{"id":21919,"date":"2023-06-29T01:35:35","date_gmt":"2023-06-29T01:35:35","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-could-go-to-398000-after-blackrock-etf-analyst-says\/"},"modified":"2023-06-29T01:35:35","modified_gmt":"2023-06-29T01:35:35","slug":"bitcoin-could-go-to-398000-after-blackrock-etf-analyst-says","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-could-go-to-398000-after-blackrock-etf-analyst-says\/","title":{"rendered":"Bitcoin Could Go to $398,000 After BlackRock ETF, Analyst Says"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Speculation has been brewing in the world of cryptocurrency ever since BlackRock submitted its most recent application<\/a> for a Bitcoin Exchange-Traded Fund (ETF). The action has sparked a discussion among market watchers about the possible entry of large institutions into the Bitcoin space.<\/p>\n

The largest U.S asset managers, which also includes Fidelity, JPMorgan and Goldman Sachs control an impressive total of over $27 trillion in assets.\u00a0 As the conversation heats up, many are beginning to wonder: what would happen to the price of Bitcoin if even a small fraction, say 5%, of these managed assets were directed towards it? Popular on-chain analyst Willy Woo stepped into this Twitter-based debate to offer his expert insight.<\/p>\n

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Woo\u2019s prediction wasn\u2019t straightforward. He emphasized the crucial factor of market phase at the time of asset redirection. Whether the market is in a bearish or bullish phase would significantly impact the final outcome. However, he estimated a price range between $128,000 \u2013 $398,000 per Bitcoin<\/a>. At the time of his statement based on analysis and methodology, his expected price was at $310,000. His methodology involved comparing increases in market cap against the realized cap.<\/p>\n

The Complexities of Asset Management<\/h2>\n

Woo\u2019s statement prompted reactions from other market analysts, leading to a deeper exploration of the complexities of asset management. One individual pointed out that organizations like BlackRock can\u2019t arbitrarily decide to channel a portion of their assets under management (AUM) into Bitcoin. After all, they handle investors\u2019 money, and investment decisions ultimately lie in the investors\u2019 hands.<\/p>\n

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In response to this, Woo offered a nuanced viewpoint. He pointed out that wealth management can be split into two categories. Some investments are investor-driven, while others are decided by the wealth manager. So, it is a blend of both parties\u2019 decisions. Hence, while BlackRock and other asset managers can\u2019t unilaterally move a portion of their AUM into Bitcoin, they still possess some degree of discretion.<\/p>\n<\/p><\/div>\n

Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) Speculation has been brewing in the world of cryptocurrency ever since BlackRock submitted its most recent application for a Bitcoin Exchange-Traded Fund (ETF). The action has sparked a discussion among market watchers about the possible entry of large institutions into the Bitcoin space. The largest U.S […]<\/p>\n","protected":false},"author":5,"featured_media":21920,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/21919"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=21919"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/21919\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/21920"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=21919"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=21919"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=21919"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}