<img src="https://crypto.news/app/uploads/2024/01/crypto-news-Creator-of-bitcoin-Alternative-Says-Satoshi-Having-1-Million-Coins-Is-Not-True-Decentralization04.webp” />
One analyst projects that bitcoin will rise to $100,000 in the second half of the year, while the outlook for the ethereum spot ETF is not as optimistic.
A macroeconomist under the pseudonym Luxon shared expectations similar to those of journalist Colin Wu. The expert added that giant American investors could invest between 1 and 3% of their assets under management (AUM) in bitcoin (btc). This is due to the postponement of the Federal Reserve's rate cut from May to June or later and the gradual implementation of institutional plans to invest in btc.
The specialist acknowledged the underestimation of enthusiasm for spot bitcoin ETFs, leading to a refresh of all-time highs ahead of the impending halving next month. Luxon described as “surprising” the nature of the positive dynamics in the context of a strict monetary policy and the postponement of the start of its easing to a later date.
The expert also predicted that bitcoin will maintain its leadership in the cryptocurrency market. Luxon justified his opinion with skepticism about the SEC's approval of an ethereum ETF.
The macroeconomist recalled the regulator's investigation into the proof-of-stake (PoS) mechanism in the context of security and price manipulation. Another obstacle may be the department's interpretation of an asset as a value.
“The outlook for an ethereum spot ETF is not very optimistic, therefore it could be a bitcoin-only bull market.”
Luxon, macroeconomist
The specialist should have included the rotation of capital from ethereum towards Polygon and Solana in the absence of ETFs for the former and an increase in the number of developers for the latter.
In related news, Bloomberg ETF analysts previously lowered the ethereum ETF spot approval odds in May to 35%, with no set prediction for when eth ETF approval might arrive.
