2024-01-11 02:31:47
[비즈니스포스트] The U.S. Securities and Exchange Commission (SEC) approved the launch of a Bitcoin spot ETF, bringing good news to the market, but analysis suggests that there is still a possibility that the price will fall sharply.
As most Bitcoin investors are seeing valuation gains due to the recent price rise, they can pour out a large number of items for profit taking at an early date.
▲ Even with the approval for the launch of Bitcoin ETF, there are predictions that many investors will take profits, leading to a steep price decline. Bitcoin graphic image.
According to CoinDesk, a virtual currency magazine, on the 11th, there is a prediction that the Bitcoin price may enter an adjustment period in the near future.
Citing an analysis by research firm CryptoQuant, CoinDesk reported that approximately 90% of Bitcoin supply is seeing a valuation difference compared to the time of purchase.
As of early 2023, only regarding 50% of the volume is seeing valuation gains, but the continued price rise last year means that most investors can now see profits.
The biggest factor contributing to the rise in the Bitcoin price is considered to be the possibility of the Securities and Exchange Commission approving the Bitcoin spot ETF.
The Securities and Exchange Commission finally permitted the launch of spot ETFs, which brought good news to the market, but some say that this might actually be a factor encouraging investors to take profits.
CryptoQuant pointed out the possibility of a large-scale selling trend in a short period of time, saying, “The volume of investors who have not yet realized their profits is increasing the risk of a steep price decline.”
There was also speculation that when the Bitcoin price reaches the $48,500 level, price adjustments will begin in earnest and this outlook might become a reality.
CryptoQuant mentioned the possibility that the Bitcoin price might potentially fall to a level that forms a support line around $30,000 to $34,000.
Currently, the Bitcoin price on major exchanges is trading at around $46,566. Reporter Kim Yong-won
1704942312
#approval #Bitcoin #ETF #warning #market #price #decline #increases #possibility #investor #profit #increases
