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.
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.
Thanks for sharing. Supportive and a really specific target price.
74% year-over-year growth could potentially outperform the S&P 500 market.
Yeah, projected growth of Bitcoin in comparison to the traditional S&P500 is really attractive.
From now to next year, BTC will X1.7, thus, it is really the good choice for asset management company for their alternative investment.
Buffet doesn’t like this idea, despite it already makes money for the decade of other guys invest in Bitcoin.
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.