The Potential Impact of ETF Approval on Bitcoin Price(2023)

The Potential Impact of ETF Approval on Bitcoin Price. In recent news from Blackrock, there was a rumor that Blackrock had applied for an XRP ETF. This led to a significant rally in the price of XRP, reaching around $0.75. However, within a few minutes, Blackrock clarified that this news was fake, causing XRP to settle down again at around $0.65. This incident highlighted the importance of being cautious and not falling for false information in the cryptocurrency market.Read more

If you are a long-term holder of XRP, experts suggest that the price could potentially reach between $7 and $10. However, it is crucial to make informed decisions and avoid falling victim to FOMO (fear of missing out). Many individuals experienced losses, liquidations, and purchased at the wrong points due to the FOMO surrounding this fake news. As we approach the bull rally, it is likely that we will encounter more fake news from various sources, making it even more essential to exercise caution and avoid entering incorrect trades or adding unreliable altcoins to your portfolio.

The Importance of Market Analysis.Read more

In his video, Aman from Crypto Aman discusses the potential scenarios for Bitcoin’s price, specifically focusing on whether it will drop to $48,000 or $30,000. He emphasizes the significance of market analysis and understanding the factors that can impact cryptocurrency prices.Read more

The Potential Impact of ETF Approval on Bitcoin Price

According to Aman, the first factor to consider is the CPA (Consumer Price Index) data, which is known for its volatility in the financial and crypto markets. Aman mentions that he will provide timely updates on the CPA data and open a long or short position based on the information. However, he believes that the market may not experience significant volatility on this particular day.Read more

The Potential Impact of ETF Approval on Bitcoin Price

The Potential Impact of ETF Approval on Bitcoin Price

The second critical factor discussed in the video is the SEC meeting taking place from November 9th to November 17th. During this meeting, the approval of ETFs is being discussed. Several companies have applied for ETF approval, with ARK’s 21Shares being the closest to potentially receiving approval. The final deadline for ARK’s ETF approval is June 10th, 2024, and the decision made will likely impact other ETFs as well.Read more

The Impact of ETF Approval or Rejection

According to Aman, if the ETF approval is granted during the ongoing SEC meeting, the price of Bitcoin could surge to $48,000. This surge would occur in three stages, with figures of $38,420, $45,000, and eventually $48,000 being reached within six days. However, if there is a delay in the approval or if it is rejected, Bitcoin’s price could drop to a range between $30,000 and $32,000. In the worst-case scenario of rejection, the price could even dip below $25,000.Read more

Chart Analysis and Price Predictions.Read more

To support his statements, Aman analyzes various charts in the video. The first chart examines Bitcoin’s price based on the 200-day moving average. This analysis suggests that Bitcoin could potentially land in the range of $32,000 to $32,800 if there is a delay in the ETF approval. In the case of rejection, the price could fall to approximately $25,600. On the other hand, if the approval is granted, there would be no limit to how high the price could rise.

The second chart discussed in the video focuses on a pattern of falling and rising corrections. Based on this pattern, if the resistance level that Bitcoin recently broke is not sustained, the price could enter a correction phase, potentially leading to a price range of $30,000 to $32,000.

Considering all the charts and fundamental factors, Aman concludes that Bitcoin’s price range is expected to be between $30,000 and $32,000. However, if the ETF approval is granted, the price could surge to levels between $45,000 and $48,000.

The Potential Impact of ETF Approval on Bitcoin Price

It is important to note that these predictions are based on analysis and speculation. The cryptocurrency market is highly volatile and subject to various external factors that can significantly impact prices. Therefore, it is crucial to stay informed, conduct thorough research, and make educated decisions when entering the cryptocurrency market.

The Potential Impact of ETF Approval on Bitcoin Price

Aman’s video provides valuable insights into the potential impact of ETF approval on Bitcoin’s price. It is essential to consider multiple factors, analyze charts, and stay updated with the latest news to navigate the cryptocurrency market successfully.

The Potential Impact of ETF Approval on Bitcoin Price