6-digit BTC price in 2024? Bitcoin Analyst Says $55,000 Is Now “Worst Case”

Bitcoin ETFs influx are shape A BTC price transformation that could see he exceed It is all the time tops This year.

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Bitcoin (BTC) has A new six digits price target For 2024 as institutional influx flood THE market.

In costs analysis on X (Previously Twitter) on Feb. 11, Ki Young Ju, CEO of analytic platform CryptoQuant, predicted $112,000 by bitcoin This year.

Bitcoin AND F to have power has send BTC price has $112,000

THE launch of THE United States' First of all place Bitcoin exchange traded funds (AND F) last month has open up raids For institutional capital.

CryptoQuant Ki agrees, with her last walk forecast considering THE impact of THE investment on Bitcoin accomplished cap.

Accomplished cap reflects THE AGGREGATE price has which THE BTC provide last moved. According to has CryptoQuant data, THE ETFs combined influx could add another $114 billion has THE existing $451 billion pointing This year alone.

“Bitcoin walk has seen $9.5 billion In place ETFs influx by month, potentially stimulate THE accomplished cap by $114 billion annual. Even with $GBTC outputs, A $76 billion increase could raise THE accomplished cap Since $451 billion has 527 to 565 billion dollars,” Ki commented.

Place Bitcoin ETFs assets, Bitcoin accomplished cap. Source: Ki Young Ju/X

THE job reference in progress exits Since THE Shades of grey Bitcoin Trust (GBTC), which ...