BTC To Rise After ETF Approval – Galaxy Reports
Bitcoin’s price is expected to rise by 74% in a year, according to a report by Galaxy Digital. The report suggests that Bitcoin’s price will rise by 74.1% in its first year after Bitcoin ETFs are approved in the United States. These spot BTC ETFs provide essential tools for real-time trading of Bitcoin without owning the digital currency. Galaxy Digital predicts that the assets price will rise to levels over $59,000, just ten thousand shy of its all-time high.
Charles Yu, a researcher at Galaxy Digital, estimates the BTC ETF market to be $14.4 trillion after its launch within a year. The percentage increase is based on the digital asset’s market price and the potential price impact of increased fund inflows. The market is expected to witness a 6.2% increase in the first month after the ETF launch, followed by a balanced correction of a 3.7% monthly increase in the 12th month.
(With inputs from Shikha Singh)
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