- Experts predict a bull run pushed by institutional interest and demand in 2024.
- A spot Bitcoin ETF by the SEC is expected to drive capital inflow into the crypto market.
- Experts estimate Bitcoin’s price could hit between $100K- $150K by December 2024.
In the past few weeks, the cryptocurrency market has seen a resurgence in capital inflow. Investors’ confidence appears to have increased as trading volumes soar and major cryptocurrencies peak annual highs.
Indeed, the majority of the push has come from increased speculations around a spot Bitcoin Exchange Trusted-Fund approval by the U.S. Securities and Exchange Commission. While earlier discussions were on whether the regulator would make such an approval, a change of attitude at the SEC has now tilted conversations to when the market should expect the approval.
Bitcoin ETF: Institutional Interest to Inspire Bull Rally
With the market buzzing with excitement, a spot Bitcoin ETF approval is expected to significantly impact the crypto market. Matrixport noted this in a recent report where it said the next crypto bull market will be driven by increased institutional interest in the space.
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