Bitcoin Price Prediction: BTC Falls After Gary Gensler Says SEC Is Taking a ‘New Look’ at BTC ETF But Bitcoin Poised to Explode with ETF Approval, Token Sells Out Quickly there is.

adminDecember 16, 2023

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Bitcoin price has been trading down 1% over the past 24 hours. $42.4K 8:30 AM EST.

This comes after Securities and Exchange Commission (SEC) Chairman Gary Gensler said regulators were taking a “fresh look” at spot Bitcoin exchange-traded fund (ETF) applications after several legal difficulties. It will.

“In the past, we have denied many of these applications, but the courts here in the District of Columbia have weighed in on them,” Gensler said. “So we are taking a fresh look at this issue based on the court ruling.”

🇺🇲 SEC Chairman Garry Gensler commented: @CNBC About spots #Bitcoin ETF.
In the past, BlackRock refused to cover these ETFs, but now… What I mean is that the courts in DC got involved and now the SEC has to process these ETF applications again. 😅
What do I remember… pic.twitter.com/QrD42zaLIo
— Seth (@seth_fin) December 14, 2023

Bitcoin price prediction

Despite this news, Bitcoin’s near-term trajectory remains uncertain, as the indicator shows by looking at the 45-minute BTC/USD chart. The 50-day moving average crossed the 200-day moving average, forming a golden cross. This suggests that Bitcoin price will remain strong in the near term.

The Relative Strength Index is also on a downward trajectory, heading into oversold territory. The MACD also moves into the red zone, showing weakness for Bitcoin as resistance is felt at $44.6K. Both demonstrate uncertainty in the price of Bitcoin, which is expected to remain bearish in the near term, with the possibility of a breakout open either way.

The Bollinger Bands move close to each other, showing low volatility in the Bitcoin price. This may be due to decreased trading activity, with Bitcoin trading volume down 26% in the last 24 hours.

Meanwhile, with the price of Bitcoin plummeting, the new Bitcoin ETF token appears to be a great alternative investment for: BTCETF Pre-sale Pre-sale value has now exceeded $4.1 million. The current price of BTCETF token is $0.0068.

Bitcoin Price Prediction: Is BTCETF a Better Alternative?

With Bitcoin briefly reaching $45,000 before stabilizing around $42,000, investors are taking advantage of the current stability while anticipating a possible record surge in the digital asset’s price.

BTCETFan Ethereum-based token, incorporates a burn mechanism triggered by ETF approvals, launches, and other milestones, ensuring immediate benefits to token holders at critical moments.

As the competition for supremacy in the ETF market intensifies and Vanguard and BlackRock vie for supremacy, BTCETF is ready to capitalize on the potential for a surge in the price of Bitcoin if its application is approved.

#secretary Establishes a new “cash repayment model”. #Bitcoin dot #ETFs Applicants influencing acceptance criteria.@InvescoEMEA At first, adopt it. @black stone Introduces “prepayment” to make Wall Street participation easier.
How can these models reshape ETF accessibility?#Bitcoin ETF have… pic.twitter.com/NN4nnfEJ2M
— BTCETF_Token (@BTCETF_Token) December 14, 2023

Long-Term View: SEC Approvals and Economic Change

invest BTCETF This goes beyond short-term bets on SEC approval and allows investors to prepare for important economic moments. As global economic dynamics change, the potential for mainstream acceptance of Bitcoin with spin-off benefits for derivative coins such as BTCETF is gaining attention.

The value proposition of the token is strengthened by the reduction in total supply and transaction tax at each milestone.

In summary, Bitcoin ETF tokens present a unique investment opportunity with the potential for significant returns in the rapidly evolving cryptocurrency landscape. With this in mind, the new BTCETF token could be a great alternative to Bitcoin itself.

Get BTCETF tokens here.