Bitcoin Could Reach $50,000 To $55,000 By Q1 2024 If This Happens: Former FTX US President

Brett Harrison, the ex-president of FTX US and a former colleague of Sam Bankman-Fried (SBF) at the quantitative trading firm, Jane Street, forsees Bitcoin BTC/USD reaching a range of $50,000 to $55,000 in Q1 of 2024. 

What Happened: Harrison says that hinges on a spot Bitcoin ETF approval in Q1 of 2024, Cointelegraph reports. He added that he does not see any six-figure numbers until “toward the end of 2024 or early 2025 at the earliest.”

Harrison said that if an ETF gets approved in Q1, BTC prices reaching between $50,000 and $55,000 seem "feels pretty probable."

Also Read: Bitcoin Bull Frenzy Hits $44K As Futures Market Expects 10-12% Rise Into 2024

“If you remember the day when a Bitcoin Futures ETF was listed the inflows were some of the highest ever seen in the history of ETFs. I think we’re going to see even more records broken for a spot Bitcoin ETF,” Harrison told Cointelegraph

At a recent Benzinga’s Future of Digital Assets event, Harrison said that he was fed up with a “lack of crypto rules,” adding that the entirety of the Bitcoin ETF approval has not yet been priced in.

More About Harrison: Currently, Harrison is a co-founder at Architect.xyz, a DeFi platform, which focuses on bridging all the different opportunities in the digital asset space for both institutional and retail investors.

At the Benzinga event, he shared that he appreciates the blend of genius and goofiness on Crypto X where he gets a daily fix of humor and high intellect.

Harrison stated, “One of the things I love about Crypto Twitter is the perfect mix of highly intellectual cerebral, either Market structure or political commentary, and degenerate memes.”

Read Next: Bitcoin Bulls Charge: Analyst Predicts These Peaks For BTC, Ether In 2025

Photo: Shutterstock