ChatGPT believes Bitcoin will hit $30k soon enough, but there’s a catch
The post ChatGPT believes Bitcoin will hit $30k soon enough, but there’s a catch appeared on BitcoinEthereumNews.com. Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. The U.S. Securities and Exchange Commission (SEC) chose to avoid engaging in another legal dispute with Grayscale Investments, a prominent digital asset management firm. Read Bitcoin’s [BTC] Price Prediction 2023-24 ETF analyst James Seyffart confirmed that discussions between Grayscale and the SEC will commence next week, with a new response anticipated by the regulator within the next two weeks. This development fueled anticipation of the potential impact on Bitcoin [BTC]. However, the immediate market response to the news was relatively muted. The king coin briefly touched $27K following the news, but it was exchanging hands at $26,906.7 at press time. Bitcoin earlier soared as high as $31.7K within a day of Ripple [XRP] securing a partial victory in its legal battle with the U.S. Securities and Exchange Commission [SEC] on 13 July. But it failed to sustain the price rally. The U.S. District Court of the Southern District of New York ruled in its judgement that the sale of Ripple’s XRP tokens on crypto exchanges and though programmatic sales did not constitute investment contracts; hence, it is not a security in this case. But the court also ruled that the institutional sale of XRP tokens violated federal securities laws. The crypto industry lapped up the judgement instantly, generating a price rally across tokens. But no coin could sustain the price rally for long. We should also note that in June, the SEC approved the first leveraged Bitcoin futures exchange-traded fund (ETF), namely the Volatility Shares 2x Bitcoin Strategy ETF (BITX). The SEC has also accepted spot BTC ETF proposals from major traditional finance (TradFi) firms for review, including BlackRock, Bitwise, VanEck, WisdomTree, Fidelity and Invesco. In August, London-based Jacobi Asset Management…
The post ChatGPT believes Bitcoin will hit $30k soon enough, but there’s a catch appeared on BitcoinEthereumNews.com.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. The U.S. Securities and Exchange Commission (SEC) chose to avoid engaging in another legal dispute with Grayscale Investments, a prominent digital asset management firm. Read Bitcoin’s [BTC] Price Prediction 2023-24 ETF analyst James Seyffart confirmed that discussions between Grayscale and the SEC will commence next week, with a new response anticipated by the regulator within the next two weeks. This development fueled anticipation of the potential impact on Bitcoin [BTC]. However, the immediate market response to the news was relatively muted. The king coin briefly touched $27K following the news, but it was exchanging hands at $26,906.7 at press time. Bitcoin earlier soared as high as $31.7K within a day of Ripple [XRP] securing a partial victory in its legal battle with the U.S. Securities and Exchange Commission [SEC] on 13 July. But it failed to sustain the price rally. The U.S. District Court of the Southern District of New York ruled in its judgement that the sale of Ripple’s XRP tokens on crypto exchanges and though programmatic sales did not constitute investment contracts; hence, it is not a security in this case. But the court also ruled that the institutional sale of XRP tokens violated federal securities laws. The crypto industry lapped up the judgement instantly, generating a price rally across tokens. But no coin could sustain the price rally for long. We should also note that in June, the SEC approved the first leveraged Bitcoin futures exchange-traded fund (ETF), namely the Volatility Shares 2x Bitcoin Strategy ETF (BITX). The SEC has also accepted spot BTC ETF proposals from major traditional finance (TradFi) firms for review, including BlackRock, Bitwise, VanEck, WisdomTree, Fidelity and Invesco. In August, London-based Jacobi Asset Management…
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