Bitcoin bulls are taking a break. After the price of the largest cryptocurrency by market capitalization rose to around $53,000, BTC is now stabilizing around $51,000. Although digital gold increased by over 150% last year, it has already increased by more than 15% this year. Anyone who thinks that this is the end could soon be proven wrong. Analysts expect significantly higher price targets. Prices are expected to be in the six-figure range by the end of 2025. The $300,000 mark could also be broken.
“$100,000 mark will cause FOMO”
Bitcoin’s all-time high is around $69,000. Just a year ago, very few people believed that this could be topped again. Today, the vast majority of experts believe that it is only a matter of time before Bitcoin rises to well over $100,000. According to analysts, reaching this psychologically valuable mark should ensure that FOMO (Fear of missing out) takes hold and that many more people invest in digital gold, which could cause the price to rise significantly higher.
I’d be very disappointed in bitcoin if this all the hype #ETF approval can bring.
This is years in the making.
FOMO kicks in when $100k gets sliced through.
Then the “#bitcoin is superior to gold”
narrative runs us to $200-$300k by end of 2025.
This is not FOMO.
The…
—Crypto Chiefpriest
(@CryptoCPriest) February 24, 2024
In fact, if Bitcoin reaches a new all-time high and then breaks the $100,000 mark, the media attention could cause the price to rise even further. After all, data from Google Trends shows that the search volume this year is much lower than in 2021, even though the price has now risen well above the $50,000 mark. An increase to $200,000 – $300,000 would be entirely conceivable.
ETFs are intended to drive up prices
In addition to the upcoming halving, which is carried out every 4 years and is due again this year in April, it could above all be the spot Bitcoin ETFs that are intended to ensure that the price rises even further. After all, exchange-traded funds have made it much easier for institutional investors to invest in the crypto market. Proponents have been waiting for years for such ETFs, which have already poured billions of dollars into the market since their approval in January of this year.
Two of the spot Bitcoin ETFs – those from Fidelity and BlackRock – are among the most successful ETFs ever, measured by capital inflows in the first 30 days. Even a month and a half after approval, demand is not decreasing, as the strongest day since market launch was recently recorded. Rising prices are also likely to lead to increased demand and this in turn will drive the price.
The introduction of spot Bitcoin ETFs also has far-reaching consequences for the entire crypto market. There is already speculation about a spot Ethereum ETF, and BlackRock, the world’s largest asset manager, has also submitted an application for such a fund to the SEC. If approved, the Ethereum price is also likely to rise significantly, as many companies could invest in cryptocurrencies through the Bitcoin ETF, but such an investment is not an option with their ESG values due to the high environmental impact. Ethereum, on the other hand, is considered a more environmentally friendly alternative, so demand could explode here too.
In addition to Ethereum, there are now also numerous other cryptocurrencies that not only offer high profit potential, but also focus on sustainability and are therefore very well received by investors. Projects like eTukTuk go one step further and not only impress with lower energy requirements, but also an active contribution to climate protection.
Find out more about eTukTuk now.
eTukTuk as a sustainable alternative?
eTukTuk is a project to significantly reduce CO2 emissions in developing countries such as Sri Lanka and India. The aim is to achieve this by gradually electrifying the millions of TukTuks on the road in many parts of the world. The small vehicles emit a lot of CO2 for their size, which not only harms the environment but also the health of the population. This problem will soon be solved with eTukTuk. Not only was an affordable electric TukTuk developed for this purpose – a charging network is also to be expanded, with the $TUK token being integrated as a means of payment.
Investors are enthusiastic about the idea of starting environmental protection where standards are significantly lower than here. The $TUK token is currently still available for pre-sale, with more than $1.3 million already sold. During the presale, investors have the great advantage that the price is increased several times, which means a book profit until it is listed on the crypto exchanges. After trading starts on the exchanges, a price explosion can quickly occur, which can bring early buyers returns of well over 1,000%. Especially as the expansion of the charging network progresses and $TUK can be used at more and more charging stations.
Get in now and buy $TUK in the presale.
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