Ecoinometrics Report Says Bitcoin's Future Growth Heavily Reliant on Spot ETFs

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There are recent predictions by ecoinometrics that indicate that the expansion and growth of Bitcoin in the near future, is greatly dependent on the spot Bitcoin ETFs. The predictions indicate that since the last one month, the accumulation of Bitcoin has halted.

And this halt in accumulation of Bitcoin will have direct effect in the future price movement of Bitcoin. Right from the month of January 2024, to the middle of March 2024, the spot Bitcoin ETFs have seen about 200,000 Bitcoin accumulated.

And the increase in the price of Bitcoin from $40,000 to about $75,000, correlates with this accumulation in spot Bitcoin ETFs. But at the moment, the accumulation of spot Bitcoin ETFs has stopped, and this is the reason for the current stagnation in Bitcoin price.

Comparisons were made between Gold, NASDAQ and Bitcoin, in terms of their performance in the past decade. It was discovered that Gold has remained stable, NASDAQ has experienced a 3x surge; while Bitcoin has seen a massive 44x surge in price. Ecoinometrics suggest that Bitcoin has been useful as a hedge in the present global economic condition in the broader view.