Matrixport, the world’s leading, and Asia’s largest one-stop crypto financial services hub, has announced the official launch of its exclusive USD corporate account to provide institutional clients with a smoother and more secure OTC trading experience.
Matrixport sees Bitcoin growing as high as $160,000 in the coming year.
Insiders familiar with the proceedings indicate that the SEC may begin notifying issuers of approval starting Friday, paving the way for potential trading to commence as early as the following week.
The Matrixport founder believes that, in the long run, BTC will maintain its position as a store of value and a risk-hedging asset, surpassing gold.
According to sources familiar with the ongoing ETF proceedings, an approval could be announced on Friday, with trading beginning as early as next Monday.
Bitcoin and Ethereum have reactred with a price fall to the newly published Matrixport report on possible spot Bitcoin ETF approval.
Matrix on Target raises concerns about the potential market impact if the SEC rejects all Bitcoin ETF proposals by the January deadline.
QCP Capital believes that the Bitcoin ETF approval could be a sell-the-news event thereby pushing the Bitcoin price under $40,000, before resuming the next uptrend.
Matrixport revealed that although Bitcoin has climbed more than 150% this year, miners have done much more.
Despite the prevailing bullish sentiments, there are macro factors that could pose a threat to Bitcoin’s bull run.
According to Matrixport, Bitcoin would rise close to its current all-time high by April, and hit $125K by end of 2024.
Bitcoin exchange outflows, interest rate cuts, Bitcoin halving, ETF approval are among many factors that could trigger a mega bull run in 2024.
Bernstein analysts are not the only experts who believe Binance will remain the world’s leading crypto exchange despite the recent settlement with the US authorities.
As the Bitcoin market continues to surprise with its resilience and unexpected surges, investors and enthusiasts eagerly await regulatory developments.
ETH may now be useful for those looking to hold on to the crypto asset as a store of value.