Bitcoin's Pending ETF Decision: A New Era for Cryptocurrency Investment Unfolds

Web3 Tech Brief By HackerNoon

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.
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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.