What are bitcoin price prediction scenarios in the event of bitcoin ETF approval or disproval or delay?
If the SEC approves one or more spot bitcoin ETFs, this could trigger a major rally in the price of bitcoin, as it would open the doors for institutional and retail investors to access bitcoin in a convenient and regulated way.
Some analysts expect the price of bitcoin to soar above $150,000 or even $180,0002 by the end of 2024, if several spot bitcoin ETFs are approved.
If the SEC rejects all the spot bitcoin ETF applications, this could cause a sharp drop in the price of bitcoin, as it would signal a lack of regulatory support and clarity for the crypto industry. Some investors might lose faith in bitcoin and sell their holdings, creating a downward pressure on the price.
If the SEC delays the decision on the spot bitcoin ETF applications, this could create uncertainty and volatility in the price of bitcoin, as it would prolong the anticipation and speculation among investors and traders. The price of bitcoin might fluctuate depending on the news and rumors about the SEC’s stance and actions.
