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Bitcoin's Pending ETF Decision: A New Era for Cryptocurrency Investment Unfolds
Manage episode 394082520 series 3474370
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This story was originally published on HackerNoon at: https://hackernoon.com/bitcoins-pending-etf-decision-a-new-era-for-cryptocurrency-investment-unfolds.
Insights into Bitcoin's impending ETF verdict, potential market impact, and the shift in crypto investment dynamics for 2024.
Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #bitcoin, #bitcoin-spot-etf, #crypto-news, #blackrock-bitcoin-etf, #bitcoin-etf, #cryptocurrency-investment, #asset-class-legitimization, #bitcoin-market-outlook, and more.
This story was written by: @ulriklykke. Learn more about this writer by checking @ulriklykke's about page, and for more stories, please visit hackernoon.com.
The last few months’ momentum in Bitcoin’s price has primarily been driven by the expectations of the first Bitcoin spot ETF approval. Since Bloomberg’S analysts suggested a 99% probability of approval, everyone slammed the buy button and both sentiments and valuations began a very rapid ascent upwards. Since 2017 when I saw the first ETF get rejected by the SEC, I have been very negative on the prospects of one getting approved. However, this time around, there’re many signals pointing towards a positive outcome.
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