Bitcoin Price Projection: Uphold’s Research Chief Envisions 200k Dollars Milestone, Inciting Response from XRP Attorney

Dr. Martin Hiesboeck, the Head of Research at Uphold, is confident that the price of Bitcoin is on the verge of surpassing the $200,000 milestone. In a recent post on the X platform, he emphasized the substantial institutional demand and hinted that the ongoing Bitcoin bull market is just a prelude to what lies ahead.

Bitcoin Price Projection: Uphold’s Research Chief Envisions 200k Dollars Milestone, Inciting Response from XRP Attorney

The surge in Bitcoin’s value to over $44,000 is attributed to the impending approval date of the spot Bitcoin ETF. This trend is further supported by notable entities like Microstrategy and other major players acquiring significant amounts of Bitcoin, signaling a heightened level of institutional involvement that aligns with Dr. Martin’s foresight.

In the midst of this, John Deaton, the legal representative for XRP, is once again championing Bitcoin and the entire cryptocurrency market. Responding to Dr. Martin’s post, Deaton shared an “eye” emoji, potentially urging investors to closely monitor Bitcoin’s price movements. Given the inherent volatility of Bitcoin, any significant movement could propel it beyond the $45,000 threshold and closer to the $50,000 mark.

Deaton recently disclosed that he has heavily invested his crypto funds in Bitcoin. Expanding on this revelation, he humorously recounted a past encounter where his financial advisor labeled him a fool for holding Bitcoin and other cryptocurrencies. Ironically, the same advisor now recommends allocating 1-5% of portfolios to spot Bitcoin ETFs.

These comments came in the wake of Fidelity’s recent entry into the Depository Trust & Clearing Corporation (DTCC). Additionally, Deaton argued that the approval of a spot Bitcoin ETF before the halving in January could attract commercial investors into the market.