Renowned crypto analyst Benjamin Cowen warns that Ethereum (ETH) is in a concerning situation similar to 2019, with the breach of its Bull Market Support Band indicator, suggesting a potential slide towards $900 per token.
BlackRock, the world's largest asset manager, has filed a proposal to establish a Bitcoin exchange-traded fund (ETF), which could increase mainstream acceptance of Bitcoin investing and open up new investment opportunities if approved by the U.S. Securities and Exchange Commission (SEC).
A surge in global interest in acquiring Bitcoin has been observed, with Nigeria leading the way, as investors anticipate a potential rally driven by upcoming events in the crypto sphere and the approval possibility of the inaugural spot Bitcoin exchange-traded fund (ETF) by the SEC. Bitcoin's evolving role as a possible store of value is reflected in low exchange-held supplies, while technical analysis suggests a bearish sentiment but a potential reach of $26,500 and the $30,000 milestone.
The US Securities and Exchange Commission is seeing a surge in proposals for crypto ETFs, including spot bitcoin ETFs and ether futures ETFs, which could have significant impacts on the adoption of cryptocurrencies, market moves, and the potential outperformance of various tokens.
Investors are turning their attention to altcoins like $ROE from Borroe, which harnesses AI and blockchain technology, offers a range of features, and has a deflationary token with potential for capital appreciation. Meanwhile, Ripple's $XRP and Filecoin's $FIL are gaining momentum, and Ethereum's price volatility may be mitigated by the potential approval of Ether futures ETFs by the US SEC.
With millions of investors potentially experiencing their first crypto bull run, experts emphasize the importance of having a clear investment plan, avoiding memecoins, implementing dollar-cost averaging, and balancing investments between speculative and mature cryptocurrencies.
A series of Bitcoin Exchange Traded Fund (ETF) applications have been submitted to the SEC, potentially offering investors a more accessible way to invest in cryptocurrency and bridging the gap between traditional finance and digital assets.
There is a possibility that digital assets may not witness another bull market, according to a crypto strategist who is growing skeptical of the market's potential for a bullish reversal this time around, citing a lack of real-world use cases and the failure to deliver on promises. However, another investor remains confident that a crypto bull market is coming, predicting a potential decline in prices before a new bull market begins.
ARK Invest CEO Cathie Wood predicts that the market capitalization of cryptocurrencies will increase by over 2,100% in less than seven years, driven by institutional investment and the potential approval of a Bitcoin exchange-traded fund (ETF), with the total crypto market cap potentially reaching $25 trillion by 2030.
The US Securities and Exchange Commission (SEC) may prepare alternative arguments to reject spot bitcoin exchange-traded-fund (ETF) applications despite a recent court ruling favoring Grayscale's attempt to convert the Grayscale Bitcoin Trust into an ETF, according to German investment bank Berenberg. However, the victory for Grayscale potentially increases the chances of the SEC approving one or more spot bitcoin ETF applications, which could have a significant impact on the crypto industry by providing institutional investors with easier market access.
Bitcoin could potentially experience a significant increase of 10% to 20% if a spot BTC exchange-traded fund (ETF) is approved in the United States, according to analyst DonAlt, who believes the chances of approval are close to 100%.
Bitcoin's volatility has increased as the market reacts to news regarding the United States Securities and Exchange Commission's delay on Bitcoin exchange-traded fund (ETF) applications, with Bloomberg analysts remaining optimistic about the possibility of Bitcoin ETFs being approved in 2023.
The U.S. Securities and Exchange Commission's delay in approving the first spot bitcoin exchange-traded fund (ETF) has not diminished the optimism of many in the crypto industry, with approval still considered inevitable according to former SEC chair Jay Clayton, and pending applications from Blackrock, Fidelity, and others increasing the probability of approval, which would be a "watershed moment" for bitcoin.
Bitcoin may experience a bull market if a spot-based Bitcoin exchange-traded fund (ETF) is approved around the time of the next halving, leading to a supply and demand shock in the cryptocurrency market.
The market is underestimating the potential impact and value of Spot Bitcoin ETFs, with analysts arguing that approval would lead to significant financial inflows and buying pressure, and that it is a good time to enter the market and start building a crypto portfolio, despite regulatory challenges. Ethereum could also benefit from a futures-based ETF listing, but there is caution about the SEC potentially classifying ETH as a security. Overall, the global crypto adoption is dependent on market maturity, regulatory intervention, and consistent long-term adoption.
The introduction of a bitcoin ETF could increase accessibility, liquidity, and institutional adoption, potentially stabilizing prices and attracting capital from mainstream investors, similar to the impact of gold ETFs on the gold market.
