ETFs have been approved in Hong Kong - how will this affect the price of Bitcoin?
As you know, the Hong Kong regulator has finally approved 5 applications to launch ETF instruments for the two largest cryptocurrencies. Now China Asset Management, HashKey Capital Limited, Bosera Capital and Harvest Global Investment will be able to sell shares in funds for both BTC and ETH. Experts believe that such a solution can become a “springboard” for the price of Bitcoin. As, for example, it happened in January, when the first spot funds were opened in the United States. Bitcoin price forecast for April 2024 The fact that the Chinese regulator is going to give permission to launch new ETFs for Bitcoin and Ethereum was known already last week. However, the companies themselves may need a few more weeks for a full release, so the opening should be expected around the end of April. Experts note that against the backdrop of the Commission’s decision, the global cryptocurrency market began to gradually recover. This is good news for the industry, which has been in a period of general decline over the past week. This is not least due to the escalating conflict between Iran and Israel. Now BTC has the potential for sharp growth. At its peak, the asset is capable of reaching $124,000. Since the token is already almost 2 times higher than analysts’ forecasts, its future price may increase significantly. Amid the launch of spot ETFs and capital inflows, some are expecting a record high of $200,000. Such a change in the exchange rate of coins is quite difficult for those who are just starting to work with the crypto market, which is why in 2013 the information portal 99Bitcoins was created. He helps inexperienced investors understand the world of digital assets and make profitable deals.
For 11 years, the service has been providing useful information about Bitcoin and other coins. In addition, it offers a number of courses (the most popular is Bitcoin Crash), webinars and tests. All these materials were previously in great demand. However, now the new management has decided to introduce Learn-to-Earn technology and make the entire learning process exciting and profitable. In March, the platform changed owners, who plan to update it on a large scale. The team is going to create profiles on TikTok and X Spaces, as well as launch their own podcast. The developers have also added a staking mechanism with payments over the next 2 years. Plus, all early investors will have access to a BTC airdrop worth $99,999.
With the help of 99Bitcoins materials, users will learn that halving can affect BTC in two different ways. It will either push the asset to new highs of more than $100 thousand, or lead to a decline. Experts from J.P. speak in favor of the second option. Morgan. They believe that after the halving, the price of Bitcoin will most likely drop immediately to $42 thousand. for a coin.
No matter how unpredictable the Bitcoin price may be, there are still projects on the market that can bring income in the long term. For example, 99Bitcoins uses the high volatility of the coin to create educational materials. In turn, novice traders will earn cryptocurrency and learn by observing the volatility of BTC. The versatility and potential profitability of this approach will attract more users and create an active and serious community. It will support the project and help it develop. At the same time, the income of its participants will directly depend on the number of successfully completed courses, and not on Bitcoin jumps.
