Bitcoin ETF Launch in 2024 Could Impact Price, Experts Warn
Dec 29, 2023
A new report suggests that when a Bitcoin ETF is launched in 2024, it could cause Bitcoin's price to drop to around $32,000 from its current level of $42,539. The U.S. SEC is expected to approve a Bitcoin ETF soon, making it easier for traditional investors to access Bitcoin. This could trigger a 'sell the news' event, where investors sell off their holdings after the ETF launch. However, the approval of a Bitcoin ETF could also bring in more investment, potentially increasing Bitcoin's market cap to $900 billion from its current $832 billion.