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BTC Price Prediction 2024: What Will Happen After Bitcoin ETFs Approval?

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The cryptocurrency market is buzzing with the possibility of the United States approving a Bitcoin ETF (exchange-traded fund). This potential move has sparked a variety of predictions concerning Bitcoin’s future price.

Analysts and experts are weighing in, providing insights that range from cautious optimism to exuberant bullish.

An ETF Would Open the Gates to Institutional Capital

According to Bloomberg, the likelihood of a spot Bitcoin ETF being greenlit this year stands at a promising 90%. This news has fueled speculation about the impact such an approval would have on Bitcoin’s value.

Primarily, approving a spot Bitcoin ETF could mark a pivotal shift in institutional engagement with cryptocurrency. This would open a regulated path for US companies into the crypto market and draw major trading firms. Subsequently enhancing market liquidity and dynamics.

“In the mid-term, [Bitcoin ETFs] should provide a frictionless on-ramp for institutions to add Bitcoin to their books in a way that’s both regulatory friendly and compliant with various fund structures,” Mati Greenspan, CEO of Quantum Economics, told BeInCrypto.

Introducing a spot Bitcoin ETF is also expected to shake up the operations of cryptocurrency exchanges. Analysts like Nate Geraci of ETF Store and Bloomberg’s Eric Balchunas pointed out an ETF could lead to more competitive trading costs. Therefore, potentially transforming the revenue models and operations of traditional crypto exchanges.

Grayscale CEO Michael Sonnenshein added another dimension to this conversation. He suggested the ETF’s approval could unlock around $30 trillion in advised wealth for Bitcoin. This move could significantly broaden the investor base, offering Go to Source to See Full Article
Author: Bary Rahma

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