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Peter Davis

An writer at FOMOdrive

  • Jan 01, 2024
  • 3 min read

The SEC may announce a decision on Bitcoin ETF as early as January 2-3

In 2023, Bitcoin has experienced an incredible increase of 158%!

In 2023, Michael Saylor proclaimed Bitcoin to be the victor.

Financial giants on Wall Street have declared their readiness to introduce spot Bitcoin Exchange Traded Funds (ETFs).

A large-scale hard fork of the Cardano network is set to be conducted by the Cardano team.

A Solana trader was able to increase their initial investment of $60 to a staggering $2 million by trading a single meme token.

In December of 2023, Bitcoin saw a 12.7% increase in value, bringing it up to $42,500. This marked a 158% growth for the entire year, making it one of the most successful investments of the year. Bitcoin has been steadily increasing in value for the past nine months.

Michael Saylor, the founder of MicroStrategy, has predicted that the first cryptocurrency will be a "winner of 2023". To support his statement, he shared an image comparing the returns of Bitcoin to those of the Nasdaq and S&P 500 indexes, stocks, gold and silver.

Crypto asset companies Valkyrie and Bitwise, as well as Wall Street financial giants BlackRock, Fidelity and Invesco, have declared their intention to introduce spot Bitcoin ETFs.

Reuters, citing insiders, has reported that the US Securities and Exchange Commission (SEC) may announce its decision on the ETF earlier than expected, with the announcement potentially coming as early as January 2 or January. This is in contrast to the previously expected timeline of the 8th to the 10th.

Nine major crypto exchanges in India have had their websites blocked by the authorities. The regulator has accused these trading platforms of operating without registration and breaching anti-money laundering and anti-terrorist financing regulations.

In the case against Terraform Labs platform, the court of the Southern District of New York ruled in favor of the SEC, deeming the LUNA and MIR crypto assets to be securities.

The Supreme Prosecutor's Office of China has cautioned that the utilization of stablecoins, such as USDT, as a medium of exchange for foreign currencies is unlawful.

In the upcoming year, the developers of the Cardano blockchain have declared their plan to carry out a major hard fork of the network. This will bring an upgrade to the Chang network, which will enhance the decentralized governance of the project and broaden the features of the Yoroi crypto wallet.

Immunefi reported that in 2023, the cryptocurrency industry suffered a loss of $1.8 billion due to hacker attacks and fraudulent activities.

An unidentified trader was able to make $2 million in just 22 days by investing 1 SOL (~$62 at the time) in the meme cryptocurrency Silly Dragon (SILLY).

January is typically a strong month for Bitcoin (BTC). Over the past 13 years, BTC has ended the month with growth 7 times. The average increase over the past 12 years was 21.3%, while the average decrease was 17%. If BTC follows this trend, it could end January at around $51,600 or $35,300, depending on the outcome.

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