The cryptocurrency market has been on a rollercoaster ride lately, with both Bitcoin (BTC) and Ethereum (ETH) experiencing significant price fluctuations.
Recently, a prominent former US government official added another layer of intrigue with a bold prediction about Bitcoin’s future post-US elections. Let’s delve deeper into this prediction and also explore what’s ahead for the Ethereum (ETH) market.
US Presidential Elections Could Propel Bitcoin to New Heights, Predicts Former Official
A former US government official, wishing to remain anonymous, has sent shockwaves through the crypto community with his bold prediction. He stated that the upcoming US Presidential elections could bring new all-time highs (ATHs) for Bitcoin (BTC). Specifically, he mentioned that if President Joe Biden wins the elections in November, it could act as a catalyst for Bitcoin (BTC) to reach new ATHs.
Echoing this sentiment, he predicted that Bitcoin (BTC) could cross $74,000 if Joe Biden secures the presidency. On the flip side, Donald Trump has recently affirmed his support for Bitcoin (BTC) and other cryptocurrencies, promising to end what he describes as Biden’s war on Bitcoin (BTC) and crypto in general if he wins the elections.
However, skepticism remains regarding Trump’s intentions, given his previous stance against Bitcoin (BTC) and other cryptocurrencies during his presidency. In contrast, the anonymous former official highlighted that the Biden administration is actually open to Bitcoin (BTC) and other cryptos, despite appearances. He emphasized that things would improve for Bitcoin (BTC) and the crypto industry if Biden emerged victorious in the November elections.
Ethereum’s Potential Spot ETF Approval: A Bullish Signal for ETH’s Price
Gary Gensler, chair of the SEC, has frequently flip-flopped regarding which cryptocurrencies are considered securities. While the Howey test provides specific criteria for identifying commodities such as bonds and shares, the US government’s stance remains ambiguous. The SEC claimed that although Ethereum passed the Howey test, it was still a security. Conversely, the CFTC asserted that Ethereum was not a security.
Why does this matter? The laws and regulations surrounding the sale and trading of securities are much stricter. The latest information indicates that not only is Ethereum not classified as a security, but also that Ethereum Spot ETFs could be approved as soon as July 4th. Gensler mentioned that the process is ‘going smoothly.’
With asset managers like Blackrock and Franklin Templeton awaiting approval for their Ethereum Spot ETFs, this could be a very bullish signal for ETH’s price. Ethereum may follow a similar trajectory as Bitcoin, where the bullish news has not yet been factored into the ETH price, potentially leading to a massive rally as retail and institutional money flows in via the Ethereum ETFs.
Given the recent bearish news and significant government sales of seized Bitcoin, Ethereum’s Spot ETFs could hit the market at the perfect moment for ETH’s price growth.
DTX Exchange Presale Heats Up: A Gateway to Opportunity in the L1 Landscape
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The DTX Exchange presale has been a resounding success, with stage 2 exceeding expectations by raising over $730,000. This momentum is expected to continue, potentially pushing the token price from its current $0.04 to $0.06 in the next stage. Investors worldwide are recognizing the potential of DTX Exchange, attracted by its global reach, robust security features, and the possibility of 100x gains. Don’t miss out on this exciting opportunity to be a part of the DTX Exchange revolution.
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