- Market expert Bob Loukas has stated that the spot Bitcoin ETF is a 99% done deal.
- The news has returned excitement to the crypto market, forcing the BTC price to increase by 5%.
- Another altcoin that has benefited from the rally is Memem Moguls, which is set for a massive price surge.
Bitcoin (BTC) has reignited interest in the cryptocurrency industry. Trader and investor Bob Loukas believes the Securities and Exchange Commission (SEC) will approve a spot Bitcoin ETF 99.9% of the time.
In response, the Bitcoin price has risen by more than 5%, with bullish forecasts emerging. The euphoria has spread to Meme Moguls (MGLS), causing the altcoin to rise. How much can MGLS rise if investors anticipate a bull market in 2024?
Spot Bitcoin ETF is a 99.9% Done Deal
When the SEC delayed its decision to approve an ETF spot, the enthusiasm of the crypto community dropped. However, the excitement is bigger than ever following comments from a market expert, Bob Loukas. Loukas stated that the spot ETF application from BlackRock is 99.9% confirmed.
His comments came just after BlackRock made changes to the policy around redemptions for its spot Bitcoin (BTC). The frequent back-and-forth between the SEC and BlackRock, according to Loukas, suggests the spot ETF is a done thing.
The comments immediately reignited interest in the bitcoin sector. Shortly after the news, the price of Bitcoin surged by more than 5%, reclaiming the $43,000 mark. Based on its current trajectory, BTC might reach $50,000 before the end of 2023, making it a top crypto to buy now.
Now that a spot ETF is almost inevitable, the upward trend is expected to continue beyond 2024. Meme Moguls is another altcoin that has benefited substantially from the news.
Meme Moguls (MGLS) Set for New Highs in 2024
The excitement in cryptocurrency has spread across the market, with Meme Moguls (MGLS) being one of the top beneficiaries. The price of the altcoin has jumped to $0.0023, but analysts have said that it has an even higher ceiling. Why are they bullish about this project?
Meme Moguls is a new ICO project that has set out to transform the memecoin sector. More than a meme coin, Meme Moguls is an ecosystem of meme enthusiasts built to teach meme enthusiasts now to invest and build wealth.
The wealth leaderboard is a popular component of the ecosystem. The platform’s top 20 traders get a share of daily revenues in cash rewards, fostering healthy competition. The top players from various events and tournaments are displayed on this scoreboard.
Meme Moguls is concerned with more than just competition. It also launches “Mogul Land,” a virtual world where users can explore various aspects of the application. In this virtual arena, users can mine tokens, stake tokens, and interact with others.
The new ICO’s many earning choices make it an intriguing investment option for anyone wishing to have fun while still making money. Analysts predict a 50x price increase for MGLS based on the project’s recent growth pace. This makes MGLS a top crypto to buy ahead of 2024’s predicted bull market.
From the comments of experts, a spot ETF could be approved, setting the pace for a Bitcoin rally. This potential rally has also set up Meme Moguls for a bigger rally heading into 2024. This massive potential rally has attracted a growing number of investors to Meme Moguls.
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