Bitcoin Could Surge To $60K Amid ETF Approval Expectations, Says Top Analyst DonAlt
Portfolio Pulse from Benzinga Neuro
Crypto analyst DonAlt predicts Bitcoin could surge to $60,000 due to expectations of a spot-based Bitcoin ETF approval. He remains bullish, dismissing bearish sentiments and suggesting a higher likelihood of Bitcoin reaching $100,000 than falling to $12,000. BlackRock anticipates SEC approval for its Bitcoin ETF by January 2024, with decisions on twelve ETFs expected by November 17. Bloomberg analysts Seyffart and Balchunas see a 90% chance of approval by January 10, 2024.
November 14, 2023 | 3:50 am
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POSITIVE IMPACT
DonAlt's bullish prediction and the anticipation of a spot-based Bitcoin ETF could drive Bitcoin's price up in the short term, especially if the SEC approves the ETF applications.
The article directly relates to Bitcoin's potential price movement based on the expectations of a spot-based Bitcoin ETF approval. DonAlt's bullish stance and the anticipation of SEC decisions are likely to influence investor sentiment and could lead to a short-term price increase for Bitcoin.
CONFIDENCE 75
IMPORTANCE 90
RELEVANCE 100