Ki-Young Ju: Bitcoin price may never deep below $50k again after U.S. ETF approval

Ki-Young Ju: CEO cryptoquant.com & crypto analyst 

The expectation of the Bitcoin Exchange Traded Fund (ETF) in the United State is very intense this year with the U.S. Securities and Exchange Commission (SEC) proceeded with its review on WisdomTree Bitcoin ETF shortly after indicating, via a press release that it would commence assessment.  currently, there are eight ETF filings awaiting approval from the SEC. it was learnt that the first ETF was rejected by the SEC back in 2014 but there is the probability that the U.S will record the approval of its first Bitcoin ETF this year.

If Exchange Traded Fund (ETF) got approved this year, the price of Bitcoin is expected to disrupt the market and bitcoin price may never deep below $50k again just as it happened with gold in 2004 when the first Gold  EFT was approved, the prices erupted and gold set the bar higher. says Ki-Young Ju on his Twitter handle.

NYSE listed the first gold ETF in Nov 2004, and the price never came back.

Many economic factors have affected the gold price, but listing ETF would have played a major role in the inflow of global institutional funds.

We may never see this $BTC price again once ETFs approved. pic.twitter.com/4a6FwhJ7Ok

— Ki Young Ju 주기영 (@ki_young_ju) May 9, 2021

Ju said the United States can set the pace for other countries to follow should an ETF be approved after which more institutions may be convinced to adopt the asset and go-head to launch their own ETF, this is the stance that many other Bitcoin proponents have taken.

Imagine when SEC approves Bitcoin ETFs.

US followers like Korea will approve Bitcoin ETFs, more global institutions will buy BTC, and more global financial services will launch Bitcoin funds.

How much BTC price would be then?

The bull market may last longer than we thought.

— Ki Young Ju 주기영 (@ki_young_ju) May 6, 2021

 With the way Bitcoin ETFs in some countries have flourished, it is expected that a U.S based ETF will take the market to new levels. Canada is boasting of three ETFs currently one of which has hit $1.1 billion in assets under management.

However, SEC commissioner Hester Peirce once noted that it was long overdue for ETF to be approved in the U.S and that arrival of the new Chairman Gary Gensler could speed up the approval process.

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