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Etfapproval

All articles tagged with #etfapproval

finance-and-cryptocurrency2 years ago

"Bitcoin's Surge Sparks ETF Speculation and Crypto Market Rally Amidst Global Uncertainty"

Bitcoin's price saw a rebound, rising by about 3% to $43,870.01, following a previous day's sell-off due to concerns over the approval of a bitcoin ETF by the U.S. Securities and Exchange Commission (SEC). The market is anticipating the SEC's decision, which could come as early as next week, particularly for the Ark 21Shares bitcoin ETF. The potential approval of bitcoin ETFs is expected to be a significant catalyst for Bitcoin's price and could attract a wave of new investors to the crypto market. The overall crypto market also experienced gains, with notable increases in the value of ether, Solana's SOL token, and stocks of companies like Coinbase and MicroStrategy.

via CNBC|
##bitcoin#cryptocurrencymarket
finance-and-investment2 years ago

"Bitcoin Breaks $45K, Rallying to a Two-Year High as Confidence Grows"

Jim Cramer, known for his show "Mad Money" on CNBC, has shifted his stance on Bitcoin, acknowledging it as a "technological marvel" and asserting its permanence in the financial landscape. This change of heart comes as Bitcoin's price surged above $45,000 and in anticipation of potential U.S. regulatory approval for a spot Bitcoin ETF. Despite his newfound recognition of Bitcoin's resilience, Cramer remains cautious, hinting that the ETF approval might lead to a "sell the news" scenario. The SEC is expected to make decisions on several ETF applicants by January 10.

via CoinDesk|
##bitcoin#cryptocurrency
finance-and-cryptocurrency2 years ago

"Bitcoin Surges Past $45K, Reaching a High Not Seen Since Early 2022 Amid ETF Anticipation"

Bitcoin's price soared above $45,000 for the first time since April 2022, marking a significant rebound with a 156% gain in 2023. The surge is driven by investor optimism over the potential approval of spot bitcoin ETFs by the U.S. Securities and Exchange Commission and expectations of interest rate cuts by major central banks. Ethereum also saw a substantial increase. The cryptocurrency market is anticipated to grow further, influenced by new investment avenues and a more favorable monetary policy.

via Reuters|
##bitcoin#cryptocurrency
finance-and-cryptocurrency2 years ago

"2024 Bitcoin Forecast: Predictions Point to a Crypto Spring and Record Rallies"

Bitcoin's surge above $45,000 has led to record-high funding rates for perpetual futures, reaching an annualized 66%, indicating costly bullish bets in the market. This increase reflects a strong bullish sentiment, potentially fueled by expectations of a U.S. SEC approval for Bitcoin ETFs. However, such high funding rates can pressure long positions if the market ceases to climb, potentially triggering a sell-off. Despite this, Bitcoin maintains its upward trajectory without signs of bullish fatigue.

via CoinDesk|
##bitcoin#cryptocurrency
financecryptocurrency2 years ago

"Bitcoin's 2024 Outlook: Price Predictions and ETF Developments Amid SEC Scrutiny"

Despite the potential approval of spot Bitcoin ETFs in early 2024, experts from CryptoQuant and prominent figures like Cathie Wood and Nic Carter predict a possible price drop for Bitcoin to around $32,000 in January 2024 due to a "sell-the-news" event. This event is characterized by market participants selling off their holdings after a highly anticipated event occurs, in this case, the approval of Bitcoin ETFs. The prediction is based on historical patterns of price corrections following high unrealized profit margins among short-term holders and increased selling activity by miners. While there is a short-term bearish outlook, experts like Wood and Carter remain optimistic about Bitcoin's long-term prospects, citing the potential influx of institutional funds post-ETF approval.

via BeInCrypto|
##bitcoin#cryptomarket