Researchers from Matrixport anticipate the approval of spot Bitcoin ETFs in January 2024, suggesting that this event could significantly increase the value of the leading cryptocurrency, possibly even to over $50,000 by the end of the first month of next year. Experts note a growing interest from investors in Bitcoin miner stocks and related securities.
Similar historical events, such as the launch of Bitcoin futures by CME Group in 2017, showed a significant price increase prior to their implementation. From the announcement to the start of trading, which took about 6-7 weeks, the price of BTC increased by 196%.
Experts from the company predict market stabilization starting from December 8 until the end of the current year. They also point to a historical trend where Bitcoin's value typically sees a moderate increase, averaging about 3%, between Christmas and New Year (December 24-31). However, it is noted that in certain cases, the price increase of Bitcoin was significantly higher.
The company also pointed to active television advertising from several companies aiming to launch ETFs, which, in their opinion, will help maintain high Bitcoin prices. An especially active advertising campaign is expected during the Christmas period, as companies compete for leadership in the ETF sector.
Matrixport, founded in 2019 by former Bitmain employees, is a financial platform offering a variety of services in the digital asset space. The company provides a wide range of services, including cryptocurrency loans, deposits, trading, and investments, allowing users to use their assets for loans, staking, or investing in various financial products.
