Re: How high do you think Bitcoin will go on the next bull run?
I think this stable period will last through a good part of next year, unless something big happens. The only thing that could cause 100k$ in next few months is approved ETF from VanEck SolidX Bitcoin Trust, and since it is physically backed with BTC, demand should go up along with the price. But it seems that the chances for that are not too big, SEC is still cautious and a positive decision would be really big surprise.
it doesn't particularly matter if the trust is physically backed with BTC. it could be backed by futures contracts that settle at USD equivalent---the price should still generally reflect the spot market due to arbitrage. this is why cash-settled futures don't deviate that much from spot.
i don't understand why ETF approval would trigger a new bull run. people keep saying that, but nobody can explain why. this is like the ghost cities in china---you can build all the houses you want, but it doesn't mean anyone wants to buy them.
this is called "putting the cart before the horse".
