Swan Bitcoin CEO Says BTC Headed For 'Big Bull Rally' Ahead Of ETF Approval: 'Real Signal In This Space'
Portfolio Pulse from Rounak Jain
Swan Bitcoin CEO Cory Klippsten predicts a 'big bull rally' for Bitcoin (BTC) in anticipation of a spot Bitcoin ETF approval by the SEC. Klippsten notes increased trading volumes and a recent price surge in BTC, with a year-to-date high of $38,742. He also mentions that older generations are investing more in Bitcoin compared to Gen Z. The narrative around Bitcoin is shifting towards it being a safe-haven and hedge against monetary inflation.
December 02, 2023 | 3:52 am
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Bitcoin is expected to rally with the potential approval of a spot Bitcoin ETF by the SEC, as indicated by Swan Bitcoin CEO Cory Klippsten. Trading volumes have doubled, and the price has recently hit a year-to-date high.
The anticipation of a spot Bitcoin ETF approval is a significant event that could lead to increased institutional and retail investment in Bitcoin. The CEO's comments on increased trading volumes and the recent price surge suggest a positive short-term impact on Bitcoin's price.
CONFIDENCE 75
IMPORTANCE 90
RELEVANCE 100