In recent weeks, Bitcoin has had high volatility, expectations regarding a possible approval by the SEC (United States Securities and Exchange Commission) on Bitcoin and Ethereum ETF applications, scheduled between January 10 and 15, 2024. In addition to this, Tether has minted the astonishing figure of 2,000 million USDT in just 10 days. This event occurs after the recent minting of 1 billion USDT.
According to experts, this latest indication, and the existence of a strong correlation between the minting actions of Tether and notable increases in the price of Bitcoin, investors welcome a surge in the price of Bitcoin and altcoins.
If the SEC acts favorably next week, coupled with the minting of Tether, several analysts predict a "huge pump" in the value of Bitcoin, where it could exceed $48,000. However, they also warn of a possible subsequent pullback, which tempers investor optimism due to the well-known volatility of cryptocurrencies, causing either large gains or large losses.
What if the SEC rejects the long-awaited ETFs?
According to several experts, the price of Bitcoin could experience a sharp drop, falling back to $30,000.
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