*The hectic approval of the first spot Bitcoin ETFs in the United States on January 10 triggered severe volatility in the cryptocurrency’s price. *
It soared to around $49,000 on January 11 but dipped below the $45K level shortly after. In the past few days, BTC has been trading between $40,000 and $42,000 (per CoinGecko’s data).
Despite the ongoing bearish trend, numerous prominent figures remain optimistic that the following months and years will be successful for the asset. Robert Kiyosaki, a well-known investor and author of the bestseller “Rich Dad Poor Dad” – recently predicted that BTC is heading toward the $150,000 mark.
Fundstrat’s Tom Lee and the popular X (Twitter) user PlanB were even more bullish. The former forecasted that Bitcoin could explode to $500,000 within five years. PlanB claimed that the stock-to-flow model predicts a price of $532,000 after the halving.
On the other hand, skeptics like Peter Schiff envisioned a further slump for Bitcoin. The economist recently maintained that Gary Gensler (Chairman of the US SEC) gave the thumbs up to the spot ETFs after being “backed into a corner.” As such, he expects him to implement soon “new onerous crypto regulations” that could increase the cost of BTC transactions and negatively impact the asset’s price.
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