Cryptocurrency investors have plenty of reasons to be optimistic about short and medium-term price performance. Shall we add one more? A detail announced a few minutes ago from our X account caught the attention of Bloomberg ETF analyst Eric and took us to the end of 2021.
Spot Bitcoin ETF Approval
The SEC’s education unit shared an article focusing on the risks of crypto on its social media account a few minutes ago. So what? The detail is that the article was published at the beginning of 2023, and the SEC is sharing it today while the belief in approval is so strong. Why is the education unit publishing its article, which says that cryptocurrencies involve risks such as high volatility, fraud, now?
Bloomberg ETF analyst Eric wrote minutes ago that such warning shares were also made before the approval of the BITO named futures Bitcoin ETF. So when the SEC is about to approve the spot Bitcoin ETF, it may have given a big signal by repeating the posts it made in the past.
Eric and other Bloomberg ETF analysts say there is a 90% chance that the SEC will approve the spot Bitcoin ETF by January 10. We have shared a large number of ETF file update announcements for weeks. These show the continuation of the SEC’s strong communication with potential issuers. If communication has strengthened, if the SEC chairman says he has put aside his negative approach, if senators have started to pressure for approval, there is no need to be a fortune teller to predict what will happen.
According to analysts, the ETF approval will most likely be officially granted soon and the doors of institutional demand for crypto will be opened. Or maybe we will see that the crypto has experienced a big destruction if that 10% chance that no one wants to bring to mind is realized? In order to talk about 100% for a future issue, you need to be able to see the future, investors should be prepared for all possibilities.
