RobertBinance
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RobertBinance
A noob who only love CRYPTO
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THE KING $BTC TO $𝟓𝟎𝟎,𝟎𝟎𝟎 BY 2030 🚀
A lot of people are expecting a spot #Bitcoin approval by 2024 for .
Given that BlackRock and other big hedge funds have applied for them and they have a high ETF approval rate.
Some people are also comparing #BitcoinETF approval to Gold, which pushed Gold to a new ALL TIME HIGH and beyond.
So let's do some math and see what happen if the Bitcoin ETF gets approved and BTC follows the same path as gold follows.
The first gold spot ETF in the US 🇺🇲 was approved in November 2004, when gold was trading at $420 per ounce.
The market cap of gold in 2004 was around $2.16 Trillion.
In September 2011 gold peaked at $1900/ounce, and its Market Cap at the time was around $10.5 Trillion🔥
These are approximate numbers, as the exact total supply of gold is unknown, unlike BTC.
Now, let's compare this with Bitcoin and see what will happen to the #BTC price if it hits the $10.5 trillion MCap.
Current MCap of BITCOIN: $518B
#Price: $26,700
To hit the $10.5T MCap
🔥 $BTC needs to go up by 20.2X, which will send its price to 541,216 💵
One thing to note here is that when Gold ETF was approved, its Market Cap was already $2.1 Trillion, while Bitcoin's Marker Cap is $517 Billion.
But given the growth potential of $BTC it's possible that BTC can hit $500k by 2030
And we could even see a bull market that will not be a typical 4-year cycle but a supercycle that could last more than 6-7 years.
This prediction is completely data-based.
#NFA #DYOR
A lot of people are expecting a spot #Bitcoin approval by 2024 for .
Given that BlackRock and other big hedge funds have applied for them and they have a high ETF approval rate.
Some people are also comparing #BitcoinETF approval to Gold, which pushed Gold to a new ALL TIME HIGH and beyond.
So let's do some math and see what happen if the Bitcoin ETF gets approved and BTC follows the same path as gold follows.
The first gold spot ETF in the US 🇺🇲 was approved in November 2004, when gold was trading at $420 per ounce.
The market cap of gold in 2004 was around $2.16 Trillion.
In September 2011 gold peaked at $1900/ounce, and its Market Cap at the time was around $10.5 Trillion🔥
These are approximate numbers, as the exact total supply of gold is unknown, unlike BTC.
Now, let's compare this with Bitcoin and see what will happen to the #BTC price if it hits the $10.5 trillion MCap.
Current MCap of BITCOIN: $518B
#Price: $26,700
To hit the $10.5T MCap
🔥 $BTC needs to go up by 20.2X, which will send its price to 541,216 💵
One thing to note here is that when Gold ETF was approved, its Market Cap was already $2.1 Trillion, while Bitcoin's Marker Cap is $517 Billion.
But given the growth potential of $BTC it's possible that BTC can hit $500k by 2030
And we could even see a bull market that will not be a typical 4-year cycle but a supercycle that could last more than 6-7 years.
This prediction is completely data-based.
#NFA #DYOR
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