The cryptocurrency world, which experienced significant losses throughout 2022, was shaken every week with new bankruptcy news, causing investors to go through tough times. In 2023, the chaos subsided compared to the previous year, but still, every calm week brought important developments and sleepless nights for investors. In 2024, investors are more hopeful, anticipating joyful days and nights filled with excitement.
Despite various macro developments, Bitcoin’s price continues to rise, and US data looks very positive. However, in the event of a possible downturn, the outbreak of a contagious disease in China could be used as an excuse. The question of whether the world dares to enter another global pandemic process similar to the COVID era is a difficult one, but it should be kept in mind.
Following numerous applications for changes in the Spot Bitcoin ETF in mid-October, the Securities and Exchange Commission (SEC) has postponed its decision for many applications, including BlackRock, Fidelity, ARK Invest, and 21Shares.
As the decision dates approach on January 10, after about 40 days, meetings between potential issuers and the SEC are increasing. Updates and various details indicate that ETF approval could be possible on January 9 or 10, despite being a low possibility.
The phenomenon of “buy the rumor, sell the news” is commonly encountered with cryptocurrencies, and a similar process is likely to be expected with the approval of the Spot Bitcoin ETF. At least some analysts think so. It is known that ETF approval is actually a long-term price catalyst and an important driving force for cryptocurrencies as it continuously injects institutional liquidity.