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“All ETFs Will Be Approved,” MELD CEO Reveals Bold BTC Predictions
Ken Olling, Founder and CEO of MELD, is anticipating a significant surge in Bitcoin prices, labeling it a “panic-level” rally. In an interview with Kitco, Olling opened up about the current speculation surrounding approving a spot Bitcoin ETF and provided his price forecasts for 2024 and 2025.
The CEO highlighted the imminent decision by the SEC on January 24th regarding the spot Bitcoin ETF application. Olling stressed the positive track record of BlackRock, a key player in ETFs, and expressed confidence in their application’s approval, citing the potential boost it could bring to Bitcoin prices.
Olling discussed the widespread anticipation within the crypto community for a price dip following the ETF approval news, followed by consolidation, marking the onset of the next bull market. However, he offered a contrarian view, suggesting that the expected downturn might not materialize as predicted due to increased market activity post-approval.
He said, “So people see this coming; they see that people are starting to accumulate Bitcoin because they know they will have places to sell it to, whether it’s BlackRock or Fidelity or the other dozen ETFs in the application. All of them will be, or most will be, approved. The SEC can’t simply approve BlackRock and then not approve these other ones; it would be a complete disaster from management from their side.”
Addressing the likelihood of approval, Olling stated a high confidence level, estimating it at “north of 97-98%.” He projected that the approval would trigger a surge in Bitcoin prices, potentially reaching 75,000 to 80,000 USD, setting a new all-time high.
Looking ahead, Olling presented a bold forecast of Bitcoin exceeding $300,000 by September 2025. He attributed this projection to the expected influx of institutional money through ETFs and macroeconomic factors such as inflation concerns and a weakening dollar.
#ContentStar# #BountyCreator# #GateioBountyCreator# #NewsMessenger# #GateLive# #contentstar# #MyFancyCreator# #HotTopicDiscussion# BlackRock XRP Trust Filing Revealed As Fake, SEC Deadline Approaches for Bitcoin ETFs
The post BlackRock XRP Trust Filing Revealed as Fake, SEC Deadline Approaches for Bitcoin ETFs appeared first on Coinpedia Fintech News
Recently, a filing for a BlackRock XRP Trust has been exposed as a fraudulent submission, stirring confusion and concerns in the cryptocurrency and financial world. James Seyffart, an ETF Research Analyst at Bloomberg, played a pivotal role in uncovering the hoax.
The fake filing cunningly mimicked the format of legitimate trust submissions, closely resembling previous filings for Ethereum and Bitcoin trusts. Initially, this led to speculations about BlackRock potentially confronting the U.S. Securities and Exchange Commission (SEC). However, Seyffart’s investigation promptly clarified that BlackRock had no involvement in the deceptive filing.
Upon contacting BlackRock for an official statement, Seyffart and his colleagues received a categorical denial of any association with the XRP Trust filing. BlackRock expressed its commitment to investigating the situation thoroughly to ascertain the source of this fraudulent document. Seyffart acknowledged the significant effort put into creating the fake filing, prompting questions about the motives behind such deceptive activity.
In a recent conversation with Thinking Crypto, Seyffart shed light on an imminent deadline set for November 17th. This deadline is particularly crucial due to the current window in which 12 Bitcoin filings are pending, each with distinct deadlines. Concerns about a government shutdown at the end of September influenced the SEC’s decision to reset these deadlines.
While these filings have diverse deadlines, they share a joint restriction—they cannot proceed during an expected period, typically a 21 or 35-day interval for public input after a decision. This restriction was lifted on November 8th, allowing the first nine filers, including major entities like BlackRock, Invesco, Fidelity, AR, 21 shares, and VanEck, to receive a decision potentially.
Seyffart emphasized that while there may still be delays in the approval process, it’s highly likely that if a filing receives approval before others, the corresponding S1 filing will also gain approval, ultimately leading to the launch of these ETFs.
However, the focus now shifts to hash dex and Franklin, among others, scheduled for a decision on November 17th. The uncertainty lies in whether they will enter a standard period. The window between the 8th and the 17th allows the SEC to potentially approve all 12 filings simultaneously under the 19(b)(4) process. Additionally, Global X faces a decision on the 21st, introducing another layer of complexity with a subsequent 35-day standard period.
As the cryptocurrency and ETF markets eagerly await these crucial decisions, the recent BlackRock XRP Trust filing hoax is a stark reminder of the need for vigilance and scrutiny in this rapidly evolving space.
#ContentStar# #BountyCreator# #GateioBountyCreator# #NewsMessenger# #GateLive# #contentstar# #MyFancyCreator# #HotTopicDiscussion# As of November 15, 2023, the current price of Kaspa (KAS) is $0.109119 with a 24-hour trading volume of $128.83M. The market cap is $2.35B, and the market dominance is 0.17%. The KAS price increased 23.61% in the last 24 hours.
Long-term price prediction
According to CoinCodex's price prediction algorithm, the price of Kaspa (KAS) is expected to reach $0.284128 by November 2024. This represents a potential increase of 160% from the current price.
Short-term price prediction
In the short term, the price of Kaspa (KAS) is expected to continue to trend upwards. The current upward trend is supported by the fact that the KAS price is above the 50-day and 200-day moving averages. Additionally, the Relative Strength Index (RSI) is currently at 69, which is considered to be overbought territory. This suggests that there may be some profit-taking in the near future, but the overall trend is still bullish.
Overall, the long-term and short-term price predictions for Kaspa (KAS) are bullish. The current upward trend is expected to continue, and the price is expected to reach $0.284128 by November 2024.
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