Peter Dunworth, who runs The Bitcoin Adviser, shared some great ideas about what might happen to Bitcoin in a recent chat. He thinks things are looking good, especially with the Bitcoin halving and other factors that could push the market higher.
Speaking on Dale Warburton's podcast “The Why Bitcoin Show,” Dunworth said some people wonder if Bitcoin's halving is already factored into the market price. He said that while technically that should be the case, he believes there are other considerations that could affect Bitcoin prices next year.
He highlighted that a Bitcoin exchange-traded fund (ETF) could be approved within the next year, which could lead to significant capital flows into Bitcoin ranging from $50 billion to $200 billion. It is estimated that there is. In addition, Dunworth cited the impending halving, an election year in the US, continued quantitative easing, and changes in interest rates as factors that could make the market bullish.
He said: “There are so many factors that are going to happen over the next 12 months that there aren't too many negatives about this. Because I think it's shaping up to be one of, if not the best deal I've ever seen. What are we looking at? Well, we're going to We're looking at approving an ETF within 12 months, which will free up at least $50 billion to $200 billion of capital. That's going to flow into Bitcoin.”
Dunworth encouraged people to be a little bolder and take advantage of Bitcoin's opportunities. He believes now is a good time to make smart long-term moves. The conversation touched on possible issues that could arise, such as delays in ETF approval or unexpected actions from regulators. They also talked about miners, the people who help create new Bitcoins, and how they will be affected by the halving.
Looking to the future, Dunworth estimated that Bitcoin could be worth between $125,000 and $150,000 by December 2024. He said this was just speculation and things could get even crazier in 2025.
