CoinShares CSO shared her point of view on Bitcoin and claimed that there are many factors, which will act as a catalyst to push the price of Bitcoin to hit $100k this year.
After huge pump and dump because of China’s ban & Elon support & unsupported nature since one year, Bitcoin’s current price is $47,700 which is not a bad number. But analysts, experts of Bitcoin traders and believers see that Bitcoin may repeat history of October again and can touch another height soon.
In the latest Meltem Demirors, Chief Strategy Officer at digital asset investment firm CoinShares, shared her point of view on Bitcoin price and claimed that Bitcoin may pump by the end of this year. Meltem appeared in the interview of CNBC’s Fast Money show.
In the interview, Meltem pointed out the first catalyst which is responsible for the Bitcoin price pump is Bitcoin ETFs products approval.
“we’re hearing rumblings around a potential Bitcoin ETF approval. That would be cashed-settled contract based ETFs… That’s a big catalyst for looking at in Q4”
Meltem further asserted that there are many people ( investors and companies) are sitting to get Invest in Bitcoin to grab huge profits. And the current situation is much positive for bitcoin and there is no negative sign existing.
Meltem also explained that Investors may enter into the bitcoin vehicle through the publicly listed firm ( obviously Bitcoin ETFs products) or platforms which are providing direct assets Investments like Square, Strike, Coinbase, Robinhood etc.
She further pointed out the matter of China and claimed that already China banned 13 times through their notification, and now they are almost moved out from this market, so no more impact will be seen from their end.
So Meltem believes that such factors Will act as catalyst to pump Bitcoin in Q4 2021.