The main condition for bitcoin’s growth to $ 180,000 in 2014 is named

The price of the flagship crypto asset could soar to $ 180,000 per coin by April 2024, analysts at Fundstrat have said in a recent report. Experts believe that the first cryptocurrency will grow by 521% before the BTC halving.

The emergence of a spot bitcoin ETF can significantly increase the daily demand for the main cryptocurrency. «We expect the bitcoin ETF to attract new investors and create increased demand for BTC,» Fundstrat said.

The company’s analysts believe that spot bitcoin ETFs can eclipse the precious metals market, which has assets of almost $ 230 billion. In the future, the amount of spot bitcoin ETFs could reach $ 300 billion, experts believe.

The U.S. Securities and Exchange Commission (SEC) has officially accepted several applications from companies seeking to register a spot EFT for bitcoin. First, the agency received an application from the race favorite Blackrock, and the second from Valkyrie. Later, the regulator accepted applications from Bitwise, VanEck, WisdomTree, Fidelity, and Invesco. The confirmation has already appeared in the Federal Register.

It is worth noting that Bernstein brokerage recently published its own report, where it said that the probability of regulatory approval of a spot bitcoin ETF is «quite high.» However, according to brokers, the SEC may refuse, citing the unreliability of the product.

As of the morning of July 26, the flagship cryptocurrency was able to rise by 0.4%. At the moment, bitcoin is worth $ 29,257. The total number of coins circulating on the market is $ 614.4 billion. Traders executed daily trading deals worth $ 10.6 billion, a drop of more than 27%. The market share of BTC is 48.3%.

It should be added that bitcoin was predicted to fall to $ 19,000. Crypto trader Nebraskan Guner emphasized that a decline in the BTC rate «seems very likely.» «Don't get euphoric. If the rate drops below $ 27,000, we will reach the range of $ 19,000-$ 23,000. This is quite realistic. Play with BTC at different levels,» the strategist emphasized.