Bitcoin Price Prediction as BTC Breaks $33,000: Is the 'Next Wave' Here?
Bitcoin, once again, is generating buzz as it surges past the $33,000 mark, raising speculations about a possible "next wave" in the cryptocurrency realm.
Experts suggest that a potential market shakeup is on the horizon, underscored by a billionaire's choice to bolster his gold and Bitcoin reserves amidst fears of a significant downturn for the US dollar.
The fervour was further intensified by an erroneous report suggesting the US Securities and Exchange Commission (SEC) had greenlit a Bitcoin ETF, causing a market frenzy that affected even stablecoins like Ethereum and XRP.
Now, with a plausible US Bitcoin spot ETF approval, the crypto market's valuation could see an addition of a whopping $1 trillion.
As the much-discussed Bitcoin halving event approaches, traders, investors, and crypto enthusiasts worldwide await potential market tremors.
In a pivotal development, the US Court of Appeals has directed the Securities and Exchange Commission (SEC) to reevaluate Grayscale Investments' application for a Bitcoin spot exchange-traded fund (ETF).
This order stems from an Oct 23 documentation in the US Court of Appeals for the District of Columbia Circuit, following the SEC's decision not to challenge the court's initial verdict on Aug 29.
Reinforcing the court's Aug. 29 decision, the Oct. 23 order grants Grayscale a renewed opportunity to transform its Grayscale Bitcoin Trust into a Bitcoin ETF on the market.
The SEC has consistently withheld approval for any spot crypto ETFs on US exchanges, though it has endorsed investments tied to Bitcoin and Ether futures.
Additionally, on Oct. 19, Grayscale strengthened its stance by presenting a registration statement to the SEC, aiming to have its Bitcoin trust shares listed on the New
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