Bitcoin Equilibrium Price Likely to Top $168,000 Following ETF Approval, FSInsight Says

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Bitcoin Equilibrium Price Likely to Top 8,000 Following ETF Approval, FSInsight Says
Bitcoin will extend gains following the approval of the first bitcoin futures exchange-traded fund (ETF) in the U.S., according to Tom Lee, head of research at FSInsight, a markets strategy and research firm in an Oct. 18 note.The 10 largest ETF launches witnessed inflows of $14 billion in their first year on average. The most successful was the Nasdaq 100 ETF (NASDAQ: QQQ) in 1999, with inflows of $36 billion. FSInsight expects demand for ProShares’ Bitcoin Strategy ETF to surpass that of QQQ and forecasts inflows of more than $50 billion.Read more: ProShares Bitcoin Futures ETF to Start NYSE Trading…