The cryptocurrency sector is trading in green on its main assets this Tuesday, with Bitcoin surpassing the 28,000 point area.
CATALYSTS
Bitcin today maintains the increases recorded since yesterday after rumors about the approval of a bitcoin ETF on spot prices. "This news appeared premature, but it illustrates the sensitivity of the asset class to any good news and should encourage investors with the long list of possible catalysts ahead," says Laidler.
"From the US SEC's deadline to definitively approve the bitcoin spot ETF in January 2024 to the 'halving' of mined block rewards expected in March, passing due to new global banking and US corporate accounting regulations that make it easier to own cryptocurrencies. There is also the possibility that we will see the first central bank declare and hold bitcoins in its reserves," adds this expert.
"Bitcoin is by far the smallest, youngest and most minority of all asset classes, and is disproportionately sensitive to any signs of development in its market. It has remained at the top of the gains this year of its asset class, but volumes, volatility and correlations have plummeted, even as global adoption continues and an uneven regulatory framework develops
