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Cryptocurrency investment firm Matrixport predicts Bitcoin prices could surge past $50,000 by the end of January 2024 if the SEC approves Bitcoin spot exchange-traded funds (ETFs).

In a recent report, Matrixport draws parallels to 2017, when the launch of Bitcoin futures on the CME Group exchange preceded a nearly 200% price increase for Bitcoin in the six to seven weeks leading up to the first day of futures trading.

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