Bitcoin
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$66,586.00 5.96286
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Ethereum
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$3,568.05 2.73685
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BNB
BNB (BNB)
$414.42 0.03244
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$129.44 -0.64179
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$0.6477170 3.55404
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$0.0000074 30.86942
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$0.0000396 54.3987
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Bitcoin
Bitcoin (BTC)
$66,586.00 5.96286
Bitcoin price
Ethereum
Ethereum (ETH)
$3,568.05 2.73685
Ethereum price
BNB
BNB (BNB)
$414.42 0.03244
BNB price
Solana
Solana (SOL)
$129.44 -0.64179
Solana price
XRP
XRP (XRP)
$0.6477170 3.55404
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000329 49.96982
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000074 30.86942
Pepe price
Bonk
Bonk (BONK)
$0.0000396 54.3987
Bonk price
Bitcoin
Bitcoin (BTC)
$66,586.00 5.96286
Bitcoin price
Ethereum
Ethereum (ETH)
$3,568.05 2.73685
Ethereum price
BNB
BNB (BNB)
$414.42 0.03244
BNB price
Solana
Solana (SOL)
$129.44 -0.64179
Solana price
XRP
XRP (XRP)
$0.6477170 3.55404
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000329 49.96982
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000074 30.86942
Pepe price
Bonk
Bonk (BONK)
$0.0000396 54.3987
Bonk price
Bitcoin
Bitcoin (BTC)
$66,586.00 5.96286
Bitcoin price
Ethereum
Ethereum (ETH)
$3,568.05 2.73685
Ethereum price
BNB
BNB (BNB)
$414.42 0.03244
BNB price
Solana
Solana (SOL)
$129.44 -0.64179
Solana price
XRP
XRP (XRP)
$0.6477170 3.55404
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000329 49.96982
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000074 30.86942
Pepe price
Bonk
Bonk (BONK)
$0.0000396 54.3987
Bonk price

Galaxy’s Novogratz predicts Bitcoin reaching $70k with ETF approval

galaxys-novogratz-predicts-bitcoin-reaching-70k-with-etf-approval
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News
Galaxy’s Novogratz predicts Bitcoin reaching $70k with ETF approval

Galaxy Digital founder Mike Novogratz believes the market will see a ‘pretty successful shift of psychology’ when the government allows spot Bitcoin ETFs.

Bitcoin (BTC) is poised to reach its old highs a year from now, should the U.S. Securities and Exchange Commission (SEC) give the go-ahead to spot Bitcoin exchange-traded funds (ETFs), predicts Galaxy Digital Holdings Ltd. founder Mike Novogratz.

In an interview with Bloomberg on Nov. 29, 2023, the founder and chief executive officer of Galaxy expressed his strong optimism about the cryptocurrency’s future as talks of spot Bitcoin ETFs heat up.

“Could we go to old highs by this time next year? Of course.”

Mike Novogratz

According to the Bitcoin bull, prices are set on the margin, suggesting that the largest cryptocurrency by market capitalization is backed by “new money.” Novogratz also added the market will see a “pretty successful shift of psychology when the government says you are allowed to buy Bitcoin.”

Bloomberg’s analysts forecast the SEC will approve a spot Bitcoin ETF by Jan. 10, 2024. However, SEC Chair Gary Gensler remains mainly silent on the ETFs talk. Moreover, analysts don’t rule out the possibility that Gensler might eventually reject all pending spot Bitcoin ETF applications at the eleventh hour, a move described as “amazingly sadistic” by Bloomberg ETF analysts.

Since Gensler’s appointment as SEC Char in 2021, the U.S. financial watchdog either delayed, denied, or pushed back all such applications, citing investor protection concerns as the primary reason. As of press time, the SEC has only given the green light to ETF applications for Bitcoin and Ethereum (ETH) futures products, maintaining that spot products lack the necessary safeguards to protect investors from market manipulation.

Bitcoin reached its all-time high in November 2021, hitting $69,146, according to data on the BitMEX crypto exchange.

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