The first week of 2024 brought a mixed bag of news for the cryptocurrency sector. The possibility of a Bitcoin BTC/USD ETF approval by the U.S. Securities and Exchange Commission (SEC) is still in limbo while “Dogecoin killer” Shiba Inu SHIB/USD sees a surge in its burn rate. Let’s delve into the top stories that made headlines in the crypto world.
Bitcoin ETF Approval: A Mixed Bag of Expectations – A recent Bitwise and VettaFi survey reveals that only 39% of financial advisors are confident about the SEC’s approval of a spot Bitcoin ETF in 2024. Several financial firms such as BlackRock, Inc. BLK, VanEck, and Valkyrie Investments eagerly await the SEC’s decision on their spot ETF applications for Bitcoin, scheduled for January 10. Read the full article here.
Peter Schiff’s Warning for Bitcoin ETF Approval Expectants – Economist Peter Schiff’s latest warning suggests a potential market disappointment for those waiting for a Bitcoin ETF approval rally. Schiff believes this event won’t follow the typical “buy the rumor, sell the news” strategy but rather a “buy the rumor, sell the rumor of the news” event. Read the full article here.
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Shiba Inu’s 2024 Prospects: Burn Rate Surges by 373% – Shiba Inu’s prospects for 2024 look cautiously optimistic due to an increase in daily transactions and a rising burn rate. Shiba Inu announced in December 2023 the launch of an automated burn mechanism set to take effect in January 2024. Read the full article here.
Crypto Analysts Favor Solana, Ethereum’s Supply Dynamics – Messari’s latest report highlights the relevance of crypto in 2024, calling Bitcoin the “Godzilla of Finance,” backed by the ETF approval and accounting changes supporting companies holding Bitcoin. Read the full article here.
Robert Kiyosaki’s Advice: Pay Attention To Bitcoin Halving – ‘Rich Dad, Poor Dad’ author, Robert Kiyosaki, urges his followers to closely monitor the upcoming Bitcoin halving. Read the full article here.
Read Next: Bitcoin, Ethereum, Dogecoin Plummet As $600M Longs Liquidated In A Single Day
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