Crypto Banter analyst Ran Neuner updated his Bitcoin price forecast on the axis of ETF news, which has been on the agenda of the market since June 15.
Ran Neuner keeps Bitcoin price forecast positive after ETF news
Market players have ignited discussions about institutional interest in the crypto economy after Blackrock filed for a spot Bitcoin ETF. For some, the applications were a critical development that would reawaken institutional interest. Others speculate that this move could be a “coordinated attack.” He suggests it happened shortly after the first wave of apps known as “Chokepoint 2.0” targeting the crypto market in some people.
At this point, Ran Neuner stated that he believes Blackrock is not malicious despite the rumors and criticism circulating on social media. Some crypto enthusiasts are skeptical of the details of Blackrock’s ETF filing. Noting that there is talk of a hard fork here, they suggest that Blackrock could take control of Bitcoin. This leads to speculation that the Bitcoin Blockchain will split. “To be honest, it’s not a theory that worries me,” Neuner says.
Neuner also said, “Whether one party owns all Bitcoin or not does not decentralize Bitcoin. “The only way this could change is if more than 50 percent of the world’s miners agree that the rules need to change… Irrespective of who owns Bitcoin, mining is still decentralized.”
‘Halving and ETF could double Bitcoin price’
The analyst said that Blackrock’s spot Bitcoin ETF, coupled with the halving scheduled for April 20, 2024, heralds the bull. Additionally, he noted that the price could potentially reach “much higher” levels, doubling its value.
He continued, “I’m just being conservative. I think the Blackrock ETF can change the rules of the game. If you buy a Bitcoin spot ETF, you now really unlock all that money coming into crypto with an easy way to access that asset.”
BlackRock is trying its hand at potentially getting the first spot-Bitcoin ETF launched in the US https://t.co/8VsY88TFvi
— Bloomberg (@business) June 16, 2023
While Neuner’s theory is plausible, complaints came after a spot gold ETF was approved by the US in 2004, as it faced accusations of price manipulation and suppression. In the interview, he made statements stating that the US Start candidates support Bitcoin (BTC). Neuner sees the growing number of candidates ratifying BTC as a positive development that brings the issue to the fore.
Finally, the analyst said, “Hats off to the ring, most of the candidates, Bitcoin took a positive position. The market is telling you and politicians are telling you Bitcoin is a matter of choice,” he says.
Here are the levels that technical analysts expect
Bitcoin price exceeded $30,000 for the first time in months in April. After falling slightly later on, it rose again with June’s ETF news. It also recorded the highest level of the year this month. cryptocoin.comIn this article, we have included what levels 6 analysts expect for the short term.
