Unified Optimism
Representing 75,000 XRP holders, esteemed attorney John Deaton echoed investor Mike Alfred’s positive cryptocurrency forecast. Highlighting recent changes made by major players such as BlackRock, Ark 21Shares, and WisdomTree, Deaton suggested that the majority of these firms aligning their S-1 filings with a cash redemptions model indicates a potential breakthrough for the digital asset space. Deaton’s endorsement added weight to the mounting optimism and emphasized the impact of recent amendments, boosting the odds of a green light from the SEC.
Wall Street Remains Cautiously Optimistic
While Alfred remains bullish on approval, Wall Street seems cautiously optimistic, as reflected in the undervalued January call options for Bitcoin miners. Bloomberg analysts have maintained a steady 90% likelihood for the past two months. However, expert Trader Bob Loukas is expressing an unwavering 99.9% certainty in the ETF’s fate.
So Who Do We Believe?
The crypto industry is brimming with anticipation as major players tweak their filings to embrace cash creation models, although analysts have remained cautious about immediate approval. The crypto sphere braces for a defining moment, eagerly awaiting the SEC’s call on Bitcoin ETFs. If approved, this could herald a game-changing transformation in the realm of digital assets. Conversely, if denied, this could be worse than earlier crypto crashes, as predicted by experts.
We’re Praying for a Miracle!
As prices of key cryptocurrencies Bitcoin (BTC), Ethereum (ETH), and XRP fell, the crypto market cap fell 2.58% to $1.56 trillion in 24 hours. It will be interesting to see the ETF charm rolling in January. BTC is struggling to maintain the critical level of $42K and is expected to fall by $40K in the coming days as a mark of a short-term correction.
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