Bitcoin (BTC-USD) price predictions are a hot topic among crypto traders today after the U.S. