Christopher Ferraro, the chief investment officer of Galaxy Digital, has identified two factors that will determine the direction of Bitcoin for the remainder of the year.
Ferraro believes that the approval of spot Bitcoin exchange-traded funds (ETFs) in the US and regulatory developments in the crypto space will be the key catalysts for Bitcoin in the third and fourth quarters of 2023.
Institutional interest in Bitcoin is growing, while retail investors are also buying BTC on fintech platforms such as Square and Revolut, according to Ferraro.
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