"Bitcoin ETFs Fuel Speculation of $112K Price Surge in 2022"
TL;DR Summary
CryptoQuant predicts that if the current trend of inflows related to spot exchange-traded funds (ETFs) continues, Bitcoin prices could reach $112,000 this year, with a "worse case" scenario of at least $55,000. CEO Ki Young Ju based these predictions on the effect of inflows on Bitcoin's market capitalization and a metric ratio that historically indicates if prices are "overvalued" or "undervalued." Spot Bitcoin ETFs have already amassed over 192,000 Bitcoin in holdings since their launch less than a month ago, attracting billions of dollars from investors seeking exposure to Bitcoin without direct ownership.
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