{"id":451338,"date":"2023-10-25T14:42:00","date_gmt":"2023-10-25T14:42:00","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=451338"},"modified":"2023-10-25T14:42:00","modified_gmt":"2023-10-25T14:42:00","slug":"bitcoin-price-to-surge-74-to-59k-in-first-year-after-spot-bitcoin-etf-approvals-galaxy-digital-says","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-to-surge-74-to-59k-in-first-year-after-spot-bitcoin-etf-approvals-galaxy-digital-says","title":{"rendered":"Bitcoin Price To Surge 74% To $59K In First Year After Spot Bitcoin ETF Approvals, Galaxy Digital Says"},"content":{"rendered":"

Bitcoin price may surge 74.1% to more than $59K during the first year after spot Bitcoin ETFs (exchange-traded funds) are approved in the US, says crypto investment firm Galaxy Digital.<\/p>\n

Inflows of $14 billion are likely in the first year, ramping up to $27 billion in the second year and $39 billion the year after, said<\/a> research associate Charles Yu.<\/p>\n

He sees Bitcoin price rising 6% in the first month before monthly gains are pared to about 3.7% by the last month of the first year.<\/p>\n

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Approval for a US-regulated spot #Bitcoin<\/a> ETF will be one of the most impactful catalysts for the adoption of Bitcoin.<\/p>\n

In our latest report, we estimate potential new incremental inflows into Bitcoin investment products ranging from ~$125bn to ~$450bn: https:\/\/t.co\/1FCl7rpv1E<\/a><\/p>\n

— Galaxy (@galaxyhq) October 24, 2023<\/a><\/p><\/blockquote>\n