Bitcoin has surpassed the $40,000 threshold and registered highs of over $42,000, making investors consider pouring wealth into the asset from the smallest to the largest. Now’s a good time to learn to buy Bitcoin with credit card or other preferred method if you’ve long postponed the moment of acquisition, as general hopes point to a healthy price performance and a commitment to an upward trajectory, signaling a good year closing and overall December performance.
With all the noise surrounding the main upcoming event in the crypto ecosystem come varying crypto guru opinions, and next month’s announcement of the SEC makes no exception. The SEC has long postponed a final decision on whether spot Bitcoin and Ethereum ETFs will be approved, leaving filling companies such as Fidelity, Invesco, BlackRock, Ark Invest, and others sitting on the edge of their seats.
The crypto community focuses on how impactful the upcoming event will be for the leading cryptocurrency and whether the outcome will be for the better or worse. Generally, assumptions are optimistic, all hinting at BTC price growth around or after the SEC’s conclusion. Still, more about the guru’s beliefs and overall community feeling should be grasped and analyzed, so let’s get started.
SEC’s conclusion on the spot BTC ETFs awaited in January
The approval of a spot BTC ETF would represent a milestone in the cryptocurrency’s history, so its community and loyalists hold high hopes for the upcoming weeks. Discussions between asset managers holding pending spot BTC ETF applications and the SEC have progressed, and despite general displeasure with the asset’s volatile and speculative nature, the odds are in the ETF’s favor.
The parties involved in establishing the ETF’s future and supporting its financial development are now analyzing technical details, indicating that authorization can be on the horizon.
Over ten companies, including those enumerated above, aspire for a green light from the institutions, which could be present by the end of January – approximately two weeks from the moment of writing.
For ETF investors, the approval of the BTC ETFs could be the most significant news to receive. Similarly, companies involved in such developments could highly earn on the back of their projects.
Momentarily, US investors can only invest in BTC futures ETFs as these tools are the only ETFs to have been approved. This means they can get agreements to purchase or get rid of BTC in the future for a pre-established price. On the other hand, investing in BTC spot ETFs equates to investing in the cryptocurrency right away.
Traders’ opinions on Bitcoin’s accomplishments point in several directions
Bitcoin market experts hold diverse opinions regarding how the asset’s behavior will evolve in the future and what will transpire with the nearly $100 million in sell-side liquidity when it reaches the $45,000 mark. The crypto held onto a firm trading range until the weekly close of this December’s last Sunday, with a trader forecasting a forthcoming growth in the asset’s price and other pundits foreseeing similar price surges.
For an enhanced grasp of BTC’s latest performance, it’s worth looking into the results from an analysis conducted by TradingView and Cointelegraph Markets Pro over the weekend. Bitcoin resisted volatility after the last set of US macro data. Furthermore, crypto market gurus such as Credible Crypto, a reputed analyst and trader, believe the reigning crypto is bound to stick to an upward trajectory.
Order book info for BTC/USDT exhibited the crucial resistance level, posing a new challenge for traders. And in spite of this, other renowned personalities in the crypto space, such as the co-founder of Material Indicators, Keith Alan, consider that this holiday’s trading activity might be insufficient for ethe bulls to overcome. However, he indicated that the resistance level could lower, should liquidity owners migrate.
Per total, Bitcoin’s indicating a fair year closing
Bitcoin seems to be heading to a fairly decent year, closing and encapsulating an equitable general performance for December, which most crypto gurus can attest to. Analysis from CoinGlass, a statistics provider, indicates month-to-date wins at approximately 16%, according to the last reviews on December 23. However, what’s heartwarming is that the quarterly performance of the asset marks the first ATH since 2020, standing at 62%.
Plus, the price forecasts for Bitcoin from the POV of heavyweights like Cointelegraph focus on a potential achievement of the price point of $48,000. Most of these price performance improvements are attributed to the much-awaited decision of the SEC regarding implementing the first spot BTC ETF and, consequently, Ethereum. The same optimistic beliefs come from the second-best cryptocurrency community, too. A widespread theory, whatsoever, concentrates on an impressive market reversal occurring right after the announcement, anticipated by January 10 of the upcoming year.
Significant investments ahead of SEC decision – gurus spot a positive signal
Just like before any event that can fuel a price revival and increase, the largest and best-prepared investors keep tabs on how the prices fluctuate and invest in a specific asset well before it starts its upward trajectory. As Bitcoin is expected to see demand grow and boost the asset’s price, large investors like MicroStrategy are getting their ducks in a row and pouring large amounts of money into the investment. MicroStrategy, a giant software company, has kept its commitment to BTC by accumulating quantities of it. The decision was taken after the price of Bitcoin reached highs of more than $42,000 and raised hopes for a continuous improvement.
The company, which broke into the crypto market in august of 2020 with a BTC investment worth $250 million, has ever since continuously poured money into the asset, building a treasury reserve accounting for $8.11 billion in Bitcoin at the present moment. Fast forward and, on 27 of this December, the heavyweight revealed that they’ve invested together with its subsidiaries a total of $615 million in cash in Bitcoin while it was priced at $42,110, including expenses and fees.
Wrapping up
As next year’s halving and SEC decision announcements are approaching, large companies with fabulous market caps invest arduously in Bitcoin to reap the benefits of their premature, quick-witted moves later. Bitcoin’s bound to behave well in the upcoming weeks, so investors can expect bright days ahead, all on the back of the SEC’s final decision, together with impactful events like the arriving halving.