It's big news indeed in the market that one trillion can be added to this market once the Bitcoin ETF gets approved. This statement is shared by CryptoQuant and now its kind of trending. It looks like a big number but looking at the market sentiment it will not be a big thing I believe because we have seen how the market was pumped even after fake news that spot etf was approved and within a few minutes Bitcoin Price was 30000 us dollars. It seems that the market is ready to flow more money into Bitcoin provided the ETF is approved by the authority and it is going to be big news if it happens.
It will not be a surprise I believe if the ETF can be the trigger for the next bull run in the market. Different people indeed share different opinions and different statistics of course but the overall scenario is positive towards the spot etf. The Bitcoin price is still low and it has the potential to grow in the next year after the halving this is the reason why the majority of people are expecting the next bull run in 2024.
Bitcoin will become a $900 billion asset, and the total crypto market will grow by $1 trillion, should the bitcoin spot exchange-traded funds (ETFs) be approved, data analytics firm CryptoQuant wrote in a recent report. The potential inflow from spot ETFs would be significantly larger than the money that entered the Grayscale Bitcoin Trust (GBTC) in the last bull market cycle.
Maybe we can say that institutional investors are waiting for the spot ETF approval and once it is approved then they will invest in Bitcoin considering it is going to be a much more valuable asset. If that is going to happen then probably now is the good time to accumulate more and if you can do then you never know if the market can get you significant profit in the long run. I'm not sharing any sort of financial advice here but what I'm trying to say is that this is the time when we need to keep our eyes open to see how the market is doing.
You invest or don't invest because it is completely your call but as far as the knowledge and updates are concerned then I believe it is important for us to keep an eye on it to see how things are moving ahead.
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