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Analysis: Every 10,000 BTC added to ETF holdings can push up the average price by 1.8%, and may rise to $150,000 in October
Odaily News Research firm Cooper Research released a report pointing out that as investors pour a lot of money into Bitcoin exchange-traded funds, the rise in Bitcoin prices seems inevitable. Data shows that for every 10,000 BTC increase in ETF holdings, the price of Bitcoin can rise by an average of 1.8%. Analysts pointed out that from a series of data indicators, Bitcoin seems ready to rise sharply again. The leverage-driven market frenzy is gradually fading. Bitcoins price trend may take a more moderate path, and it is expected to reach $140,000 in September, or as early as $150,000 in early October. (Decrypt)
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