As this article is being prepared, it is 14:37 U.S. time and the SEC’s official decision on the ETF approval is expected in 3-3.5 hours. The excitement is at its peak, but not everyone is a Bitcoin investor. We are taking current price predictions for those eagerly waiting in altcoins. Additionally, the latest prediction from the Binance CEO is fueling FOMO.
Binance CEO’s Prediction
The new Binance CEO, CZ, is not as exciting to the community. However, it would be unfair to overlook the effort he is making. He recently made a post that fueled the excitement for a spot Bitcoin ETF by comparing it to the era of Gold ETFs.
If Spot Bitcoin ETFs are approved and indeed see the expected interest, we could witness massive growth similar to the example of Gold. Teng wrote the following:
“Did you know that the first Gold ETF was approved in November 2004 when the gold price was $700? The gold price then rose over the next 7 years, reaching $2,450 in 2011. This is not financial advice.”
Altcoin Price Predictions
While approval for Spot Bitcoin ETFs is almost certain, we need to look at the critical areas in altcoins. Yes, BTC interest is high, but if ETF volumes are as strong as expected, this could mean that altcoins may rise after BTC makes its local peak. Let’s examine the current key areas of three popular cryptocurrencies.
Solana (SOL)
The 20-day EMA ($96) has flattened, and the RSI is close to the neutral zone. Bears are targeting a close below the uptrend, and if successful, we could see a drop to $67. In an alternative scenario, the price rises and targets $117.
Ripple (XRP)
Ripple Labs announced it would repurchase company shares for over $200 million, reaching a valuation of $11 billion. XRP Coin didn’t react much, but there is still hope with closes above $0.54. If the price loses this support, XRP could drop to $0.5. In a bullish scenario, targets of $0.67 and $0.74 are identified.
Avalanche (AVAX)
The AVAX/USDT pair faces the risk of falling to $31. If support is broken, the target of the following formation is $26. Conversely, it could struggle to exceed $38. In this case, it will try to surpass $50 again.
