What Cryptocurrency Gurus Expect Following Bitcoin’s Wall Street Debut

ProShares Bitcoin Wall Street

Bitcoin again a record to the make the first exchange-traded fund in the digital asset based on the future, through all the steps of the Securities and Exchange Commission U.S. Bitcoin hit $64,000 on the eve of its Wall Street debut. In altcoins, the outlook is one of falls, even for Ethereum which moved away from the $4,000 reached the weekend.

Experts point now a strong demand for the Bitcoin ETF is what is needed to help the leader of the cryptocurrencies exceed the record of about $65.000 April. “If traders see the exchange’s performance as promising, short-term resistance could come from the $70,000 level,” said Oanda analyst Edward Moya. Instead, “the low trading volumes of these vehicles could trigger a sell into the bear market territory,” he adds.

The expert also pointed out that, initially, “this new wave of traders will probably only have the ability to go along with these new ETFs, so a reaction to buy the rumor, sell the event is not likely to happen.” In any case, “cryptocurrencies are going to play a bigger role on Wall Street, which has already pushed bitcoin close to a record high,” Moya argued. He added: “ETFs means that this year interest in bitcoin could see several billion dollars under management, which should keep the whole space boiling.”

“Now we have to think about the next level that the market places psychologically at the figure of $100,000,” said Alejandro Sala, Country Manager at Bitpanda. “Everything indicates that we are already in a new upward cycle, what we do not know is its duration and its limit price.”

Bitcoin ETF Wall Street

Shiba Inu

Traders also point out that a rise in Bitcoin will propel various altcoins to surpass their all-time highs and thus generate higher profits than BTC in the short term.

One of those cryptocurrencies with upside potential, according to analysts is the controversial Shiba Inu (SHIB), considered a shitcoin, while for others it is a memecoin with potential.

Regardless of its value as a technology, the fact is that Shiba Inu is among the 20 most important cryptocurrencies on the market and the accumulation of the token by whales continues since the cryptocurrency that was born promising to be the “Dogecoin-killer” is a trend in social media, second only to Bitcoin in popularity. With this, analysts expect SHIB’s price to rise 100% as the whales accumulate.

Ethereum

The price of the cryptocurrency Ether could soar 30% and reach $4,900, a record price that would even exceed the maximum reached by this digital asset in May, when it rose to $4,200 before the fall of the sector.

For analysts at Fundstrat, an independent research finance firm created by former JP Morgan executives, Ethereum’s digital currency is on a bullish streak and if it surpassed the price of $4,030, it would possibly skyrocket rapidly to $4,950.

“The September highs are expected to be breached, ushering in an acceleration back to new all-time highs,” the company said in a report, according to an Insider report.

VeChain

The VeChain token (VET) would be in an initial growth phase and its price could multiply by almost 30 times by March 2022, according to the forecasts of some analysts.

Crypto investor Justin Bennett exposed on his Twitter account that this alternative cryptocurrency, “altcoin”, has the potential to multiply its value by around one. 2700% short term.

According to Bennett, the increase in the value of VeChain will occur if the price of Bitcoin continues to rise. If the popular cryptocurrency exceeds $65,000 in December of this year, then VET could cost $1.6. But if Bitcoin’s uptrend runs through March 2022, VeChain is likely to hit $2-3, the investor predicts.

VeChain is a “blockchain” (and cryptocurrency) platform that seeks to improve the supply chain, authenticity and traceability of products.