Bitcoin Spot ETF: Analysts expect enormous price growth by 2024. Experts expect billions of inflows into the ETF market.

Bitcoin Spot ETF: Analysts expect enormous price growth by 2024. Experts expect billions of inflows into the ETF market.

According to a report by www.finanzen.net,
Hopes for the approval of a spot ETF for Bitcoin have given the cryptocurrency market a strong boost. A well-known asset manager sees even more potential for 2024.

AllianzBernstein expects a new all-time high

According to analysts, the asset management company AllianzBernstein has high expectations for Bitcoin in 2024. After the US Securities and Exchange Commission's decision to approve Bitcoin ETFs, the inflow of funds is expected to increase enormously. Analysts even predict that Bitcoin could rise to a new all-time high of $80,000 by the end of 2024.

Billions in inflows expected

The AllianzBernstein team expects five billion US dollars inflows into Bitcoin ETFs in the first half of 2024 alone and expects another ten billion US dollars in the second half of the year. They are confident that around ten percent of Bitcoins will be held in ETFs by 2028.

These forecasts indicate positive market sentiment regarding Bitcoin and the crypto market. The approval of spot ETFs could increase confidence in the crypto market and attract institutional investors. Overall, the outlook for Bitcoin and the crypto market is promising.

The approval of Bitcoin ETFs is expected to bring about a positive development for the crypto market and the financial sector as a whole.