$BTC Bitcoin Price Could Rise to $280,000 in 3 Years because of ETF!

Bitcoin Price Could Rise to $280,000 in 3 Years due to ETF

Bitcoin Price Could Rise to $280,000 in 3 Years due to ETF

Published 03/14/2024 07:56

JMP Securities analyst delivers an interesting prediction on the price of Bitcoin (BitfinexUSD). The investment firm indicated that Bitcoin prices could potentially surge to $280,000 in the next three years, driven by anticipated Bitcoin ETF inflows.

This bold estimate, as expected, attracted interest and sparked debate regarding the impact of ETF inflows on Bitcoin prices.

Bitcoin prices soar

Bitcoin has seen an incredible surge over the past year or so, with prices continuing to rise through 2023 before surging in late January and throughout February 2024. The SEC's long-awaited approval of the Bitcoin Spot ETF in January helped its price rise.

This significant increase in the value of Bitcoin has caught the attention of investors and financial experts once again, sparking discussions about the potential implications for the crypto market in the coming years.

Bitcoin ETF inflow forecast

JMP Securities analysts estimate $220 billion flowing into Bitcoin ETFs over the next three years. This is a multiple of what has been experienced.

The firm is quite bullish on the prospects of a spot Bitcoin ETF and its implications for the broader crypto market, and while they appreciate that there has been a step in engagement from the industry following the launch of the ETF, the firm argues that the activity and flows experienced thus far “are likely still a the tip of the iceberg."

"We estimate that after fund flows of ~$10 billion to date, two months after launch, fund flows will continue to grow materially over the next several years as ETF approval is just the beginning of a longer capital allocation process," JMP said.