Guosen Securities (Hong Kong): Approval of Bitcoin Spot ETF

Jiten171

Golden Finance reported that Guosen Securities (Hong Kong) has issued a report stating that the approval of Bitcoin Spot ETF is significant for the cryptocurrency market and even the global financial market. This is expected to bring incremental funds to the virtual currency market. Meanwhile, in 2024, Bitcoin will initiate a new halving cycle. The Federal Reserve hinted at completing rate hikes in the December 2023 meeting, with a possibility of rate cuts in 2024. With various positive factors, the cryptocurrency market, including Bitcoin, is expected to perform well in 2024. However, as of the close of this Friday, most Bitcoin-related stocks have experienced declines, with BC Technology Group dropping by 25.36%, Meitu Inc. by 12.46%, and New Fire Technology Holdings by 3.77%.

Indra55

This capital is quite substantial.

Sona59

Virtual currencies frequently bring incremental funds nowadays.

Iti9

But is there enough capital entering?

Kabir903

Let's take a look at the market situation in Hong Kong.

Jafar224

This could lead to an upward trend now.