Tom Lee of Fundstrat has recently forecasted the introduction of Bitcoin-ETFs on the US market could push the cryptocurrency’s price up to a whopping $185,000.
Bloomberg analysts predict that there is a 75% chance that the US Securities and Exchange Commission (SEC) will approve such an instrument.
K33 Research further suggests that these Bitcoin spot ETFs could bring in up to 100,000 BTC in the US, with at least 30,000 over the first ten days.
The analytical company further pointed out that after the ETFs launch in Canada in 2021, a whopping 58,000 BTC had been collected in only four months, resulting in an aggressive price surge due to the influx of institutional investors.
He concluded that after the introduction of the Bitcoin ETFs on the US market, the price could likely reach $42,763 in four months.
