Month: January 2024

SEC will reject all Bitcoin ETFs in January, says Matrixport

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Matrixport analysts expect the U.S. Securities and Exchange Commission (SEC) to reject all Bitcoin (BTC) spot ETFs in January. In the latest Matrix report, “Why the SEC will REJECT Bitcoin Spot ETFs again”, analysts predict that all applications for spot Bitcoin ETFs could receive approval in the second quarter of 2024. As a result, the price of BTC will fall to $36,000-$38,000 in January, and recommended that investors buy put options or even sell Bitcoin directly. Experts also recalled that the current five-member commissioner leadership, which is critical to ETF…

Bitcoin’s (BTC) Strong Start to January May Falter

Although bitcoin began January by hitting a 21-month high above $45,000, the month has historically not seen positive returns. Only twice in the past five years has the largest cryptocurrency gained in January, according to data from TradingView. Bitcoin gained 40% last January, but lost 16% the year before. It dropped 8% over 24 hours to trade at around $42,000 on Wednesday. Still, there’s room for bitcoin to rally should a spot bitcoin exchange traded fund (ETF) be approved in the U.S., According to LMAX Digital. “As much as the…

SEC to Reject Spot Bitcoin (BTC) ETF Proposals in January

“An ETF would certainly enable crypto overall to take off, and based on Gensler’s comments in December 2023, he still sees this industry in need of more stringent compliance,” Matrixport continued. “From a political perspective, there is no reason to approve a bitcoin spot ETF that would legitimize Bitcoin as an alternative store of value.” Source CryptoX Portal

Cardano In 2024: Dollar Dream Or Downward Spiral For ADA?

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After a spectacular climb of over 150% in 2023, Cardano (ADA) has reached a new yearly high, touching a peak of $0.67 for the second time last month. Notably, the increase coincides with an impressive rise in important Cardano ecosystem components, with the leading Decentralized Exchange (DEX) Minswap witnessing an astounding 26,000% gain and drawing a sizable influx of new users. On its one-day timeframe, Cardano, the eighth-largest cryptocurrency by market value, and currently trading at $0.61, is now exhibiting optimistic signals. The digital currency’s trajectory indicates that, despite a…

Strike CEO Jack Mallers goes all-in on Bitcoin, ditches US dollar

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Strike CEO Jack Mallers, an ardent Bitcoin (BTC) advocate, has announced his move away from fiat currency, opting to go all-in with Bitcoin. In a Jan. 3 X post, Bitcoin enthusiast and visionary Jack Mallers announced his complete divestment from the US dollar, stating, “I no longer own any US dollars. Not even a penny.” I no longer own any US dollars. Not even a penny. As an American millennial, I love our country but I oppose our money. I’m all in on #Bitcoin. Setting my sails toward prosperity or…

Registered Funds Want Exposure To BTC

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An interesting trend looks to be developing among institutional players as their interest in the flagship cryptocurrency, Bitcoin, continues to rise. This interest has in no small way been thanks to the frenzy around the Spot Bitcoin ETFs, which could be approved sooner than later. Other ETFs Considering Bitcoin As An Investment Option   Crypto commentator and music producer Marty Party recently drew the crypto community’s attention to an emerging trend among fund managers and their ETFs. He noted how these asset managers are amending the prospectus of funds they manage…

BTC’s 20-month high: exploring Bitcoin’s potential rally

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Bitcoin starts 2024 by surpassing the $45,000 mark, setting a new 20-month high. What’s next? At the onset of 2024, Bitcoin (BTC) has made a leap, surpassing the $45,000 mark and setting a new 20-month high. As of this writing, BTC is trading at $45,465. In 2023, Bitcoin experienced an increase of 156%, indicating its strongest yearly performance since 2021. This surge was primarily driven by the anticipation of the approval of spot Bitcoin exchange-traded funds (ETFs) in the U.S. Secondly, the expectation of major central banks cutting interest rates…