surge for Bitcoin following the approval of Spot Bitcoin ETFs by the United States Securities and Exchange Commission (SEC).
Bitcoin To Rise $80,000
American business magazine and global media company Forbes has recently released a report emphasizing the massive impact the approval of a Spot Bitcoin ETF would have on the price of BTC. According to the publication, the price of Bitcoin could surge as high as $80,000 by the end of 2024.
The analysis was disclosed by MarketWatch from crypto analysts at AllianceBernstein, one of the largest investment companies. According to analysts Gautam Chhugani and Mahika Sapra, Bitcoin’s price could skyrocket to $80,000 if the US SEC approves Spot Bitcoin ETF applications.
The crypto experts have also highlighted other factors that could propel the price of Bitcoin to $80,000 including the upcoming Bitcoin halving event in April and growing demand from companies.
“We expect 2024 to be a breakout inflection year for crypto. Bitcoin ETF flows build-up could be gradual, but the applicants will be fighting hard to get a lead into this massive asset accumulation game, tuning up advertising and Bitcoin branding leading to a snowball effect,” the analysts said.
AllianceBernstein crypto experts have also predicted approximately $5 billion flowing into Spot Bitcoin ETFs during the first half of 2024. Their analysis suggests the second half may see double inflows of $10 billion, with projections indicating that BTC could attain a $1.5 trillion market cap before the year ends.
BTC bulls reclaim $44,000 support | Source: BTCUSD on Tradingview.com
SEC Caution Against FOMO Before BTC ETF Verdict
As the crypto space is gearing up for the US SEC’s final decision on Spot Bitcoin ETF applications on January 10, the regulator has published a report cautioning investors against the Fear Of Missing Out (FOMO) investments.
In the report which was published in an X post by the US SEC’s Office of Investor Education and Advocacy on January 6, the US SEC highlighted all the negative effects of succumbing to FOMO, offering guidance on how to avoid or overcome the feeling. The report also provided advice on ways to mitigate investment risks and maneuver volatile market swings.
“Say “NO GO to FOMO” (fear of missing out). Just because others might buy a particular investment, doesn’t mean it’s the right opportunity for you,” the SEC said.
The regulator explained that FOMO can be a hard feeling to fight. However, it urged investors to always apply willpower when making investment decisions. “As you make investment decisions keep this phrase in mind, “NO GO to FOMO,” the regulator concluded.
Featured image from Investors King, chart from Tradingview.com
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