Before starting anything, Coin Informer wishes you a very Happy New Year. May the lord bring much more happiness this year in your life. You know what? The period between Christmas and New Year is the time when media outlets hardly give you any deep news and recent updates. Most of them adopt every possible technique to garner a majority of audience viewership, whether it’s inviting Mariah Carey to perform ‘All I Want for Christmas Is You’ for the 1000th time or prime-time talk shows freely expressing whatever comes to mind for comedic effect. Thus, Coin Informer has compiled a detailed news article titled Crypto World’s New Year Special, where we’ve discussed top updates and crypto news that you might have missed recently.
Without further ado, let’s take a look at the top news amid this New Year celebration.
Bitcoin Surpassed $45K (First Time in 2 Years): Crypto World’s New Year Special
The 2024 New Year Celebration seems to bring an abundance of happiness among crypto enthusiasts. As of 5 a.m., Bitcoin has taken the highest jump and surpassed $45K for the first time in nearly two years. The last time this trend was witnessed was in April 2022, and since then, the leading crypto industry has been going through a rough time. But, thanks to the last few months of 2023, Bitcoin has gained confidence along with its price range.
(Bitcoin’s Price Index, Sources: CoinDesk)
If we talk about December 2023 only, Bitcoin has made a total jump of nearly 20%. But you know what? The partial credit behind the historical trending of Bitcoin’s price also goes to the SEC’s much-anticipated decision on the approval of ETF Bitcoin. As per the latest sources, the decision on the SEC’s approval can be expected in the second week of January.
ETH & Solana Showed Positive Trends Over the Weekend: Crypto World’s New Year Special
Besides Bitcoin, other major cryptocurrencies have also flourished. ETH showed tremendous growth over the New Year weekend, but as January 2 ended, the cryptocurrency took a complete U-turn as its price started falling. However, the best thing is that the percentage of dip is only around 1.5 (not that bad).
(Ethereum’s Price Index, Sources: CoinDesk)
If we talk about Solana, its trend was opposite to ETH’s, with the dip over the New Year week and growth after January 2, 2024. As of now, the trendy cryptocurrency is trading at $109.82.
(Solana’s Price Index, Sources: CoinDesk)
India Says ‘No’ to 9 Leading Offshore Crypto Exchanges, Including Huabi & Bitcoin: Crypto World’s New Year Special
On December 29, 2023 (Thursday), the India Financial Intelligence Unit announced something very shocking. With the debut of the Prevention of Money Laundering Act (PMLA), the Indian government issued compliance against nine offshore crypto exchanges, including Bitcoin, KuCoin, Huobi, Bittrex Bitfinex, Kraken, and more. Moreover, the Indian government has clarified that crypto businesses must register themselves with the FUI to function their services. It’ll be interesting to see how this act will change and impact India’s crypto landscape as its digital market has thrived in the last few years.
Not Expecting Full-Out Denial on Bitcoin ETF Approval – Balchunas: Crypto World’s New Year Special
The whole crypto world is waiting for the SEC’s decision on Bitcoin ETF, and renowned analysts like Balchunas and James Seyffart have something important to say about it. In a recent post on X, James Seyffart writes,
“A new Research note from me today. We still believe 90% chance by January 10 for spot Bitcoin approvals. But if it comes earlier, we are entering a window where a wave of approval orders for all the current applicants *COULD* occur.”
In addition, Eric Balchunas (Bloomberg’s ETF analyst) also said,
“While the chances are slim, a spot Bitcoin exchange-traded fund (ETF) being rejected this month will most likely be due to the Securities and Exchange Commission wanting “more time” rather than a flat-out rejection.”
According to the opinions of different analysts, it is pretty clear,
“The decision on spot Bitcoin approval can be expected by January 10. However, if the SEC remains silent on it, even on that date, it can be made clear that the commission needs more time to decide on its approval. How much time? This question you shouldn’t be asked.”
Stay Tuned!
+With this, we would like to wrap up this crypto world’s New Year Special news article. Coin Informer will meet you next time, very soon, with another detailed blog post covering the hottest news of the season. So, until then, enjoy your time with your loved ones.
