Bitcoin Price Drops on ‘Genesis’ Day: What Happened?
Bitcoin saw a significant drop to $40,700 on its 15th ‘genesis’ day due to a report denying the approval of a Bitcoin ETF. The sudden dip in price has left many wondering about the future of Bitcoin in the market.
Matrix Port’s Forecast and its Impact
Matrix Port, a digital financial services platform, retracted its prediction of a potential approval of the first spot Bitcoin ETF in January 2024, causing a stir in the crypto community. This reversal in forecast led to a sharp decline in Bitcoin’s value within just a few hours.
- Matrix Port initially forecasted approval of Bitcoin ETF in 2024
- Later announced the rejection of all Bitcoin spot ETFs in January
Community Response and Speculations
The crypto community has raised concerns about manipulation of Bitcoin’s price following Matrix Port’s controversial forecasts. While some believe in the accuracy of the predictions, others are skeptical and demand transparency.
- Accusations of price manipulation by Matrix Port
- Skepticism about the accuracy of forecasts
Hot Take: The Future of Bitcoin ETFs
As a crypto enthusiast, you need to stay informed about the developments regarding Bitcoin ETFs. The recent events surrounding Matrix Port’s forecast and the subsequent market reaction highlight the volatility and uncertainty in the crypto market. It is essential to consider all sources of information and conduct thorough research before making any decisions related to Bitcoin investments.
Source: Youtube
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