{"id":182712,"date":"2023-10-19T11:39:26","date_gmt":"2023-10-19T11:39:26","guid":{"rendered":"https:\/\/precoinnews.com\/?p=182712"},"modified":"2023-10-19T11:39:26","modified_gmt":"2023-10-19T11:39:26","slug":"bitcoin-price-to-hit-42k-56k-with-blackrocks-etf-approval-matrixport-research-report-coinpedia-fintech-news","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/bitcoin-price-to-hit-42k-56k-with-blackrocks-etf-approval-matrixport-research-report-coinpedia-fintech-news\/","title":{"rendered":"Bitcoin Price To Hit $42K – $56K with BlackRock\u2019s ETF Approval\u00a0– Matrixport Research Report – Coinpedia Fintech News"},"content":{"rendered":"

The potential approval of the BlackRock Bitcoin ETF has sent shockwaves through the crypto sphere. Wu Blockchain’s recent X post, citing Matrixport research report, speculates that if the ETF gets the green light, Bitcoin\u2019s price could skyrocket to either $42,000 (a conservative estimate) or even a staggering $56,000 if an influx of $50 billion pours into the market.<\/p>\n

So, what\u2019s driving this optimism? An anticipated mammoth $300 billion surge into the Bitcoin market within the first year of the ETF\u2019s existence. The fact that the U.S. SEC hasn\u2019t raised objections to Grayscale\u2019s success further fuels confidence in Bitcoin Spot ETFs.\u00a0<\/p>\n

Currently, Bitcoin is trading at approximately $28,333, with a close analysis of the 4-hour chart revealing intriguing patterns. Immediate resistance is $28,652, followed by critical levels at $29,100, $29,520, and $30,600. These indicators align with the research\u2019s bold projections, potentially paving the way for a seismic shift in BTC\u2019s value. Naturally, the question arises: how could Bitcoin climb to $42,000 to $56,000? Let\u2019s see the rationale behind the report.\u00a0<\/p>\n

$30 billion Funds Awaiting for ETF Approval: Report<\/strong><\/h2>\n

Imagine a crypto surge in 2023. That\u2019s what Matrixport\u2019s \u2018Matrix onTarget\u2019 report foresees, and it’s got us all excited. This bold forecast is based on factors like lower US inflation and a friendly economic environment. The report doesn\u2019t just predict a comeback for Bitcoin and Ethereum; it says things will get way less bumpy in the crypto world.<\/p>\n

Let\u2019s talk about GBTC (Grayscale Investments\u2019 Bitcoin Trust), the superstar of this story. It\u2019s had a spectacular 167% growth this year, even outperforming Bitcoin, which increased by 71%. GBTC started the year at a -45% discount in net asset value (NAV), which improved to -43%. But the real game-changer came in June 2023 when Black Rock revealed its ETF application.<\/p>\n

Matrixport\u2019s research analyzed a group of 15,000 US registered investor advisors (RIA) handling a massive $5 trillion. These investors have the potential to change the game. Suppose just 1% of them suggest investing in Bitcoin.<\/p>\n

In that case, we’re looking at a whopping $50 billion coming in. Now, imagine this: precious metals ETFs are worth around $120 billion, and if just 10-20% of those investors switch to a Bitcoin ETF for a change, we might see an incredible $12-24 billion flowing into the Bitcoin ETF. That is the power of ETFs; SEC\u2019s recent talk with ETF issuers also adds a bullish picture for Bitcoin enthusiasts.\u00a0<\/p>\n

