While the U.S. Securities and Exchange Commission (SEC) is yet to take a decision on the much awaited rule change on the listing of a spot Bitcoin exchange traded fund (ETF), the Bitcoin (BTC) price continues to be on the rising curve. The potential approval of the first ever spot Bitcoin ETF and the Bitcoin Halving makes it an optimistic case for investors and traders to expect further gains.

Also Read: US SEC Probing If CZ Still Has Access To Binance US Funds: WSJ

Dan Tapiero Sees BTC Price At $100K

Macro guru and investment manager Dan Tapiero expressed bullish sentiment around Bitcoin, come the next bull run. While several popular investors have already predicted BTC price to be in the range of $500,000 and $1 million over the course of the current decade, Tapiero has a conservative estimate of $100,000 in the next few years. This means the next bull run should give a jump by a multiple of three times, from the current level of under $40,000. Tapiero reportedly said that the next bull run would be in 2025, when the top cryptocurrency could reach above $100,000.

“I think this next bull run into 2025 we will see Bitcoin over $100,000. I think that’s a pretty conservative estimate.”

With the Bitcoin Halving event set to occur in early part of the second quarter of 2024, widespread expectations around a potential BTC price rally are supported by price trends around the previous Halving events.

Spot Bitcoin ETF: Approval Imminent?

Earlier, CoinGape reported that BlackRock representatives had recently discussed with US SEC officials on its spot Bitcoin ETF application. Also, news has been around that the SEC officials met representatives from various crypto exchanges on the proposed rule change involving spot ETF approval. Does it mean the mass approval of spot Bitcoin ETF applications is imminent in the next few months?

Also Read: XRP Ledger (XRPL) NFT Upgrade Goes Live on Mainnet

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Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1,200 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at [email protected] or twitter.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.