After investors had been anticipating the approval of Bitcoin spot ETF for a long time, on January 10, 2024, there was an announcement of “Approval of Bitcoin spot ETF” from the US SEC. Today, Merkle Capital will summarize the overall picture to see the direction of the crypto market. What will happen in the future from now on?
Mr. Woramet Chansen, Investment Advisor, Merkel Capital Company Limited. Revealing important points of interest in January as follows:
1) Why the Bitcoin SPOT ETF is one of Bitcoin’s historic high points
This approval In addition to making Bitcoin It has increased in reliability. There is also a high chance of more money flowing into Bitcoin through Spot ETFs, as the AUM (Asset Under Management) of all ETF filings totals more than $27,000 billion.
2) It is expected that the market has already passed the short-term Price in price point.
Before the approval on January 10, 2024, the BTC price continued to rise until it tested $48,000, which if viewed in conjunction with a higher than usual Premium and Funding Rate. It was found that the market is confident that this approval will happen and is speculating quite heavily. At the beginning of the new year, rumors about the ETF’s failure to materialize led to Bitcoin’s price dropping from $46,000 to $42,000 before reverting back up to where it was before. This makes speculation quite difficult.
3) Crypto overview What will happen after approval?
In the medium term, the Ethereum SPOT ETF is another important issue that investors will be keeping an eye on. Led by a big player like Blackrock filing for registration from the US SEC, causing money to flow from $BTC into $ETH immediately after the announcement of the official approval of the Bitcoin SPOT ETF. The market is beginning to be interested in the approval of the Ethereum SPOT ETF, which is an opportunity for the Ethereum ecosystem or the Blockchain group to have continuous inflows of money until the final deadline in May 2024.
In the long run, because the Bitcoin SPOT ETF allows new investors or institutions to purchase only BTC, therefore, in the long run, BTC has a high chance of rising. Because there are more access channels, it’s easy, convenient, and has higher reliability than other cryptocurrencies, and you should keep a close eye on the situation of ETH SPOT ETF.
Mr. Mana Kaniyo, Head of Business Development and Sales Management, Merkel Capital Co., Ltd. Added that From the above overview, guidelines for investing in the crypto market. In the short term it is expected that The market is still highly volatile. But in the long term, it is expected that the price of Bitcoin will have a continuous upward trend. Important supporting factors such as the approval of the Bitcoin SPOT ETF have made Bitcoin more reliable. and easier access for new investors or institutions As a result, international adoption of Bitcoin is likely to increase. This can be seen from many countries that have begun to enact laws to support the use of Bitcoin, as well as the continuous development of Blockchain and DeFi technologies. This will have a positive effect on the price of Bitcoin in the long run. Any investor who would like to study additional information and advice from experts to make an informed decision. You can contact Merkle Capital, Thailand’s first digital asset fund manager.
**This article is intended to present information only. It is not investment advice in any way. Investments are risky. You should analyze carefully before deciding to invest. If you are worried or have any questions. You should consult with a financial advisor or find an investment advisor with expertise to help you make decisions.
About Cryptomind Group Holdings Co., Ltd. and Merkel Capital Co., Ltd.
CryptoMind Group Holdings Company Limited is a group of companies engaged in blockchain consulting and digital asset investment, consisting of Merkel Capital Company Limited, which is licensed as a manager. Digital asset funds from the SEC with an investment strategy in digital assets that investors can invest safely and CryptoMind Advisory Company Limited, Thailand’s first digital asset advisory service. It is officially under the supervision of the SEC, which provides consulting services. Analyzing digital asset investments for both individuals and legal entities. and event management such as Blockchain Thailand Genesis and communities such as Bitcoin Addict Thailand, digital asset knowledge pages such as Cryptomind Advisory Blockchain Review, Kim DeFi Daddy, Coinman and Sanjay Popli, which have a combined following of more than 500,000. people and to provide Thai people with an easier and safer way to invest in digital assets. For more details about our company, please see our website. https://cryptomind.group and https://merkle.capital/