Accéder au contenu principal

Bitcoin ETF Approval Set to Propel BTC Price Beyond $50K: Matrixport


Research conducted by Matrixport anticipates that the price of Bitcoin will surpass the $50,000 threshold in January 2024, provided that the approval of spot Bitcoin ETFs by the U.S. SEC becomes a reality.

The firm predicts a 95% probability of spot Bitcoin ETF approval in January 2024.

Matrixport Sees Bitcoin at $50K

Matrixport’s research highlights the growing anticipation surrounding the SEC’s decision on spot Bitcoin ETFs, suggesting that the asset could soar above $50,000 if approved.

The report highlights historical parallels, such as the launch of Bitcoin Futures by CME Group in 2017, which saw a significant price escalation preceding the event. During the six-to-seven-week window between the confirmation of the Bitcoin futures launch and the commencement of trading, prices soared by almost 200%.

While Matrixport initially projected a consolidation period from December 8 until the end of the year, the research suggests that Bitcoin may now be poised for a breakout.

Historical data indicates that Bitcoin typically experiences gradual price increases of around +3% from Christmas to New Year. However, 2011, 2013, and 2020 outliers saw Bitcoin prices rise as much as +22%.

As the SEC reviews spot Bitcoin ETF applications, Matrixport notes that TV commercials from multiple ETF applicants are already being rolled out, which is expected to support BTC further. The intensity of these commercials is expected to heighten during the Christmas season as applicants race to become the dominant player in the ETF market.

Matrixport firmly believes that if spot Bitcoin ETFs receive approval by then, BTC has a high chance of breaking higher during Christmas and reaching the significant milestone of $50,000.

Are Money Laundering Concerns Haunting Bitcoin ETFs?

Charles Gasparino, a senior correspondent at Fox Business Network, has provided an intriguing update on spot Bitcoin Exchange Traded Funds (ETFs).

As per his recent tweet, firms express confidence in the U.S. Securities and Exchange Commission (SEC) approving the first spot Bitcoin ETF post January 8, 2024.

However, there is an anticipated twist: shares can only be acquired with cash, unlike traditional ETFs. This precautionary measure stems from the SEC’s concerns regarding potential money laundering through ETFs, demonstrating a cautious approach toward this emerging asset class.

SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).




Source link

The post Bitcoin ETF Approval Set to Propel BTC Price Beyond $50K: Matrixport appeared first on Job From Home Blog.

Libellés :

Commentaires

Enregistrer un commentaire

Posts les plus consultés de ce blog

Jojobet (464)

Jojobet bahis adresi ua – En Güvenilir Bahis Sitesi 2021 Jojobet bahis adresi ua – En Güvenilir Bahis Sitesi 2021 Geri dönüşü yüksek bir heyecana hazır olun! Heybetli rekabet atmosferinde keyifli bir oyun deneyimi sunan öncü bir bahis platformuna hoş geldiniz. İnternetin en güvenilir ve güçlü adreslerinden biri olarak, size en üst düzey kalite standartlarına sahip online bahis fırsatlarını sunmaktan gurur duyuyoruz. Bahis ve şans oyunları tutkunlarının beklentilerini aşan kapsamlı hizmetlerimizle sizi unutulmaz bir yolculuğa çıkarmak için buradayız. Profesyonel ekibimiz, Türkiye’nin en donanımlı ihtiyaçlarına uygun olarak sürekli yenilenen bahis seçenekleriyle geniş bir kumarhane atmosferi ile etkileyici deneyimler sunar. Farklı spor dallarında eşsiz tahmin ve analiz araçlarıyla dolu olan platformumuz, kazandıran oranlarla sizden tam not alacaktır. En yeni teknolojik yazılım alt yapımız sayesinde, kesintisiz ve sorunsuz oyunculuk deneyiminin tadını çıkarabilirsiniz. Şansın, yetene...
Enregistrer un commentaire
Lire la suite

Space loves AI, AI doesn’t love Space

Space-related applications of artificial intelligence and machine learning are often confined to the ground because moving AI onboard satellites, while promising, is significantly more difficult. “Running AI in space is like running a marathon on the moon — impressive if achieved, but limited by the environment,” said Sylvester Kaczmarek, chief technology officer at OrbiSky Systems, a London startup focused on AI edge operations. Advanced processors are power hungry, meaning satellites with onboard AI require large solar panels and extra batteries. Plus, “radiation in space can fry electronics,” Kaczmarek said. Power management is another problem. Many AI devices require very high currents at low voltages. “The demands that AI devices place on power management are new to the space industry,” said Bert Vermeire, Voyager Space chief technology officer. “There are no good solutions with space heritage and it is difficult to identify efficient and small form factor power and manageme...
Enregistrer un commentaire
Lire la suite

Earn BIG Commissions in 2023

In this post, we’re looking at the best niches for affiliate marketing . So, if you’re struggling to choose a niche for your blog or YouTube channel, this list will help. In this list, you’ll learn some key information to help you determine which is the right niche to choose for you. Information like: How big the niche is and its market share The products you can promote Sub niche ideas And some commission rates you can expect Keep reading. Best Niches for Affiliate Marketing We’ve researched and broken down 21 of the best niches for affiliate marketing, so you don’t have to. Let’s dive in. 1. Artificial Intelligence The Artificial Intelligence industry has exploded in recent years and is projected to be valued at close to US$2 trillion by 2030. That’s what makes this one of the best niches for affiliate marketing today. There is also a wide range of AI tools to promote with generous commissions. For example, LinkWhisper is an AI content optimization tool for SEO of...
Enregistrer un commentaire
Lire la suite