Blink, and you could just pass over the most recent Bitcoin fireworks. Markets are humming and every crypto group chat is active with the much-discussed spot Bitcoin ETF approval here at last. Investors want to know: will this ETF launch rocket us sky-high or leave us grounded? They are ravenous for a consistent Bitcoin price prediction.

Let us cut through the babble. The approval of the ETF is not only showy financial engineering or flattery. Actually, it opens the Bitcoin gates to a pool of institutional money once imprisoned behind legal barriers. Not only are BlackRock, Fidelity, Ark, and other Wall Street behemoths looking at a piece of pie; they also formally sit at the digital gold table. Over $4 billion has already gone into these ETFs in just a few weeks as of January 2024, thanks mostly to Grayscale’s converted GBTC.
When new financial vehicles first arrive, history offers hints. When gold debuted its first US ETF in 2004, it set off a three- hundred percent increase in the next years. Though the historical rhyme is difficult to ignore, Bitcoin is not gold. Would Bitcoin be able to replicate this impact? Perhaps, but there’s subtleties.
We have already observed increased volatility in the immediate following the approval. As eager purchasers collided with early profit-makers, Bitcoin broke $48,000, retraced, then leapfroggered $50,000. The price did not soar over night, therefore disappointing those retail investors who had stocked ahead of time. Still, the “buy the rumor, sell the news” crowd is a wild one.
The actual game could take several months to develop. Standard Chartered and Bernstein analysts estimate inflows would finally reach $50 billion in 2024 alone. Based on consistent investment inflows and significant macro events, their positive Bitcoin price forecasts hang between $100,000 and $120,000 by year-end. JP Morgan tempers this perspective, however, cautioning of possible short-term corrections and Grayscale outflows of oversupply.