Bitcoin could reach as high as $50,000 this month if the Securities and Exchange Commission (SEC) approves the first spot Bitcoin ETF, says Lucas Kiely – the analyst and Chief Investment Officer of Yield App.
Lucas believes that the SEC will likely approve the spot Bitcoin ETF in January. He adds that there is “too much pressure and expectation” from the biggest asset managers on Gary Gensler and the approval committee.
While a recent report from Matrixport stated that the SEC will reject all applications, Lucas said that such reports citing the opposite news of ETF approval should be ignored, adding that “bitcoin will take $50,000 by the end of January and we will see a record print of BTC this year.”
Also Read: Bitcoin’s Price Surges on Hopes of Imminent ETF Approval
