NewsletterBitcoin ETF Approval: Nic Carter Warns Against BTC Price Rally Hype
In the midst of widespread anticipation for the approval of a Bitcoin exchange-traded fund (ETF) in the United States, Bitcoin supporter Nic Carter forecasted a potential surge of almost 100% in Bitcoin (BTC) price from its existing level of $40,000 by the year 2024.
Also Read: Invesco, WisdomTree, Fidelity, and Bitwise Update S-1 Filings; JPMorgan in Spotlight as AP
BTC At New All Time High In 2024
In line with the views of banking giant Standard Chartered, Carter said the BTC price could touch the $80,000 mark sometime in 2024. It remains to be seen if the new all time high of $80,000 range would be momentary or sustained with strong support. However, this prediction apparently banks on whether or not the US Securities and Exchange Commission (SEC) approves the spot Bitcoin ETF filings for the likes of Blackrock, Valkyrie, Invesco, WisdomTree, Fidelity, and Bitwise.
In the latest form S-1 amendment filings, BlackRock and Valkyrie revealed that Jane Street and JP Morgan will act as their Associated Partners respectively. This comes following JP Morgan chief executive officer Jamie Dimon’s statements calling for a ban on Bitcoin usage in the United States.
No ETF Led Boom For Bitcoin Price?
Nic Carter cautioned against the wider market sentiment that the potential Bitcoin ETF approval may lead to a significant BTC price rally, despite his forecast of the top cryptocurrency reaching $80,000 in 2024. As part of an overall crypto roundup of predictions for 2024, he predicted,
“Bitcoin is flat week of ETF approval but touches $80K in 2024.”
He also predicted that the Bitcoin ETFs would attract as much as $20 billion worth of flows into the crypto ecosystem in just an year’s time. Earlier, CoinGape reported Carter’s views on the high confidence among traders and investors on the chances of approval of spot Bitcoin ETFs. Meanwhile, crypto stocks like Microstrategy (MSTR) Stock Price and Coinbase (COIN) Stock Price have been showing high correlation to the Bitcoin price upside in recent weeks.
Also Read: Changpeng Zhao’s Legal Battles Intensify; Court Blocks International Travel
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- BlackRock Bitcoin ETF Ranks Among Top ETFs In 2025 Despite Crypto Downturn
- Stablecoin Adoption Deepens as Klarna Turns to Coinbase for Institutional Liquidity
- Ripple, Circle Could Gain Fed Access as Board Seeks Feedback on ‘Skinny Master Account’
- Fed’s Williams Says No Urgency to Cut Rates Further as Crypto Traders Bet Against January Cut
- Trump to Interview BlackRock’s Rick Rieder as Fed Chair Shortlist Narrows to Four
- Will Solana Price Hit $150 as Mangocueticals Partners With Cube Group on $100M SOL Treasury?
- SUI Price Forecast After Bitwise Filed for SUI ETF With U.S. SEC – Is $3 Next?
- Bitcoin Price Alarming Pattern Points to a Dip to $80k as $2.7b Options Expires Today
- Dogecoin Price Prediction Points to $0.20 Rebound as Coinbase Launches Regulated DOGE Futures
- Pi Coin Price Prediction as Expert Warns Bitcoin May Hit $70k After BoJ Rate Hike
- Cardano Price Outlook: Will the NIGHT Token Demand Surge Trigger a Rebound?
