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Bitcoin Author Cites Key Factors For Price Surge Upon Potential Bitcoin ETF Approval

1 min
Updated by Ciaran Lyons
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In Brief

  • Renowned Bitcoin author Jason A. Williams predicts a bullish trend in Bitcoin's price upon the approval of BlackRock's Bitcoin ETF.
  • Williams cautions that the approval of a BlackRock Bitcoin ETF could trigger significant price movements.
  • Recent market data shows the highest crypto inflows in 3 months, suggesting a growing anticipation of Bitcoin ETF approval.
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A leading Bitcoin author predicts that the approval of BlackRock’s Bitcoin ETF will propel Bitcoin’s price, citing compelling reasons.

“This is the core issue they are actively working on now,” he warns.

Author Suggests Potential Price Chaos Following Bitcoin ETF Approval

Prominent Bitcoin author Jason A. Williams explained to his 219,100 followers that there will be a positive uptick in the market should the BlackRock Bitcoin ETF be approved by the US Securities and Exchange Commission:

“When Blackrock’s Bitcoin ETF is approved, they will need to acquire several hundred thousand BTC to fulfill end customer demand.”

However, he warns that “there is no way they can acquire this much Bitcoin without moving the price significantly.”

Learn more: How To Prepare for a Bitcoin ETF: A Step-by-Step Approach

There has been several reports on Bitcoin ETF speculation leading to positive movements in the market in recent times.

Bitcoin ETF Speculation In Recent Times

On November 28, CoinShares reported that total crypto inflows for the week have been the highest in the past three months.

“Digital asset investment products saw inflows totaling US$346m last week, the largest weekly inflows in this nine consecutive week run,” the statement noted.

Additionally, the spike was believed to be from all the hype surrounding Bitcoin ETFs.

Furthermore, the rapid jump in inflows between weeks was noted as the largest one in almost two years:

“ETF Anticipation Fuelling the Largest Surge in Inflows Since Late 2021.”

Learn more: Where To Trade Bitcoin Futures: A Comprehensive Guide

Top crypto platforms in the US | February 2024

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Ciaran Lyons
Ciaran is a cryptocurrency journalist based in Sydney, Australia. He particularly enjoys writing about CBDC developments and the practical implementations of cryptocurrency in real-world scenarios. He has also appeared across major television networks in Australia including Channel Ten, Channel Nine and SBS TV. Prior to his foray into cryptocurrency, Ciaran worked as a presenter on national radio station Triple J.
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