Bitcoin ETF

Bitcoin

Spot

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/warning-of-potential-bitcoin-crash-if-spot-etf-is-rejected/" data-wpel-link="internal">Warning of Potential Bitcoin Crash if Spot ETF is Rejected</a><br></p>
<p style="text-align: justify">Anonymous crypto analyst <strong>DonAlt</strong>, warned subscribers on the TechnicalRoundup YouTube channel that a rejection of the spot <a href="https://en.coin-turk.com/is-bitcoin-targeting-above-50000-amidst-etf-approval-speculations/" data-wpel-link="internal">Bitcoin</a> exchange-traded fund (ETF) by the US Securities and Exchange Commission (SEC) could lead to a significant crash. The analyst expects Bitcoin (BTC) to fall by about 37 percent from its current level if ETFs are not greenlit.</p> 
<h2 style="text-align: justify" id="strong-donalt-outlines-potential-outcomes-if-spot-bitcoin-etf-is-denied-strong"><strong>DonAlt Outlines Potential Outcomes if Spot Bitcoin ETF is Denied</strong></h2> 
<p style="text-align: justify">Closely followed crypto analyst DonAlt said the SEC’s decision on the spot Bitcoin ETF is critical. Summarizing the potential outcomes if the US regulator does not approve the ETF, he stated:</p> 
<blockquote> 
 <p>If we are now talking about a rejection from the SEC, I am quite clear about what will happen. I expect it to fall below the consolidation range of $33,000 to $38,000, and even pull back to around $24,000.</p> 
 <p>Basically, the market structure was not really favorable just above $24,000, and I think the rise from $27,000 to $28,000 was almost entirely due to the ETF.</p> 
 <p>So if a rejection comes out, we will return to that area. This means that in the worst case, it could drop to $27,000-$28,000.</p> 
</blockquote> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-298666" src="https://coin-turk.com/wp-content/uploads/2024/01/Spot-Bitcoin-ETF-1.jpeg" alt="" width="1280" height="720"></p> 
<h2 style="text-align: justify" id="strong-donalt-also-warns-of-a-potential-decline-even-if-etf-is-approved-strong"><strong>DonAlt Also Warns of a Potential Decline Even if ETF is Approved</strong></h2> 
<p style="text-align: justify">DonAlt also indicated that the approval of a spot Bitcoin ETF in the US could also have a bearish effect on BTC, saying “An approval, many people will say ‘hey, an approval is a trigger for a massive rally.’ I claim we have priced in most of it, but it may cause some short-term upward effect,” and added:</p> 
<blockquote> 
 <p style="text-align: justify">If an approval comes out from the SEC, I think there will probably be an upward jump. I’m not so sure about that anymore, but it could be a rise that many people will sell into. I think this will also pull us down a bit. If approval comes out, we might drop towards $38,000 and then rise above $40,000.</p> 
</blockquote> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/warning-of-potential-bitcoin-crash-if-spot-etf-is-rejected/" data-wpel-link="internal">Warning of Potential Bitcoin Crash if Spot ETF is Rejected</a></h5>

Warning of Potential Bitcoin Crash if Spot ETF is Rejected

Table of Contents

COINTURK NEWS

Other articles published on Jan 5, 2024

Celsius moves to unstake $470m in ETH for creditor repayments

AngioDynamics Stock Drops 24% After Q2 Earnings Report

Tinjau Ulang Pajak Kripto di Indonesia

The 2 (Two) Biggest Presales In Crypto That Are Still Ongoing, Investors Pouring Funds In

Will Bitcoin Spot ETFs Get Approval Today? What Developments Are Expected? Crypto Journalist Expl...

Cardano (ADA) Surges 245% Ahead of Ethereum (ETH) in Development Race

Join our free newsletter for daily crypto updates!