Recent news reveals that a former Goldman Sachs executive has made a statement regarding the impact of the Bitcoin ETF on the crypto markets. Further details about this development are provided below.
Real Vision CEO predicts new things about BTC ETF
Raoul Pal, the CEO of Real Vision, has predicted that the approval of a spot Bitcoin (BTC) exchange-traded fund (ETF) would result in a surge of capital flowing into the crypto asset markets.
During an interview with Lark Davis, Pal expressed that a BTC ETF approval, combined with an already growing crypto market, would lead investors to invest heavily in Bitcoin, eager to take advantage of the potential profits from a possible surge towards an all-time high.
“Now, the Bitcoin ETF, I’ve always said the ETF doesn’t matter unless the market has momentum. If it has momentum, it becomes this sucking sound of bringing in RAAs in the United States and individual investors and pension plans and others.”
Pal continued and said the following:
“And lo and behold, we’re in the middle of crypto spring, where things are starting to really warm up. And that sound of FOMO (fear of missing out) you hear in the distance is thundering closer and closer. And that’s going to bring these people in.”
He also made sure to state the fact that
If we continue with the current trend and prices keep rising, and let’s say Bitcoin reaches $40,000 by the time the ETF arrives, there might be a sudden panic.
It’s commonly known that Bitcoin’s value is cyclical and it can yield high returns during the cycle. So, people who are not invested in the market might be more interested in the upcoming Bitcoin ETF.
As a result, more money will flow into Bitcoin and eventually help other digital assets like non-fungible tokens (NFTs) as investors might reallocate their profits from Bitcoin.
