If the United States Securities and Exchange Commission (SEC) ends up approving a spot Bitcoin exchange-traded fund (ETF) anytime in the coming days or weeks, one expert is confident BTC prices will explode more than 6x to $185,000. As of August 30, BTC is changing hands below $30,000 but remains firm. Bitcoin To $185,000? In a recent CNBC interview, Tom Lee, who regularly comments on Bitcoin prices, said a spot ETF will mop up all daily supply of the world’s most valuable cryptocurrency, creating an “imbalance” that will inevitably drive prices higher. Based on this, demand will significantly outstrip supply, driving prices to $185,000 or higher. Related Reading: Cardano HODLing: Long-Term Holders See 170% Rise In Past Year Bitcoin remains the world’s largest cryptocurrency by market cap despite the sharp contraction throughout the past 20 months. At peaks, BTC surged to over $69,000 only for sentiment to shift in 2022, triggering a sell-off that saw prices declined more than half, bottoming up from below $16,000 in November 2022. While prices have since recovered, surging over 50% from November 2022 lows to peaking at over $31,000 in late July 2023 ..
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