Galaxy predicts 74% Bitcoin price increase first year after ETF launch

Markus Thielen, head of research at digital property financial services firm Matrixport reached a comparable figure in an Oct. 19 post, approximating Bitcoin might rise to between $42,000 and $56,000 if BlackRocks area Bitcoin ETF application is approved.Yu anticipates the U.S. Bitcoin ETFs addressable market size to reach $26.5 trillion in the 2nd year after launch and $39.6 trillion after the 3rd year.Spot Bitcoin ETF market sizing and inflow price quotes over the first 3 years. Source: Galaxy Digital ResearchRelated: BlackRocks Bitcoin ETF: How it works, its advantages and chances Yu acknowledged a delay or denial of spot Bitcoin ETFs would impact its cost prediction.However, he stated the price quotes were still conservative and didnt element in “second-order results” from a spot Bitcoin ETF approval.”In the near-term, we expect other global/international markets to follow the U.S. in approving + providing comparable Bitcoin ETF offerings to a broader population of investors,” Yu wrote.He included “2024 could be a huge year for Bitcoin” citing ETF inflows, the April 2024 Bitcoin halving and “the possibility that rates have actually peaked or will peak in the near term.