Bitcoin Poised For 74% Boost To $59,200 In First Year Post ETF Launch, Predicts Galaxy Digital
Portfolio Pulse from Benzinga Neuro
Galaxy Digital predicts a 74% increase in Bitcoin's value in the first year following the launch of spot Bitcoin ETFs in the U.S., estimating the total addressable market size for Bitcoin ETFs to reach $14.4 trillion. The firm's research associate, Charles Yu, also projected that the market size would reach $26.5 trillion in the second year and $39.6 trillion in the third year post-launch. However, these predictions could be affected by a delay or denial of spot Bitcoin ETFs.
October 25, 2023 | 7:17 am
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Bitcoin's value is predicted to increase by 74% in the first year following the launch of spot Bitcoin ETFs in the U.S., according to Galaxy Digital. This could significantly impact the price of Bitcoin.
The launch of spot Bitcoin ETFs in the U.S. is expected to significantly increase the demand for Bitcoin, leading to a surge in its price. Galaxy Digital's prediction of a 74% increase in Bitcoin's value in the first year post-launch indicates a positive short-term impact on Bitcoin's price.
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