Bitcoin's Volatility Surges as SEC Delays Bitcoin ETF Decision, Bloomberg Analysts Predict 75% Chance of Approval in 2023
Summary:
Bitcoin's volatility increases as SEC delays Bitcoin ETF decisions. Bloomberg analysts predict a 75% chance of ETF approval in 2023. September historically challenging for Bitcoin. Major altcoins affected. Charts analyzed for top-10 cryptocurrencies.
Bitcoin's price has become more volatile in recent days, with a surge on Aug. 29 followed by a sharp drop after the SEC delayed decisions on Bitcoin ETF applications. The approval of Bitcoin ETFs remains a key factor in the market, with Bloomberg analysts predicting a 75% chance of approval in 2023. However, historical data shows that September has traditionally been a challenging month for Bitcoin, with negative returns in the past six years. The weakness in Bitcoin is also impacting other major altcoins, which are approaching key support levels. Let's analyze the price charts of the top-10 cryptocurrencies to assess their future movements.
Published At
9/1/2023 6:41:25 PM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.