The post XRP Lawyer’s Insight: How Spot ETF Approval Might Impact Bitcoin appeared first on Coinpedia Fintech News The cryptocurrency market’s perfect timing has historically created opportunities for significant events. John Deaton, a prominent attorney representing XRP holders ...
The cryptocurrency market’s perfect timing has historically created opportunities for significant events. John Deaton, a prominent attorney representing XRP holders in the SEC vs. Ripple lawsuit, believes that the anticipated approval of a Bitcoin ETF could be timed to perfection.
Spot ETF Approval Could Happen in Q2, Q3 of 2024
He suggested that this timing, set for the second or third quarter of 2024, coincides with crucial developments like the Bitcoin Halving and Federal Reserve rate decisions. With the potential approval of 8 to 10 spot Bitcoin ETFs, Deaton speculates that Bitcoin’s price could reach $220,000 within 18 months.
2025, A Year of Change in Crypto Regulations?
On the regulatory front, cryptocurrency influencer Wendy O noted the potential for changes in the regulatory landscape around 2025 with a shift in the U.S. presidential position.
Deaton explained that any crypto-related bills would need to pass through the House, the Senate, and the President, a process unlikely to conclude swiftly in an election year.
According to Deaton, the best-case scenario could mean it takes until the end of 2025 for new rules about stablecoins and other crypto matters to get approved. But this depends on a stable government, whether it’s led by Republicans or Democrats, with strong influence in the House and Senate.