DonAlt, which attracted attention with its accurate prediction of the cryptocurrency rally that took place at the beginning of this year, Bitcoin He made an interesting comment regarding ETF approval. The trader discussed what the approval could bring for BTC.
Expected spot according to DonAlt Bitcoin ETFis an important development that will increase volatility in the market. Even though the price rises at the beginning of this volatility, it may record sharp corrections in the following days. Trader explains this situation with the theory of “buy the rumor, sell the news”.
According to DonAlt, with the ETF announcement, BTC price may jump to the range of $ 45,000 to $ 48,000. However, with increased volatility, a possible correction may trigger harsh corrections of up to 30%. However, after this, there will be a possibility that things will pick up again.
While DonAlt expects a deep correction after the US Securities and Exchange Commission (SEC) gave the green light to spot BTC ETF applications, he thinks the companies behind the investment vehicle will strengthen the next Bitcoin leg.
This is a strong argument that the BTC price may rise on a stable basis after the volatility that is expected to occur in the short term.
As Koinfinans.com reported, in November, Bloomberg analyst James Seyffart announced that more than one spot ETF could be approved in January.