Bitcoin plummeted to $8900 on Bitmex, shocking many as someone unloaded over 400 Bitcoin, triggering the steep decline. The sudden volatility must be keeping ETF managers in America on edge. With Bitcoin’s ability to swing dramatically, it’s probable that the VIX is preparing for some significant movements as well.
JPMorgan, has some thoughts about Bitcoin’s price. They say that after April, the price of Bitcoin might go down to $42,000. They got this idea by looking at the history of Bitcoin’s production cost. This cost has usually been a kind of floor for Bitcoin’s price. The bank thinks that after something called the halving, the production cost might drop to $42,000.
BlackRock and Fidelity now hold 331,560 BTC, with a total value exceeding $23.4 billion for their spot Bitcoin ETFs.
Bernstein, a prominent financial research firm, has recently made a bold prediction regarding the future of Bitcoin, foreseeing its price climbing to an impressive $150,000.
Standard Chartered predicts Bitcoin will rally to $150,000 by the end of this year and could potentially reach $250,000 by 2025.
CEO of Grayscale mentions that fees for its Bitcoin ETF will decrease gradually as outflows surpass $12 billion. This substantial outflow from Grayscale’s GBTC, converted into an ETF in January, is largely attributed to its fees being higher than average.
