How High Could BTC Surge When Spot BTC ETF Is Approved

The predictions about Bitcoin’s price keep flowing in the crypto space, especially since we are ahead of the BTC ETF acceptance. Check out the latest price predictions here.

At the moment of writing this article, the BTC price exploded, and now BTC is trading in the green, and the coin is priced at $29,771.

It has been just revealed that according to an expert opinion, BTC could revisit levels last recorded in November of 2021 if the U.S. Securities and Exchange Commission approves a spot Bitcoin (BTC) exchange-traded fund (ETF).

The popular analyst known as DonAlt told his subscribers of the TechnicalRoundup YouTube channel that Bitcoin could appreciate by over 100%. When could this happen? Well, in case spot Bitcoin ETF is greenlighted in the US.

“I think $60,000 is a reasonable target if we get the ETF. Now obviously not in the short term, but that’s kind of where I think this could go. I think between $60,000 and $100,000 is the upper end.”

He continued and said the following:

“It’s just a strong fundamental kind of shift in the narrative… if you get an ETF, that’s kind of like a go-ahead sign… it’s a little bit of a go-ahead sign from the US government which just gives this entire space a little bit more legitimacy.”

He also stated the fact that BTC would probably not revisit those levels unless Binance, the most important crypto exchange, collapses.

“Unless you think Binance is going to go down, I don’t think there’s any way we manage to get back to $16,000. Like if Binance goes down, fair enough, then you get to buy like $12,000. I think that’s going to be the pico bottom, doesn’t go any lower than that.

But if Binance doesn’t go down, I don’t think we manage to get to $16,000. I think $20,000 is kind of crazy low at that point already.”