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Bitcoin To $200,000? Crypto Trader Lists 6 Reasons Tied to BlackRock’s Potential ETF Approval

An analyst and YouTuber suggested that if the highly anticipated Blackrock ETF receives the green light, Bitcoin’s (CRYPTO: BTC) value could soar to over $200,000, which represents a 663.873% increase.

Let’s explore the six compelling reasons that Crypto Rover presents to support this claim:

Reason 1: BlackRock’s strong ETF approval track record is one of the major arguments put forth by Crypto Rover in the history of BlackRock’s ETF approval rate. 

Reason 2: BlackRock’s Role during the 2008 financial crisis. During the 2008 financial crisis, the U.S. government and Federal Reserve sought guidance from BlackRock to navigate the turbulent times. “This demonstrates a high level of trust in Blackrock, the world’s largest asset manager,” the analyst said.

Reason 3: According to Crypto Rover, the CEO of BlackRock has expressed a favorable view of Bitcoin. 

Reason 4: In the past, BlackRock has already ventured into the world of cryptocurrencies by introducing a private Bitcoin ETF aimed at institutional investors. 

Reason 5: Rover highlights the existence and active trading of Spot Bitcoin ETFs in both Europe and Canada.

Reason 6: Finally, Crypto Rover draws attention to the fact that major asset management firms, including Vanguard and Fidelity, have also submitted applications for their own Bitcoin spot ETFs during this cycle.

Will The SEC Finally Approve Long-Awaited Bitcoin Spot ETF? Ask industry experts directly at Benzinga’s Future of Digital Assets event happening in NYC on Nov. 14, 2023. Be a part of the discussions where you won’t just be a passive spectator. Don’t let this chance slip away – secure early bird discounted tickets now!

See More: A Stay At The Floating Palace From James Bond’s ‘Octopussy

Why It Matters: The eagerly anticipated decision on spot bitcoin exchange-traded fund (ETF) applications has been met with a delay. 

The Securities and Exchange Commission (SEC) has postponed its decision until October, as revealed in filings by the agency on Thursday. This decision affects a range of applicants, including industry giants such as BlackRock, WisdomTree, Invesco Galaxy, Wise Origin, VanEck, Bitwise, and Valkyrie Digital Assets.

Price Action: At the time of writing, BTC was trading at $26,182.36, down 0.80% in the last 24 hours, according to Benzinga Pro.

Read Next: Here’s How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?

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