Bitcoin (BTC) Price: Analyst Links $175K Target to ETFs and Bank Lending
BTC when published $81,540Now $80,568 ▼ −1.19% since it was published
Bitcoin could climb past $175,000 over the next few quarters, according to Brian Vieten, a senior research analyst at Siebert Financial. He shared his outlook in comments to Bitcoin.com News on Oct. 14. Vieten argues that bitcoin has become more resilient since the crypto lending failures of 2022. He says broader ownership and better access to capital are the main reasons. His forecast builds on an earlier three-factor valuation model. That model looks at money supply growth, digital wallet adoption, and demand for bitcoin. Vieten sees exchange-traded funds (ETFs) as a source of steadier, longer-term ownership. In a Sept. 1 interview, he tied bitcoin’s recovery to improving sentiment and a short squeeze. He also believes selling pressure has eased across several groups.
First reported by Blockonomi. This page is a short excerpt; the full text is theirs.
