Bitcoin Maxi Sees Imminent Surge – BTC Gears Up for ‘Full Speed Ahead’
In recent social media updates, Max Keiser, a well-known proponent of Bitcoin and host of the "Orange Pill" podcast, discussed the recent approval of the spot ETF on Twitter/X.
Keiser shared his insights on the surge in Bitcoin’s value and its subsequent decline. Emphasizing a forward-looking perspective, he exclaimed, “Full speed ahead!”
Keiser suggested that the Securities and Exchange Commission’s approval came after Wall Street brokers and major banks had restricted customers from purchasing spot Bitcoin exchange-traded funds.
This limitation, he believes, played a pivotal role in driving Bitcoin to new highs, with the SEC approval providing an additional boost, temporarily surpassing $49,000.
Over the past 24 hours, the leading digital currency experienced a 4.70% decline, later recovering slightly to reflect an overall drop of 3.4%.
Since last Thursday, when the spot ETF approval initially propelled Bitcoin above $49,000 before a subsequent downturn, the cryptocurrency has seen a nearly 16% decrease, currently trading at $41,330. Despite the recent dip, Max Keiser remains optimistic, asserting that Bitcoin’s potential to reach “$220,000” is still viable.
READ MORE: Bitcoin Expected to Reach New Heights, According to VanEck Analyst – Here is When
Key figures in the Bitcoin community, including Samson Mow and Gabor Gurbacs from VanEck, a spot Bitcoin ETF issuer, have highlighted the positive long-term impact of spot ETF approval on Bitcoin.
Gurbacs pointed out that major financial institutions like BlackRock and Fidelity have accumulated significant amounts of Bitcoin, surpassing El Salvador’s treasury holdings.
Describing the spot Bitcoin ETF as a “force of nature,” Gurbacs and Mow expressed confidence in its influence, with Mow emphasizing that BTC price development remains independent of ETFs.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
