Posted 12/15/2023, 12:03:36 PM
Bitcoin Price Trails Projections Due to Macro Events; $100K Still Possible with Spot ETF Approvals
- Bitcoin's price is trailing projections due to macro events like COVID-19, inflation, and regional conflicts
- Investment managers sold Bitcoin to raise cash to cover losses, adding sell pressure
- Most major bankruptcy/contagion events impacting crypto prices have concluded
- Bitcoin could still hit $100k pre-halving; spot BTC ETFs could also drive significant inflows
- Large funds can't directly buy crypto but can buy BTC via an ETF