Bitcoin ETF not coming? Not yet!

Last Updated: 11. Januar 2024By

Confusion surrounding the alleged approval of the first Bitcoin ETF in the US.

On Tuesday evening, a message came from the X-Account (formerly Twitter) of the US Securities and Exchange Commission (SEC) stating that the agency had approved the spot-based ETF. As a result, Bitcoin prices shot up to nearly $48,000.

However, SEC Chairman Gary Gensler clarified that the agency has not yet granted approval and that the account had been hacked.

As a result, Bitcoin prices dropped significantly. Within a few hours, it fell below $45,000. It seems that all means are being used to influence prices in one direction or another.

Controversy over Bitcoin ETF – prices on a rollercoaster Source:

Despite this development, the market is still expecting an ETF approval. There are no compelling reasons to reject the approval, unless the SEC comes up with some new ones.

Nevertheless, it would have been worth it to invest in this asset. Bitcoin was one of the most successful assets in the past, generally good year on the stock market. Readers of my stock market service Voigts Global Profits were able to achieve a whopping +77.51% profit in just a few months.

My Bitcoin target for the end of 2024 can only be found here. How you should now behave regarding an investment in Bitcoin, what price target I see for Bitcoin by the end of the year (regardless of today’s outcome of the ETF issue), and which other important developments are currently influencing the price, can only be found in my stock market service Voigts Global Profits.