Bitcoin, Ethereum, Dogecoin Trade Mixed As BlackRock, Nasdaq, SEC Meet Once Again: Analyst Says King Crypto Could Touch $160K By 2024 Amid Halving, Spot ETF Buzz
Portfolio Pulse from Mehab Qureshi
The cryptocurrency market showed mixed results as Bitcoin, Ethereum, and Dogecoin experienced varied trading performances. A meeting between BlackRock, Nasdaq, and the SEC discussed the potential listing of a spot bitcoin ETF on Nasdaq. Meanwhile, the stock market declined with the S&P 500 and Nasdaq Composite both falling. Analysts predict Bitcoin could reach $160,000 by 2024 due to factors like ETF demand, the halving event, and macroeconomic conditions. On-chain data indicates a bullish trend for Bitcoin with the potential to surpass $45,000.
December 21, 2023 | 3:02 am
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POSITIVE IMPACT
Nasdaq's potential listing of a spot bitcoin ETF could enhance its product offerings and attract more trading volume, possibly influencing its stock price.
The listing of a spot bitcoin ETF on Nasdaq would be a significant development, likely leading to increased trading activity and revenue for Nasdaq, which could positively affect its stock price in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 70
NEUTRAL IMPACT
BlackRock's involvement in discussions about a spot bitcoin ETF could signal its continued interest in the crypto space, potentially affecting its stock.
BlackRock's participation in the meeting is significant but does not guarantee immediate stock movement. The outcome of the discussions and investor sentiment will play a role in the short-term impact.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
FedEx's performance weighed heavily on the S&P 500, indicating a negative impact on its stock price following the market downturn.
FedEx's negative influence on the S&P 500 suggests that its stock price has been under pressure, which could continue in the short term as investors react to the market downturn.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 80