Matrixport: If the U.S. SEC rejects the Bitcoin spot ETF, Bitcoin will quickly drop by 20%

Bitget2024/01/03 10:55

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!

A welcome pack worth 6200 USDT for new users! Sign up now!

According to a report by Matrixport, the SEC is expected to reject all proposals in January as none of them meet a key requirement. Currently, it's unlikely that the Democrat-led five-member SEC voting committee will approve Bitcoin spot ETFs, as this would legitimize Bitcoin as an alternative value storage method.

If the SEC refuses approval, there will be large-scale liquidation activities in the m arket and Bitcoin prices could quickly drop by 20%. Even so, Matrixon Target still predicts that even if the SEC rejects ETFs, Bitcoin prices will still be higher than $42,000 at the end of 2024.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.

Trade now！

Matrixport: If the U.S. SEC rejects the Bitcoin spot ETF, Bitcoin will quickly drop by 20%

You may also like

Crypto prices