Bitcoin, Ethereum, Dogecoin Trade Lower After Fed Minutes Indicate Rate Hikes: Tom Lee Predicts King Crypto At $180,000 Only If Spot ETF Gets Approved
Portfolio Pulse from Mehab Qureshi
Major cryptocurrencies including Bitcoin, Ethereum, and Dogecoin have experienced a drop in value due to a slump in trading activity. This comes as the SEC is evaluating applications for spot BTC ETFs. Stocks also took a downturn as investors processed potential rising interest rates from the Federal Reserve's July meeting. Analysts predict a potential surge in Bitcoin's price if the right fundamentals align, such as the approval of a spot Bitcoin ETF.
August 17, 2023 | 3:04 am
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NEUTRAL IMPACT
Bitcoin's price has dropped, but analysts predict a potential surge if a spot Bitcoin ETF gets approved.
The drop in Bitcoin's price is due to a slump in trading activity. However, analysts predict a potential surge if the SEC approves a spot Bitcoin ETF, which would increase demand for Bitcoin.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Dogecoin's price has dropped due to a slump in trading activity.
The drop in Dogecoin's price is due to a slump in trading activity. There is no specific news that could potentially cause a surge in Dogecoin's price.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Ethereum's price has dropped due to a slump in trading activity.
The drop in Ethereum's price is due to a slump in trading activity. There is no specific news that could potentially cause a surge in Ethereum's price.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80