Bitcoin Price Prediction as Recent Struggle at $38,000 Continues – Can BTC Overcome the November Ceiling?
As Bitcoin oscillates around the $37,872 mark, down by a marginal 0.20% on Thursday, investors and traders alike are closely monitoring its performance against a backdrop of evolving market dynamics.
The cryptocurrency world is buzzing with the entry of the 13th contender in the Bitcoin ETF race, alongside significant updates from BlackRock in their ETF model.
Amidst these developments, optimism is brewing in the investor community, with many setting their sights on a $40,000 milestone, as indicated by the CME Bitcoin futures. However, looming regulatory concerns, particularly those related to illicit financial activities, pose a potential threat to this ascent.
In this climate, notable voices like Robert Kiyosaki are advocating for investments in Bitcoin ETFs, pointing towards a diversifying landscape in crypto investment strategies.
Unexpectedly, Swiss asset manager Pando Asset has joined the race for the 13th slot in the U.S. Bitcoin ETF market, competing with notable entities like BlackRock, ARK Invest, and Grayscale. Analysts are scrutinizing Pando’s late entry, which aims to establish the Pando Asset Spot Bitcoin Trust, tracking the price of Bitcoin with Coinbase as the custodian.
The SEC’s decision date for ARK Invest’s proposal is set for January 10, aligning with a potential approval wave for spot Bitcoin ETFs, as noted by Bloomberg ETF analysts Eric Balchunas and James Seyffart.
We have a late entrant into the spot bitcoin ETF race…
Pando, who already offers crypto ETPs in Europe. pic.twitter.com/OamnqJrUNJ
— Nate Geraci (@NateGeraci) November 29, 2023
In response to SEC concerns, BlackRock has proposed revising its redemption model to include foreign companies paying U.S. broker-dealers in advance in cash, aiming to
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