From 100,000 to 1.5 million dollars

Bitcoin has become a focal point of investment discussions in traditional and crypto markets. Speculation is rife that the US Securities and Exchange Commission (SEC) has recently approved several positions in Bitcoin ETFs (exchange-traded funds).

Industry leaders are trying to chart Bitcoin's price direction, with predictions ranging from $100,000 to $1.5 million.

Experts show Bitcoin price prediction

The spot Bitcoin ETF approvals mark a major milestone, giving Bitcoin an even more mainstream investment avenue. It could expand Bitcoin's investor base, especially among institutions. Despite the rapid price reaction of Bitcoin, which is trading below $45,000, the general sentiment among experts and investors is bearish on futures.

Anthony Scaramucci, CEO of SkyBridge Capital, hailed the ETF's approval as a “big breakthrough for Bitcoin.” He set a record high of $100,000 in one year. A comparison of Bitcoin's ETF adoption with the 2004 green-light first spot gold ETF provides a historical perspective, suggesting a long-term increase in value.

However, Scaramucci's cautious tone, acknowledging past forecasting errors, reflects the volatile and unpredictable nature of cryptocurrency markets.

I think that Bitcoin will probably see an all-time high by the end of the year, and I think it's going to go through an all-time high by the end of the year…Bitcoin could be $100,000, which is more or less. Will it double next year? I believe that … but I've been wrong many times before,” Scaramucci said.

Bitcoin's looming halving in 2024, a code-natural event that will reduce mining rewards, fuels more bullish predictions.

According to Michael Saylor, CEO of MicroStrategy, Bitcoin could face a “supply shock” as a halving would significantly reduce the amount of BTC available to miners. Because of this, experts like Tim Draper, founder of Draper Associates, see this as a boost to valuations, with Draper estimating a valuation of $250,000 as of July.

“Having a decentralized, trusted, global currency cut in half, more usable; [and that] It stores its value from anywhere, [are factors that support Bitcoin at the moment]” Draper explained.

Adding to the chorus, Fundstrat Global Advisors' Tom Lee predicted a short-term upside of $150,000, with a long-term potential of $500,000. He emphasized the limited supply of Bitcoin and the expected increase in demand as key drivers following the adoption of Bitcoin ETFs.

“There is limited supply and now we have a huge increase in demand for bitcoins in space. [ETF] approval, so in five years I think it's going to be something close to half a million,” Lee said.

$1.5 million BTC may be in the works.

Moreover, Kathy Wood, CEO of Arc Invest, offered a more ambitious vision. In her “base case”, Bitcoin reaches $600,000. However, in a “bull case”, she believes Bitcoin could grow to $1.5 billion by 2030, spurred by high institutional investments following its approval by the SEC.

“With this SEC approval, we think the opportunity for a bull case has increased. [of spot Bitcoin ETFs]. This is a green light. Our bull case is $1.5 million in 2030… you can see how conservative we are… this is a big proposition. It is the first global decentralized digital rules-based monetary system in history. [Bitcoin] It's a really big idea,” Wood explained.

Read More: 7 Must-Have Cryptocurrencies for Your Portfolio Before the Next Bull Run

These doomsday predictions are based on Bitcoin's unique characteristics – a finite supply similar to digital gold and its ability to be immune to external economic and geopolitical influences. Its growing acceptance, adoption and technological advancements further cement its position as a leading investment asset.

However, it is important to approach these predictions with caution. Bitcoin's past performance has been impressive, but has been marred by volatility and volatility with stock markets, particularly tech-heavy indices. This, combined with regulatory uncertainties and the complex nature of cryptocurrency markets, can make investing in Bitcoin a high-risk venture.