Bitcoin spot ETF funds in the US could lift the price to $59,200

Bitcoin
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According to estimates from Galaxy Digital, the price of Bitcoin is expected to increase by 74.1% in the first year after the introduction of Bitcoin spot ETF funds in the United States.

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Screenshot 2023-10-27 at 11.17.461402×930 189 KB

In a blog post on October 24th, Charles Yu, a researcher at Galaxy Digital, projected that the total money flow into the market would reach $14.4 trillion in the first year of the listing of the Bitcoin spot ETF.

Additionally, Mr. Yu suggested that the price of Bitcoin (BTC) could surge by 74%, reaching the $59,200 mark if the cryptocurrency industry receives substantial capital inflows through Bitcoin ETFs.

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Thanks for sharing. Supportive and a really specific target price. :wink:

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74% year-over-year growth could potentially outperform the S&P 500 market.

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Yeah, projected growth of Bitcoin in comparison to the traditional S&P500 is really attractive.

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From now to next year, BTC will X1.7, thus, it is really the good choice for asset management company for their alternative investment. :hugs:

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Buffet doesn’t like this idea, despite it already makes money for the decade of other guys invest in Bitcoin. :rocket:

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A price of 59k is a conservative views as many crypto experts estimate BTC could reach above 100k when BTC ETF spot triggers a new bull run.

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