We are going through an extremely important week: it is expected that this week, information about the fate of BTC Spot ETF will be announced. This could be an important event in the history of Bitcoin, when Bitcoin will be accepted by major funds in US, the largest economy in the world.
Similar to what happened with the Gold Spot ETF: after it was approved, gold prices rose sharply for many years.
I expect that this will also happen with BTC price once the BTC Spot ETF is approved.
Some analysts say that there is still a possibility that BTC Spot ETF will be delayed until March by SEC to limit investor FOMO right now, and this could be the reason why BTC price corrected after many months of recovery. Very good costume from $15K to $45K.
Personally, I believe that BTC Spot ETF will be approved, simply because SEC does not dare to confront large funds like BlackRock or Fidelity in court. SEC also recently published a post reminding investors not to get too FOMO into crypto. It sounds like it's their "denial".
The deadline for SEC to announce the final decision is approaching, what is your assessment of the possibility that BTC Spot ETF will be approved? Do you think its impact on the crypto market will be positive or negative?