Pro-Ripple lawyer and founder of Crypto-Law.US, John Deaton, has forecasted that the timing of a spot Bitcoin exchange-traded fund (ETF) approval would come at a pivotal time for the cryptocurrency market.<\/p>\n
Deaton stressed, \u201cAlthough I believe a spot BTC ETF should\u2019ve been approved long ago, the timing of its approval could create a perfect storm for Bitcoin.\u201d<\/em><\/p>\n He cited the Federal Reserve\u2019s rate cut decisions, Bitcoin\u2019s incoming halving event, increased liquidity, and the potential green light from the U.S. SEC for spot ETFs as the specific near-to-medium-term catalysts for a mega rally, adding weight to Max Keiser\u2019s prognosis of BTC hitting $220,000 per coin. Deaton posited:<\/p>\n \u201cWe all know no matter what happens, in the not too distant future (2nd-3rd Q), rate cuts and the printing of money will happen. Combine with rate cuts, increased liquidity, BTC\u2019s halving, and 8-10 spot ETF approvals, and Max Keiser\u2019s $220K might not be so crazy 18 months from now.\u201d<\/em><\/p>\n Bitcoin’s halving refers to the mechanism by which the number of new Bitcoins minted in each block is slashed by 50% alongside a surge in demand. The halving ensures BTC remains a scarce and highly sought-after asset. The next halving event is scheduled for April 2024.<\/p>\n Self-proclaimed Bitcoin maximalist Max Keiser remains optimistic about his prediction of Bitcoin skyrocketing to $220,000 in the foreseeable future. Most recently, he was convinced the benchmark crypto would increase in price drastically owing to the rapid growth of the United States debt and the geopolitical tensions between Israel and Palestine.<\/p>\n![](\"https:\/\/zincable.com\/wp-content\/uploads\/2023\/10\/CB_AffiliateBanner_V3_728\u00d790.png\")
<\/p>\nWen $220,000 BTC?<\/strong><\/h2>\n