I still believe that ETF effects on bitcoin price has been greatly exaggerated, although it will definitely have a positive effect on the price.
Do you believe that $500,000 per Bitcoin is merely an exaggeration by 2025 - 2026 considering Bitcoin's trajectory?
In any case when it comes to the next big rise, as I've said before the global economy is the major factor affecting the market for now. The rising inflation was excellent for bitcoin but then recession started and ruined its effects. Now they are trying to reach an equilibrium which is why we don't see rise (or fall) start.
The context of the topic is how Gold's ETF during 2003 helped started a strong surge on its price and it's trading near its ATH despite going through different economic crashes. It could probably happen for Bitcoin too, no?
But the inflation is still rising very fast and its effects on bitcoin price is growing. After all this fast growing national debt[1] due to nonstop money printing is bound to push bitcoin price up. $32.5 trillion US debt, $14.5 trillion Chinese debt, $13.5 trillion Japanese debt, and so on. US alone printed over a trillion in the past couple of months ever since the debt ceiling was raised.
In other words 6 digit price is definitely possible in the next major bull run.
[1]
https://www.usdebtclock.org/world-debt-clock.htmlLong term, maximum zoom out = YES.
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