Bitcoin’s $500K Prediction, Spot Ether ETF ‘Troublesome Case’ — Thomas Farrer, X Flame Hall

A number of factors in Bitcoin could increase its price to more than eight times its current value, although most of them will not materialize, according to Thomas Farrer, CEO of crypto-specific reviews portal Apollo.

“One of those individual factors is the probability of a low, but there are many potential lows that could result in a very strong bull market for Bitcoin.”

As he predicts, even if only two of these events occur, Bitcoin could reach the half million dollar mark in the next four-year cycle.

“I'd say probably anywhere in that $300,000-$500,000 range,” he says.

He cited a number of possible events, including Bitcoin's ability to surpass gold's market capitalization in the future and the US dollar being backed by Bitcoin.

“I mean, Bitcoin is a $1.2 trillion market cap, and gold is $15 trillion. The way I look at that is that it's a very achievable outcome for Bitcoin in the next few years,” said US presidential candidate Robert Kennedy Jr., who wants to back the US dollar with Bitcoin. .

While Fahrer doesn't think Kennedy will win the presidential election, he still believes it's important for the candidate to get his point across.

“In a world where this happened, Bitcoin would be astronomically high right now,” he says.

What made Fahrer X famous?

Fahrer says his X following has been growing fairly well since he launched the account in late 2022, but it really took off this year, especially since he launched a bitcoin exchange in the United States.

“I think the following Twitter account has really grown,” he coyly said as the cat jumped on his lap during the video call.

Since launching the Bitcoin ETF in January, Fahrer has been sharing easy-to-understand updates on the ETF's ins and outs.

His regular posts were very popular, and he amassed nearly 60,000 X followers.

“There's been a lot of interest in ETFs, so that's probably been the most beneficial for my account this year. I think that's the big story of this cycle, and also the potential for crypto outside of Bitcoin,” Fahr says.

Although he is an avid Bitcoiner, he does not shy away from highlighting the difficult times.

You will still find him posting about the bleeding days, especially the massive selloff from the Grayscale Bitcoin Trust.

What kind of content does Fahrer like?

Fahrer has popular sources for different types of Bitcoin content. If he wanted to laugh, he lined up his favorite people on his X feed. For more technical stuff, he turns to some onchain analysts.

When he wants a general update on Bitcoin news, he has to go to Man for that.

“If I was looking for some interesting Bitcoin memes, it was someone like Vivek [Sen],” he says.

“One person who does a good job of covering this type of ETF flow is Hoddle Capital,” he added, turning to Glassnode chief analyst James Check for technical analysis.

“He does great things there,” he says.

Meanwhile, mathematician and bitcoin investor Fred Krueger said, “He really enjoys the content.

I think he's amazing. I really recommend anyone check out Fred Krueger's content. He does amazing work on coverage of Bitcoin ETFs, but also puts out a lot of content around power law,” he says.

What kind of content does Fahrer make?

Fahrer's content on X is a selection of the best content about Bitcoin ETF inflows and outflows, pocket bites, light-hearted Bitcoin memes, and more to share with his followers.

“My main focus is Bitcoin flows, I'm obviously looking at all these ETF flows, but I'm trying to take a more holistic view of all the action in the market,” Fahr says.

Fahrer runs the daily newspaper with his brother and Apollo co-founder Julian. The newspaper examines the main companies that buy Bitcoin.

“In our kind of daily flow government newspaper, we're looking at tracking the corporations that are buying,” he added.

What are Fahrer's predictions?

Fahrer thinks there will be “immediate” positive earnings days when the SpotEther ETF launches because ETF issues “have already lined up some buyers to start a good run.”

He added: “That's kind of the job, to try and get some bang for their buck.”

But he pointed out that the biggest problem with Ether ETFs, which Bitcoin ETFs don't do, is the “worrisome issue.”

“The reality is that if you buy an Ethereum ETF, you're not saving Ether, you're actually giving up a percentage point in return,” he explains.

Although most investors realize that not depositing their Ethereum means losing some money, Fahr says many current Ethereum owners don't seem too worried about leaving that extra money on the table.

“I don't know the exact number; I think that now the Ethereum that is not shared in the system may be more than 50%,” he says.

“So there are a lot of investors who would be happy to own it, excluding Ethereum,” he said.

Fahrer plans to show the same passion and attention to Ethereum ETF coverage as he did with the Bitcoin ETF.

“I mean, it's going to be really interesting to watch what happens with these Ethereum ETFs,” he added.

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Ciaran Lyon

Ciaran Lyons is an Australian crypto journalist. He is also a freelance comedian and has been a radio and TV presenter on Triple J, SBS and The Project.