In its latest report, Matrixport analysts predict that Bitcoin will surge in value and reach $125,000 by the end of 2024.
This bullish phase will be catalyzed by BlackRock and Fidelity launching crypto ETFs.
By the end of 2023, the cryptocurrency is expected to increase by 300%, reaching $45,000.
However, JPMorgan strategists are not certain that these ETFs will bring a large influx of institutional capital, as previous products with the same purpose in Canada and Europe did not impact the BTC rate appreciably.
Therefore, it is thought that funds will just be shifted from precious metals into digital currencies like Bitcoin.
In times of global instability, BTC may be seen as a tool to protect savings, but it is unlikely that it will attract the majority of investment capital from institutions.
