Bitcoin could soar to $180,000 before the April 2024 halving as potential BlackRock ETF helps drive demand, Fundstrat says

• The price of bitcoin could soar to $180,000 before the scheduled April 2024 halving, according to Fundstrat.
• Fundstrat said a bitcoin ETF from BlackRock could drive a boost in daily demand for the crypto token.
• If the SEC approves a bitcoin ETF from BlackRock, it could lead to the largest ETF launch ever.

The price of bitcoin could soar 521% from current levels to $180,000 before the cryptocurrency’s scheduled halving in April 2024, according to a Monday note from Fundstrat.

The investment research firm said that while bitcoin’s daily demand of about $25 million is equivalent to daily mining rewards of about $25 million, that could change with the potential launch of a bitcoin ETF.