Following its explosive start this year, surging above the $45,000 price point, research from the crypto financial services platform Matrixport warns that Bitcoin, the world's largest crypto asset by market capitalization, could drop to as low as $36,000 if the U.S. Securities and Exchange Commission (SEC) rejects the spot Bitcoin exchange-traded fund (ETF) applications.
Titled "Why the SEC will REJECT Bitcoin Spot ETFs again," Matrixport's latest research, while acknowledging its prior forecast of Bitcoin rallying toward $50,000 by the end of January 2024, predicts that the SEC will "reject all proposals in January."
