Why the Gemini ETF decision could send bitcoin to $10,000+

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There has been much talk about the SEC decision on the Gemini ETF next week. Price appreciation is expected at anywhere from $2000 to $3700. Of course, no one really knows, if it will rise, let alone to what value.

However I see one strong reason that it will trend bitcoin to $10,000+.

Currently there is not a lot of institutional or high net work individual money moving into bitcoin. That demographic is certainly tens of trillions, and possibly hundreds of trillions.

The Gemini ETF itself will not change that, however, the fact that an ETF is approved starts the process of institutional money having access to bitcoin. There has always been an asymmetry in supply and demand and that will start to change.

However let's also consider that this process will likely have a lead time and take a few years to ramp up. This will also coincide with the next halvening when the supply will dramatically half and a very large {88c91daedd271a990a10650c05d769cae2765e0603edf30ca95f18704e5748e8} of btc will be already mined. I see this (in a few years) equalizing supply and demand more and taking bitcoin up an order of magnitude.

I feel it's going to be possible for smart investors to see this argument and take a chance that bitcoin is on an S-Curve, and get in early. This will allow the price to trend to $10,000+ (still tiny compared with other asset classes) IMHO. Bitcoin also has an eco system to support such a market cap IMHO, and is a unique asset.

The sky wont fall if the Gemini ETF is not approved, but I feel the argument for price appreciation is strong.

submitted by /u/melvincarvalho
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Kryptous

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Ticker

1 BTC = $38463.88 USD  (via Coinbase)
1 ETH = $2344.48 USD  (via Coinbase)
1 LTC = $138.02 USD  (via Coinbase)
Quotes delayed up to 2 minutes.

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