By: Eva Baxter
January 11, 2024 marked the launch of the first U.S. Bitcoin spot ETFs, an eagerly anticipated event that drew significant attention from crypto experts. Among them was Alex Fazel from SwissBorg who shared valuable insights into the potential impact of this development on Bitcoin's price, mirroring the effect of the gold ETFs introduced in 2004.
Some experts believe that substantial inflow into Bitcoin from the ETFs will drive a price increase, with up to $600 billion expected to flow into Bitcoin over an 18-24 month period. But this prediction does not take into account any potential selling pressure on Bitcoin.
A heated discussion also arose regarding the parallels between crypto and traditional market cycles, with most agreeing that while crypto follows a similar four-phase cycle, its fall or distribution phase is notably shorter.
Despite the differing opinions, there is consensus that this is a landmark moment for Bitcoin and could play a significant role in its path to mainstream adoption. Experts predict that the current bull cycle is likely to last another 12-18 months, with Bitcoin prices potentially reaching a peak of between $100,000 to $500,000.
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