The crypto market took a downturn following the SEC decision on Bitcoin ETFs in January. While the market initially rode the excitement wave in anticipation of approval, the Bitcoin ETF market effects post-launch were a decline, with the price of BTC dipping as low as $38,000. It has now recovered slightly but remains volatile. This post will analyze Bitcoin’s decline after ETF approvals, explaining the factors behind it.
Meanwhile, Polkadot (DOT) and InQubeta (QUBE) have emerged as altcoins to watch. According to analysts, these top altcoins are primed for significant growth, making them the best cryptos to buy now.
InQubeta (QUBE): Tipped for Success
InQubeta (QUBE) is one of the most promising new ICOs currently. For starters, its presale is selling out pretty fast. To date, a whopping $8.6 million has been raised in its ongoing presale, with sights set on the $10 million fundraising milestone next.
In the seventh stage of the ICO, it has been hailed as the best new crypto to invest in. Currently, the price of a token costs only $0.0224, and according to experts, it will skyrocket. It has been tipped to rally by 6,000% after its launch by popular forecasts, positioning it as a compelling investment.
In addition to the potential gains—mouthwatering—that come with holding the crypto, another appeal is its innovative concept. It stands at the intersection of crypto and blockchain, making it a very bullish narrative. Its vision revolves around reshaping the fast-rising AI market by employing a fractional investment model and allowing tech startups to raise funds through cryptocurrency.
Bitcoin (BTC): Price Downturn Post-ETF
After years of anticipation and optimism, heaven finally smiled on Bitcoin (BTC), with the US SEC approving the first spot Bitcoin ETF. The decade-long journey started in 2013, and on January 10, 2024, investing in BTC ETFs in the US eventually became a reality. This marked a significant milestone in crypto’s journey.
Prior to the approval of the 11 spot Bitcoin ETFs by the SEC, Bitcoin was experiencing a joy ride. On the day of the market’s launch—January 11—the price skyrocketed, blasting through $48,000. However, after that, it was downhill for crypto’s poster boy.
It was a “sell the news” scenario as investors sold their bags to accumulate profits. In addition, profit-taking among early GBTC (Grayscale Bitcoin Trust) investors further resulted in cascading selling, adding to the bearish pressure.
However, selling pressure appears to have dwindled. With momentum on the rise, BTC is one of the best cryptos to invest in.
Polkadot (DOT): Primed for Remarkable Growth
Polkadot (DOT) is an open-source multichain protocol. Simply put, it connects and secures a network of specialized blockchains, thereby facilitating the cross-chain transfer of data or assets. While this sounds simple, Polkadot has been able to solve one of the most critical challenges within the blockchain space: interoperability.
The rising adoption of its solution makes it primed for success. As one of the most fundamentally strong altcoins, it will most likely always be in demand, which makes it a good crypto to buy.
According to analysts, it will soar past $10 in the coming months, positioning it as a bullish play not to miss out on. To ride its anticipated wave, simply grab a bag of DOT and HODL.
Conclusion
The downturn in the price of Bitcoin post-ETF was because of investors “selling the news” and the massive outflow in GBTC. Meanwhile, Polkadot and InQubeta are primed for significant growth. If you wish to become an early InQubeta holder, click the link below.
