Apollo's Co-Founder claimed that Bitcoin (BTC) could rise as high as $5 million. This forecast is supported by growing institutional interest and important market developments. Echoing Michael Saylor's positive views, Apollo's Co-Founder described the "holy trinity of bullish catalysts" in Bitcoin history. These catalysts could lead to a significant increase in Bitcoin's value.
The Holy Trinity of Taurus Catalysts
Apollo's Co-Founder, Michael Saylor, emphasized the increasing institutional interest in Bitcoin and stated that Bitcoin could reach $5 million. Saylor described Wall Street, the House of Representatives, and the Senate's interest in Bitcoin as the "holy trinity of bullish catalysts." This supports Bitcoin's acceptance among major financial and government institutions and its place in the mainstream.
Apollo's Co-Founder pointed out three main factors that will affect the price of Bitcoin. First, the approval of spot Bitcoin Exchange Traded Funds (ETFs) will provide a regulated investment avenue for investors and encourage massive capital inflows into the market. This could bring accessibility and legitimacy to Bitcoin, increasing its market value.
Second, the Financial Accounting Standards Board's (FASB) implementation of fair value accounting rules for digital assets will enable companies to report Bitcoin holdings at real-time market prices. This could increase transparency and increase interest from institutional investors in Bitcoin.
Latest Status and Technical Indicators in Bitcoin
Bitcoin has found strong support above the $60,000 level in recent weeks. Cryptocurrency, whose market value has reached 1.2 trillion dollars, is moving towards the resistance level of 70 thousand dollars. Technical indicators offer a positive outlook for Bitcoin. The Relative Strength Index (RSI) is at high levels, indicating buying pressure.
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So who will benefit?
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I EXPLAIN IN DETAIL.
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