Ether (ETH) has experienced a modest increase in price in 2023, but it is still trading significantly below its peak in November 2021, raising questions among investors about the reasons behind the decline and potential catalysts for a reversal. The ongoing legal battle between Ripple and the SEC, as well as regulatory uncertainties surrounding the Ethereum ICO, remain sources of concern. However, positive surprises such as the request for a spot Ether ETF and Ethereum's position to benefit from Bitcoin-related catalysts give hope to investors.
The Federal Reserve's decision to maintain interest rates and raise its long-term forecast for the Federal Funds Rate surprised many market participants, causing a slight pullback in the stock and cryptocurrency markets while highlighting the need for investors to focus on the actual health and viability of companies and the utility of the crypto ecosystem. Additionally, the article speculates on the impact of the U.S. Securities and Exchange Commission's ruling on Bitcoin spot ETF applications and the potential for cryptocurrency to become a mainstream alternative investment.
The next crypto bull run will be different from the last one, as corporate interest in blockchain technology will drive gradual growth rather than a sudden surge in prices, according to Lars Seier Christensen, founder of Concordium. However, there are differing opinions, with some experts believing that we are already in the initial stages of a bull market.
The U.S. SEC has extended the deadline for approving Ethereum spot exchange-traded fund (ETF) applications by Ark Invest and VanEck to December 26, 2023, while optimism remains high for the approval of a futures-based ETH product next week.
The number of ETFs tied to cryptocurrencies, particularly ether, is expanding rapidly, making it easier for financial professionals to gain exposure to the crypto market, while the launch of ether futures products may indicate optimism for the approval of spot bitcoin products by the SEC.
The recent filing for a spot Ethereum exchange-traded fund (ETF) in the United States by ARK Invest marks a turning point in the integration of digital assets into traditional finance, signaling the dawn of institutional liquid staking and the need for regulatory approval for mainstream adoption.
Bitcoin and other cryptocurrencies have been affected by the Federal Reserve this year, potentially leading to a difficult situation for bitcoin prices, but a former BlackRock managing director predicts that the U.S. SEC will approve a bitcoin spot ETF within the next few months.
The CoinDesk Market Index (CMI) declined by -11% in the past quarter, with Bitcoin outperforming by -10.9% and Ether underperforming at -12.5%; however, Bitcoin and Ether have still shown impressive gains of 64% and 41% respectively for the year, highlighting their resilience as top-performing assets. Regulatory pressure on alternative tokens continues to drive a bifurcation in the crypto market between Bitcoin and Ether and other digital asset protocols, while the computing and DeFi sectors were relative outperformers in Q3 2023. The reduced level of risk, lower volatility, and decreased correlation with traditional equities suggest a maturation of the market or market illiquidity. Rising bond yields and tightening financial conditions may pose headwinds for crypto price appreciation, but the approval of a Bitcoin spot ETF could be a catalyst for breaking through these macroeconomic headwinds, enabling broader investor access and institutional adoption.
Investors are showing a preference for ether over bitcoin in a high interest rate environment, with ether futures ETFs experiencing low volumes and the ether-bitcoin ratio reaching its lowest point since July 2022. The underperformance of ether relative to bitcoin is attributed to the bear market and the potential for continued underperformance due to the higher interest rate environment. Bitcoin's status as a digital gold and its regulatory advantages also contribute to its favorability over ether.
The SEC's engagement with spot bitcoin ETF applicants and positive developments from BlackRock indicate a high chance of approval for bitcoin spot ETFs by the end of 2023 or the first quarter of 2024, potentially leading to a wave of institutional investment and redefining investment dynamics.
JP Morgan analysts assert that the approval of a spot bitcoin exchange-traded fund (ETF) could lead to a rally in the BTC mining industry, which is currently threatened by record-high hashrates and an upcoming block reward halving, and they recommend mining operators that offer the best value, such as CleanSpark and Iris Energy.
Approval of spot-based Bitcoin exchange-traded funds (ETFs) is partially priced in, leading to Bitcoin outperforming other cryptocurrencies, according to Coinbase Institutional, but once the ETFs are approved, Bitcoin's edge over the market may diminish.
Crypto traders anticipate the approval of a spot bitcoin ETF to revive the market, while major tokens like XRP and Solana's SOL stabilize following a period of decline.
A cryptocurrency exchange-traded fund (ETF) is expected to launch soon, but caution is advised as the market may have already factored in potential gains.