So, what if Blackrock\u2019s Bitcoin ETF gets the thumbs up? If Tether\u2019s market cap increases by $24 billion, a hint of what\u2019s to come, Bitcoin could climb to $42,000 \u2013 the conservative estimate. With $50 billion flowing in (thanks to a 1% allocation from RIAs), Bitcoin could hit an impressive $56,000. The crypto revolution is knocking on our doors! Are you Excited?<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The potential approval of the BlackRock Bitcoin<\/p>\n","protected":false},"author":3,"featured_media":182711,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nBitcoin Price To Hit $42K - $56K with BlackRock\u2019s ETF Approval\u00a0- Matrixport Research Report - Coinpedia Fintech News - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/bitcoin-price-to-hit-42k-56k-with-blackrocks-etf-approval-matrixport-research-report-coinpedia-fintech-news\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price To Hit $42K - $56K with BlackRock\u2019s ETF Approval\u00a0- Matrixport Research Report - Coinpedia Fintech News - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"The potential approval of the BlackRock Bitcoin\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/bitcoin-price-to-hit-42k-56k-with-blackrocks-etf-approval-matrixport-research-report-coinpedia-fintech-news\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-19T11:39:26+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/10\/Bitcoin-Price-To-Hit-42K-56K-with-BlackRocks-ETF-Approval-Matrixport-Research-Report-Coinpedia-Fintech-News.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/bitcoin-price-to-hit-42k-56k-with-blackrocks-etf-approval-matrixport-research-report-coinpedia-fintech-news\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/bitcoin-price-to-hit-42k-56k-with-blackrocks-etf-approval-matrixport-research-report-coinpedia-fintech-news\/\",\"name\":\"Bitcoin Price To Hit $42K - $56K with BlackRock\u2019s ETF Approval\u00a0- Matrixport Research Report - Coinpedia Fintech News - Pre Coin News\",\"isPartOf\":{\"@id\":\"https:\/\/precoinnews.com\/#website\"},\"datePublished\":\"2023-10-19T11:39:26+00:00\",\"dateModified\":\"2023-10-19T11:39:26+00:00\",\"author\":{\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/precoinnews.com\/crypto\/bitcoin-price-to-hit-42k-56k-with-blackrocks-etf-approval-matrixport-research-report-coinpedia-fintech-news\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/precoinnews.com\/crypto\/bitcoin-price-to-hit-42k-56k-with-blackrocks-etf-approval-matrixport-research-report-coinpedia-fintech-news\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/bitcoin-price-to-hit-42k-56k-with-blackrocks-etf-approval-matrixport-research-report-coinpedia-fintech-news\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/precoinnews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Crypto\",\"item\":\"https:\/\/precoinnews.com\/category\/crypto\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Bitcoin Price To Hit $42K – $56K with BlackRock\u2019s ETF Approval\u00a0– Matrixport Research Report – Coinpedia Fintech News\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/precoinnews.com\/#website\",\"url\":\"https:\/\/precoinnews.com\/\",\"name\":\"Pre Coin News\",\"description\":\"precoinnews.com\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/precoinnews.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"mediabest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"caption\":\"mediabest\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bitcoin Price To Hit $42K - $56K with BlackRock\u2019s ETF Approval\u00a0- Matrixport Research Report - Coinpedia Fintech News - Pre Coin News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/precoinnews.com\/crypto\/bitcoin-price-to-hit-42k-56k-with-blackrocks-etf-approval-matrixport-research-report-coinpedia-fintech-news\/","og_locale":"en_US","og_type":"article","og_title":"Bitcoin Price To Hit $42K - $56K with BlackRock\u2019s ETF Approval\u00a0- Matrixport Research Report - Coinpedia Fintech News - Pre Coin News","og_description":"The potential approval of the BlackRock Bitcoin","og_url":"https:\/\/precoinnews.com\/crypto\/bitcoin-price-to-hit-42k-56k-with-blackrocks-etf-approval-matrixport-research-report-coinpedia-fintech-news\/","og_site_name":"Pre Coin News","article_published_time":"2023-10-19T11:39:26+00:00","author":"mediabest","twitter_card":"summary_large_image","twitter_image":"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/10\/Bitcoin-Price-To-Hit-42K-56K-with-BlackRocks-ETF-Approval-Matrixport-Research-Report-Coinpedia-Fintech-News.jpg","twitter_misc":{"Written by":"mediabest","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/precoinnews.com\/crypto\/bitcoin-price-to-hit-42k-56k-with-blackrocks-etf-approval-matrixport-research-report-coinpedia-fintech-news\/","url":"https:\/\/precoinnews.com\/crypto\/bitcoin-price-to-hit-42k-56k-with-blackrocks-etf-approval-matrixport-research-report-coinpedia-fintech-news\/","name":"Bitcoin Price To Hit $42K - $56K with BlackRock\u2019s ETF Approval\u00a0- Matrixport Research Report - Coinpedia Fintech News - Pre Coin News","isPartOf":{"@id":"https:\/\/precoinnews.com\/#website"},"datePublished":"2023-10-19T11:39:26+00:00","dateModified":"2023-10-19T11:39:26+00:00","author":{"@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/precoinnews.com\/crypto\/bitcoin-price-to-hit-42k-56k-with-blackrocks-etf-approval-matrixport-research-report-coinpedia-fintech-news\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/precoinnews.com\/crypto\/bitcoin-price-to-hit-42k-56k-with-blackrocks-etf-approval-matrixport-research-report-coinpedia-fintech-news\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/precoinnews.com\/crypto\/bitcoin-price-to-hit-42k-56k-with-blackrocks-etf-approval-matrixport-research-report-coinpedia-fintech-news\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/precoinnews.com\/"},{"@type":"ListItem","position":2,"name":"Crypto","item":"https:\/\/precoinnews.com\/category\/crypto\/"},{"@type":"ListItem","position":3,"name":"Bitcoin Price To Hit $42K – $56K with BlackRock\u2019s ETF Approval\u00a0– Matrixport Research Report – Coinpedia Fintech News"}]},{"@type":"WebSite","@id":"https:\/\/precoinnews.com\/#website","url":"https:\/\/precoinnews.com\/","name":"Pre Coin News","description":"precoinnews.com","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/precoinnews.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"mediabest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","caption":"mediabest"}}]}},"_links":{"self":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/182712"}],"collection":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/comments?post=182712"}],"version-history":[{"count":0,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/182712\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media\/182711"}],"wp:attachment":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media?parent=182712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/categories?post=182712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/tags?post=182712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}