How High Can Bitcoin Go After BlackRock ETF Approval? (Jan 8th)

How high can Bitcoin go after BlackRock ETF approval? (Jan 8th)

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Timestamp:
0:00 – Something BIG is happening…
0:53 – How significant are the ETFs for Bitcoin?
2:13 – How scare is Bitcoin really?
3:20 – How high can Bitcoin go after ETF approval?
4:59 – After ETF explosion, what comes next?
6:52 – Now is the time to get bullish (here is why)
7:53 – Ethereum is ready

**Note: My overall opinion is that the name of the game is to accumulate as much Bitcoin as possible. Alts are interesting but a lot more speculative. I use them to accumulate more Bitcoin & Ethereum.

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I think that the institutional push into Bitcoin will be quite significant to the price it is the eve before the spot Bitcoin ETFs get approved Black Rock AR invest 21 shares bitwise vanc Wisdom Tree Invesco Galaxy Fidelity Valkyrie Global X hhex Franklin Templeton 11 plus spot Bitcoin ETFs all will be approved

By January 10th why January 10th because that is the final deadline for Arc invest in 21 shares I actually think the most likely date for all of these spot ETFs to get approval is January 8th that’s the Monday before the final deadline the 10th I think there’s a lot

Of reason to think that this is the most likely 2024 date to see these ETFs get approved mark your calendars for January 8th so how significant is all of this for bitcoin’s Price appreciation Kathy Wood is very bullish on bitcoin coin very optimistic that their ETF and everybody’s ETF will get approved here

She explains just how huge just how significant huge demand to a scarce asset will cause price to explode listen I think that the institutional push into Bitcoin will be quite significant to the price in fact uh in our price expectations going forward the biggest contributor is institutions as they move

You know they don’t have to move very much in they can move there are trillions of dollars in assets to be allocated if they just move in 0.1% forget about 1% but even 0.1 or 0.2% that will move the needle especially as uh as we know the number

Of Bitcoin outstanding right now uh is about 19 A5 million and the the fur further that number the furthest that number is going to go is 21 million so the scarcity value as institutions move in uh will begin to move the price we believe so how scarce is Bitcoin really

How scarce is Bitcoin have you ever thought about this so the total Bitcoin in the world divided by the total population of the world is24 19.5 million Bitcoins 8 billion people given that a Bitcoin currently costs about $43,000 there are only enough Bitcoins for every person to have about $100

Worth if the Bitcoins were distributed actually using the global distribution of wealth so how much wealth you have versus everybody else’s wealth equals how much Bitcoins you get 99.9% of people would have about $20 would get about $20 worth of bitcoin and the people in the top 00 1% the top most

Upper echelon of people would only have 73 Bitcoin each there’s not even enough for them to accumulate one Bitcoin this reminds me of that famous Satoshi Nakamoto quote it might make sense just to get some in case it catches on if enough people think the same way that

Becomes a self-fulfilling prophecy so if you like me understand all of this if you take all of this supply versus demand discussion to be true let’s talk numbers how high can we reasonably expect Bitcoin to run after an ETF approval price prediction perryan boring of the Chamber of digital Commerce

Fighting for positive regulation in the US explains how high Bitcoin is going to go just that that marginal demand that is out there do you have any numbers or or figures in terms of just the the people who haven’t been able to get exposure to this asset class that may

Soon want to yeah we use valuation models to try to understand what is the value of Bitcoin today we all know what the price is it’s what it’s trading for on exchanges uh which operate 247 but the real question that we need to understand investors need to understand

Is what is the value we use four different valuation models today it has the price of Bitcoin currently valued between 100,000 and 210,000 per Bitcoin uh the we also apply a as an s-curve analysis to look at the long-term adoption of Bitcoin currently about 40% of us households have already

Allocated and own some form of cryptocurrency today we are on track for 90% adoption by 2029 once we hit that 90% adoption prices could go as high as $1 million a coin because again Bitcoin has that limited Supply which is a key feature of this technology these spot

ETFs will create huge buy side demand this is true we have never seen the size of trefi demand like we will see with these ETFs they will be the biggest buyers but I’m actually even more excited about what this means for crypto adoption at large chainlink founder Sergey nazarov explains this pay

Attention to the concepts he articulates at the end this is what happens next I think based on the size of the folks looking to make these ETFs and there user base um I think it could be quite significant for our industry as a whole um I think it’ll show very clearly that

Trafi is a very big player in the blockchain space and in the defi space my view has always been that trafy the traditional Capital markets are actually the biggest net buyer the biggest net customer of things like Bitcoin that will begin to take shape more and more through things like the Bitcoin

ETF I think though it’ll go very far beyond that because uh fundamentally this technology is about creating better transactions more transparent transactions less risky transactions more high quality relationships between counterparties which is fundamentally what the entire banking Capital markets and asset management sectors are really

About and so I think the Bitcoin ETF is an efficient initial step where the bigger players in the capital markets allow folks to access cryptocurrencies but I think they will then go on to make more and more Advanced Financial products of their own and eventually even Define their own decentralized

Finance protocols that interact with the decentralized finance protocols on public chains and this is where our infrastructure comes in to create that connectivity and interaction both among web 3 protocols among Capital markets protocols and very importantly between web 3 and capital markets now is the time to get bullish with all spot ETFs

Continuing to have conversations with the SEC continuing to make moves and refile with this metric flashing by for the first time in bitcoin’s history ever check out this video if you haven’t already number one secret bitcoin price chart nobody’s talking about seriously this has never happened with Bitcoin

Before check out this video If you haven’t yet with the grayscale discount or premium going from – 43% when Black Rock filed for the spot Bitcoin ETF in mid June to now less than 6% gbtc the grayscale Investment Trust which prior to these ETFs has been how traditional

Trafi has got exposure to bitcoin thus far it’s been at a discount for so long the point is now that this is getting out of its discount grinding up towards a premium once again historically speaking every time this happens the Bulls are back the bull market is on

This is very bullish same thing with ethereum as well grayscale eth discount had a discount of 60% now it’s only -33% in just a year this is grinding up too if the trend continues buying pressure could start flowing to spot eth plus there are three more bullish catalysts

Eth ETF the big upgrade Q oneish reaking Plus lrts will boost eth yield I would say that this is ethereum’s final big upgrade the fact that this is happening in a bull market is significant The Narrative alone could send interest to eth and ethereum generally steps into

The spotlight in January and it doesn’t look like this month will be different various altcoins are at resistance on their e Pairs and ethusd looks fantastic too bring on the Redemption rally and I don’t see any Bitcoin maximalists talking about this ethereum just flipped Bitcoin for longterm as in onee plus

Holder percentage very bullish for both coins post this video on social media send this video to a friend who needs to learn about Bitcoin and ethereum guys we post one video every day keeping you informed giving you an edge in the cryptocurrency space if you’re interested in making money in

Cryptocurrency subscribe to the channel see you tomorrow