Cryptocurrency analysis company Matrixport surprisingly published two opposing analyzes on the same day. One analysis predicted that Bitcoin spot ETFs would be approved soon and prices would rise to the $50,000 level. The other suggested that the SEC would reject Bitcoin ETFs.
Bitcoin experienced a significant decline today due to the report suggesting that ETFs will be rejected and still no news from ETFs. BTC, which has lost 7% of its value in the last 24 hours, is trading at $ 42,100 at the time of writing this article.
Bloomberg analysts Eric Balchunas and James Seyffart, who are confident that Bitcoin ETFs will almost certainly be approved, made evaluations on the subject.
Eric Balchunas expressed confusion about the “rejection” news, saying, “People are tagging me like crazy regarding this 'rejection' news. We have heard nothing but confirmation.” Questioning the source of the rejection report, Balchunas discussed whether the report was based on speculation or concrete information.
Balchunas noted that the analyst behind the report actually appears to be a Bitcoin bull, and recently tweeted that “company executives” said confirmation was likely. “I'm not sure why he backed out,” Balchunas added.
Balchunas continued his words as follows:
“To say at this point that the SEC has rejected ETFs is not just to oppose it like James Seyffart and I did in the early days, but you are also saying that a lot of mainstream news reporters with multiple sources who are involved in this are wrong. “I'm not saying it's impossible (though we're still 'only' at 90%), but it does invalidate a lot of good intelligence.”
James Seyffart sarcastically criticized the contradictory reports. “Now that they've announced that the SEC will both approve and disapprove ETFs, they can't be wrong anymore. Smart.” he joked.
*This is not investment advice.
