AdTraders Invest $100,000+ Into $WEPE, Get in EARLY and get Access To Private Trading Community!
AdWall Street Pepe
The current year has been quite difficult for all participants in the cryptocurrency market. For a long time, Bitcoin was in a state of stagnation, which is why the prices of other coins gradually began to decline. The FPC's aggressive monetary policy and litigation involving the SEC also had a strong impact on the industry. As a result, some experts began to believe that the industry could fall into great decline. However, the situation has changed radically.
Now the crypto community is very optimistic. First of all, it is waiting for the launch of the Bitcoin ETF and the halving of the first cryptocurrency. So, there are other events that will positively affect investor income next year.
The opening of Bitcoin ETF spot funds is one of the most long-awaited events in the industry.
Today, Bitcoin is actively used not only in many areas but also in a crypto casino and other gambling games. The fact is that thanks to them, investors and traders around the world will have access to the main cryptocurrency, thereby facilitating its acceptance and distribution. Bitcoin ETFs will be especially useful for residents of those countries where trading in cryptocurrencies is punishable by law.
Plus, this will simplify access to large digital assets for investors from other areas of the financial market, which will also affect the rate of BTC adoption. The main difference between purchasing tokens through such a fund is that users will own shares of the Bitcoin ETF, and not the coins themselves.
Accordingly, the companies that own the spot funds will bear all responsibility for storing assets. Analysts believe that the launch of a Bitcoin ETF is a new step for the industry that can push it towards a bullish trend.
If the SEC approves the submitted applications, then a large-scale influx of funds should be expected in the digital asset market. It is reported that funds from companies such as BlackRock, Bitwise and Invesco could attract up to $100 billion. It also became known that the latter is currently negotiating with more than 300 investors about joint work after the launch of a Bitcoin ETF.
But while some market participants are waiting for the approval of spot funds in January 2024, others are beginning to prepare for this event actively and are investing in Bitcoin ETFs. This new project has appeared on the market recently but has already attracted over $1.8 million at a cost of $0.0058.
Almost a month ago, BlackRock filed an application to register another spot fund, this time for Ethereum.
The second largest cryptocurrency responded with an immediate increase of 2.5%, but after this it quickly returned to its previous position. By the way, today, the price of ETH, according to CoinMarketCap, is $2,009. It is reported that the company’s new fund will be called iShares Ethereum Trust, and the Coinbase exchange will act as a custodian (the financial agent who stores securities).
Currently, there are already futures funds for ETH on the market, however, the launch of Ethereum-ETF should open up new opportunities for traders and investors. For example, they will be able to access coins rather than just bet on later asset prices.
It is also reported that the application of the company Fidelita (controls assets worth $4.2 trillion) could become a catalyst and lead to a bullish rally of ETH in the market. The fact is that today in the US there is no regulated way for investors to trade Ethereum. With the advent of the ETH spot fund, this situation should change.
However, the SEC plans to decide on this issue at the beginning of 2024. Until then, investors can debate and actively invest money in ETH ETFs. This project appeared under the influence of the hype around Ethereum-ETF and in the first 10 minutes after launch on Uniswap the price increased by 186%.
The BTC halving is another significant event that should happen next year. Experts find it difficult to name the exact date but suggest that it could happen in April. Typically, this event is followed by an increase in the price of BTC, which is why traders and investors are so looking forward to it. It is also reported that on the eve of the halving, the amount of rewards for Bitcoin mining will be reduced by an average of 50%. Accordingly, users will be able to receive only 3.125 BTC for 1 block.
In this way, it will be possible to reduce the rate of production of new BTC and, as a result, effectively reduce the level of their inflation. Plus, halving will help draw attention not only to BTC itself but also to altcoins. The whole point is that some of them will most likely turn out to be more profitable against the backdrop of a reduced mining reward!
Disclaimer
The information on Coinsniper is user-generated and not verified. Coinsniper does not provide financial advice or facilitate transactions.
Also note that the cryptocurrencies listed on this website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments.
WARNING: Scam Telegram Channels
Watchlist
Ads
Boosts
Today's best
SOL
ETH
BSC
SUI
All time Best
New listings
Airdrops
Presales
Submit coin
Contact Us
Blog
Dictionary
Partners
KYC verification
AMA hosting
