Category: Bitcoin Analysis

SEC approves rule changes that pave the way for bitcoin ETFs

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The U.S. Securities and Exchange Commission on Wednesday approved rule changes to allow the creation of bitcoin exchange-traded funds in the U.S., a long-awaited move that will give regular investors access to the controversial and volatile cryptocurrency. The decision will likely lead to the conversion of the Grayscale Bitcoin Trust, which holds about $29 billion of the cryptocurrency, into an ETF, as well as the launch of competing funds from mainstream issuers such as BlackRock’s iShares and Fidelity. The first funds are poised to begin trading Thursday. The approval may…

The bitcoin chart is showing signs of resuming long-term trend back to $66K as ETF decision looms

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Here’s a breakdown of the bitcoin chart and what to watch for to confirm that the cryptocurrency is resuming its long-term trend back to all-time highs. If you haven’t heard, bitcoin was up substantially in 2023, and a full-fledged ETF may finally get approved by the SEC. Some experts claim that could be a clear sell-the-news event if/when it happens, while others believe it will prompt an even bigger rally. Either is possible, but right now it’s important to recognize that BTC’s price action has been working well over the last…

This week’s bitcoin ETF decision could drive the cryptocurrency to $200,000 in 2025, says Standard Chartered

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A bitcoin ETF approval could revolutionize the cryptocurrency the way it did investing in gold a generation ago, and send bitcoin’s price rocketing to $200,000 by the end of next year, according to Standard Chartered. All eyes are on the Securities and Exchange Commission in the runup to its Jan. 10 deadline to approve or reject one of multiple applications to launch a spot bitcoin exchange-traded fund. The agency is widely expected to approve more than one ETF, in order to level the playing field from the beginning. “We see…

Bitcoin Price Takes Major Hit But Uptrend Far From Over – Here’s Why

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Bitcoin price started a major drop below $44,000 after rumors of spot ETF rejection. BTC dived over 10%, but the bulls are still protecting the $40,000 support. Bitcoin declined heavily and even spiked below the $40,000 level. The price is trading below $43,500 and the 100 hourly Simple moving average. There was a break below a key bullish trend line with support near $43,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase if there is a close above the…

Buy these crypto stocks in possible explosive year for bitcoin

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Investors should take a long position in crypto now or be sorry later, says Bernstein. The Wall Street firm published an extremely bullish 2024 crypto market outlook this week, predicting bitcoin will hit a new all-time high in the second half and could close the year at about $80,000, or roughly 88% above current levels. It also forecasts bitcoin will reach $150,000 in 2025. “We expect 2024 to be a break-out inflection year for crypto,” Gautam Chhugani, Bernstein’s lead crypto analyst, wrote in the note. “Not being long crypto —…

Bitcoin could test $50,000 after new year rally, per chart analysts

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Bitcoin popped to start the new year as eager investors drove the price to nearly $46,000 on Tuesday. The rally began late Monday night and quickly pushed the cryptocurrency above $45,000. It hit a high of $45,913.30, a level not seen since April 2022. While bitcoin ended 2023 with a brief pause in its overall uptrend, it still posted its fourth positive month in a row and a 157% gain for the year. The next stop on the way to a new all-time high is between $48,000 and $50,000, chart…

Could a bitcoin ETF approval be a sell-the-news event? What investors are expecting on the big day

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Just a couple of weeks from now, the U.S. could have its first spot bitcoin ETF. The excitement around the prospect has been building for months, but the market may be a little overheated now. The chances that the ETF approval will be a sell-the-news event have been getting higher, according to CryptoQuant, which points to the fact that investors have been sitting on high unrealized profits – a trend that historically has preceded price corrections. In this case, bitcoin could correct all the way down to $32,000, the short-term…

Bitcoin funds and active bond plays are potential winners in the year ahead

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The late-year rally in stocks and bonds has created an opportunity for investors to re-evaluate their portfolios at a time when the ETF industry is cranking out new products in areas including active fixed income and, potentially, cryptocurrency. The best performing ETFs in any given year are ultimately a function of what’s happening in the broader markets. Investors should be sure to understand not just how a fund might perform in different market environments, but also how buying it changes their portfolio. That is especially true after the narrow market…

Bitcoin Price Approaches Breakout – Why BTC Could Rally 10%

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Bitcoin price is gaining pace and trading above the $44,000 resistance. BTC could continue to rise once it clears the $44,500 and $45,000 resistance levels. Bitcoin started a decent increase above the $43,500 resistance zone. The price is trading above $43,500 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support near $43,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a strong rally if there is a close above $44,300 and $44,500. Bitcoin Price…

Advisors may drive bitcoin ETF flows amid widespread ‘disinterest’ in crypto, says Needham

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Registered investment advisors will probably be the main driver of bitcoin ETF flows should one be approved in the U.S., according to Needham, but a survey conducted by the firm shows retail clients are showing little to no interest in crypto investing. With market expectations that the U.S. could see its first ever spot bitcoin ETF approved in January, Needham sought to find out whether investors would prefer bitcoin exposure through an ETF, crypto- related equities or trusts, or buying the cryptocurrency outright on a trading platform like Coinbase or…