According to data analytics firm CryptoQuant, the approval of bitcoin spot exchange-traded funds (ETFs) could lead to bitcoin becoming a $900 billion asset and the total crypto market growing by $1 trillion, with the potential inflow from ETFs being larger than that of the Grayscale Bitcoin Trust (GBTC) in the last bull market cycle. This scenario could push bitcoin's price to between $50,000 and $73,000, and historically, for every $1 of fresh money entering the bitcoin market, the market capitalization could increase by $3-$5.
Fidelity has amended its Bitcoin ETF application and emphasizes the risks associated with the product, as market analysts predict that a Bitcoin ETF is closer to approval, which could bring fresh capital into the market. However, concerns about the volatility of the crypto market and regulatory scrutiny remain. Several major Wall Street players have also applied for a Bitcoin ETF, and analysts believe there is a 90% chance of approval in January 2022.
A bitcoin spot ETF approval in the US could lead to a surge in bitcoin's market capitalization, potentially adding $1 trillion to the wider crypto market value.
Bitcoin (BTC) surged to $29,300, driven by optimism surrounding a potential approval of a Bitcoin exchange-traded fund (ETF) in the U.S., while other forks of Bitcoin, such as Bitcoin Cash (BCH) and Bitcoin SV (BSV), experienced significant gains, indicating possible irrational exuberance. There is anticipation that the approval of a Bitcoin ETF, along with the upcoming halving event in April, could ignite a strong bull market.
Interest in the potential launch of a spot bitcoin ETF has surged among retail investors, as indicated by the worldwide Google search value for "spot bitcoin ETF" approaching its peak value of 100, signaling maximum interest, while the search value for "bitcoin ETF" has reached its highest level in two years. Retail investors are seeking information on how a spot ETF might impact the cryptocurrency market. The approval of a spot BTC ETF is seen as a significant milestone in bitcoin's mainstream adoption and is expected to bring increased liquidity.
Increased optimism about the potential approval of multiple spot bitcoin exchange-traded-funds (ETFs) has led to the recent gains of Bitcoin (BTC), according to JPMorgan.
Bitcoin surpassed $30,000 for the first time since August, driven by optimism that the SEC will approve exchange-traded funds (ETFs) investing directly in the cryptocurrency. Market participants anticipate approval of a spot bitcoin ETF by January 10th, the deadline for a response to ETF applications.
Coinbase's chief legal officer is optimistic that bitcoin spot exchange-traded fund (ETF) applications will be approved by the U.S. Securities and Exchange Commission, potentially boosting the price of bitcoin and benefiting crypto-linked stocks.
Several new Ethereum futures ETFs have been launched in the U.S., providing investors with a way to gain exposure to Ethereum without directly holding the cryptocurrency themselves. These ETFs offer a convenient and low-risk option for investors who are bullish on Ethereum's future but do not want to deal with the complexities and risks of owning and storing the digital asset.
If the U.S. Securities and Exchange Commission approves a spot Bitcoin exchange-traded fund (ETF), a top analyst predicts that Bitcoin could reach levels not seen since November 2021, potentially appreciating by over 100%.
The outflow of assets from crypto exchanges, particularly from Binance, crypto.com, and OKX, suggests that traders are securing their assets and expecting a price increase, while the rise in the total crypto market cap, driven by speculation on a spot Bitcoin exchange-traded fund launch, indicates renewed bullish sentiment in the market.
Cryptocurrency prices surged as bitcoin reached its highest level since May 2022, driven by hopes of a spot bitcoin exchange-traded fund (ETF) launching soon after the SEC declined to challenge Grayscale Investments' court loss. Several firms, including ARK Invest, VanEck, BlackRock, and Coinbase, have filed for bitcoin ETFs, and there is significant institutional demand for a spot bitcoin ETF with expectations of SEC approval.
The potential launch of a spot Bitcoin ETF in the US is driving up the price of cryptocurrencies as investors anticipate a flood of institutional investments worth trillions of dollars, according to Paul Brody, global blockchain leader at Ernst & Young (EY).
Optimism for the approval of a spot bitcoin ETF by the SEC is growing, as reflected in bitcoin's outperformance and increased institutional participation.
The U.S. Securities and Exchange Commission (SEC) has multiple filings for potential bitcoin exchange-traded products under consideration, including an application from Cathie Wood's ARK Invest; approval of a spot bitcoin exchange-traded fund (ETF) could drive increased demand for the cryptocurrency.
Bitcoin's recent upward move confirms that it is now in a bull market cycle, with potential for significant growth due to stablecoin adoption, tokenization of real-world assets, and the changing stance of traditional financial institutions.
