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 <p>Also Read: <strong>XRP Lawyer: US SEC Hiding Secret Howey Memo To Protect Itself</strong></p>  
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 <h2 id="us-sec-s-views-made-no-sense">US SEC’s Views Made “No Sense”</h2> 
 <p>Seyffart explained that the agency’s views made little sense as it differentiated between the spot and futures ETF applications. Earlier, CoinGape reported that the Bloomberg analysts see a 75% chance of a spot <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> ETF in 2023. Seyffart said the unanimous nature of the Grayscale filing and the decisive and harsh language that the judge used against the SEC made the analysts jump even further to raise the odds up to 75.</p> 
 <h2 id="bitcoin-etf-approval-only-a-matter-of-time">Bitcoin ETF Approval Only A Matter Of Time</h2>  
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 <p>The analyst reiterated that the analysts foresee the ETF approval happening and it is only a matter of time. He said the SEC has about 45 days before it can delay approve or deny and almost always they choose to delay before the final deadline. Hence, the first application that is pending next would be of Ark 21Shares <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> ETF, before January 10, 2024. This is part of the reason why the analysts are confident that it is going to happen in 2024 and then the rest are all in March 2024, he added, speaking in a recent interview.</p> 
 <p>Therefore, the fate of <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> ETF race could likely be decided in early 2024, after which the <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> price could likely skyrocket breaking the next range of resistance levels. The <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> Halving, which is another key event for the crypto ecosystem, is set to happen around April or May 2024.</p>  
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 <p>Also Read: <strong><a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> (BTC) Price Stalls as US Dollar Hits 8th Weekly Gain, Calls for Concern?</strong></p> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bloomberg-analyst-fate-of-bitcoin-to-change-in-early-2024-tbt61671.html">https://thebittimes.com/bloomberg-analyst-fate-of-bitcoin-to-change-in-early-2024-tbt61671.html</a></p>

Bloomberg Analyst: Fate Of Bitcoin To Change In Early 2024

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