As the Christmas season approaches, Bitcoin prices are surging to yearly highs, with a potential market boom on the horizon. Experts are predicting a positive outcome for several Bitcoin ETF approvals expected to be considered by January 10th, with hope for approval even before this deadline, following Bitcoin’s impressive 10% rise in the past month and a staggering 128% increase in the past year.
Scaramuccia’s Optimistic Outlook on Spot Bitcoin ETF Approval
Anthony Scaramucci, the founder of SkyBridge Capital, is confident in the SEC’s approval of spot Bitcoin ETF filings. He anticipates a positive outcome based on the discussions between SEC officials and Blackrock representatives. Scaramucci boldly affirms the likelihood of a spot Bitcoin ETF approval by January 10, 2023, expressing optimism about the outcome.
Financial Giants in the Race for Bitcoin ETF Approval
Financial giants like Blackrock, Fidelity, Valkyrie, and ARK Invest are competing for the SEC’s approval of the inaugural spot Bitcoin ETF filing. Analysts speculate that the SEC might opt for mass approval to prevent any single company from gaining a significant first-mover advantage. Intensified discussions between Blackrock representatives and SEC officials are in process regarding the spot Bitcoin ETF application.
Bitcoin’s Surge and Market Moves
The “Bitcoin Santa Rally,” mirroring the traditional “Santa Claus Rally” in the stock market, is fueling anticipation for a potential festive surge in Bitcoin’s value. Business intelligence firm MicroStrategy’s substantial Bitcoin purchase in November adds to the positive sentiment surrounding Bitcoin’s future, signaling a robust faith in Bitcoin amidst the holiday season excitement.
Hot Take
The surge in Bitcoin’s price is indicative of a potential festive uptick, setting the stage for an optimistic outlook for the cryptocurrency market in the Christmas season. Scaramuccia’s confidence and the intensified discussions between financial giants and the SEC point to possible approvals for Bitcoin ETF filings, further contributing to the positive market sentiment.
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