Bitcoin Price Can Shatter $310,000 Per BTC If Institutions Make One Move

Woo says BTC’s price could go as high as $398,000 but it would depend on the timing of the capital deployment.

“It would really depend on whether they deploy in a bearish or bullish phase of the market but the range would be between $128,000 – $398,000. Right now it’s $310,000.

Methodology is via measuring market cap increase vs realised cap increase.”

Woo’s comments come following BlackRock and Fidelity’s filings for a spot Bitcoin exchange-traded fund (ETF), which were reportedly deemed inadequate by the U.S. Securities and Exchange Commission (SEC).