By: Nisha Kumari
Image credit: The Wall Street Journal
Jan 13, 2024
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Woods prediction reflects the competitiveness in the cryptocurrency sector, which can be unsustainable in the long run.
In-house expertise in larger companies may consolidate the competitiveness in the cryptocurrency sector and might prevent closure of ETFs.
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Mike Novogratz, Galaxy Digital’s CEO was optimistic about Bitcoin ETFs future. He emphasized that each product has its uniqueness.
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These contrasting ideas reflect that such scenarios could lead to a more concentrated market with fewer stronger market players.
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Investors should focus on Bitcoin ETFs performance, management and accordingly plan a strategy to drive the financial market.
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Wood's prediction highlights the market's evolving nature, with viability depending on market demand, regulatory changes, and asset performance.
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