Bitcoin, the largest cryptocurrency by market value, is currently at the brink of $43,400. It has started to rise again as signals that could trigger FOMO (fear of missing out) are becoming more frequent. The latest signal came recently, and the position of the person sharing it indicates that this is not without reason.
A Signal to Buy Bitcoin?
Recently, Galaxy Digital CEO Michael Novogratz posted a New Year’s celebration message. It was admittedly a bit late, but the words he used and the image shared suggest that ETF approval is now just a matter of time. Several potential ETF issuers have started Bitcoin advertising campaigns in recent days. Reuters reported last week that the SEC could give the green light to issuers within the next 48 hours.
Mike wrote the following in his post:
“Happy New Year! Big Things Are Coming”.
These “big things” refer to ETF approvals, and the implication is that multiple approvals could be on the way. ETF issuers had over 30 meetings with the SEC in December, indicating they likely know much more than the average investor. Additionally, the post showed Invesco alongside Galaxy, hinting at the ETF application the duo has submitted.
AP agreements have entered ETF filings before the end of the year; now, it’s just a matter of the SEC giving its official approval. Bitcoin’s price could rise in the coming hours influenced by similar shares.
