Galaxy predicts 74% Bitcoin price increase first year after ETF launch
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Bitcoin’s (
Yu acknowledged a delay or denial of spot Bitcoin ETFs would impact its price prediction.
However, he said the estimates were still conservative and didn’t factor in “second-order effects” from a spot Bitcoin ETF approval.
“In the near-term, we expect other global/international markets to follow the U.S. in approving + offering similar Bitcoin ETF offerings to a wider population of investors,” Yu wrote.
He added “2024 could be a big year for Bitcoin” citing ETF inflows, the April 2024 Bitcoin halving and “the possibility that rates have peaked or will peak in the near term.”
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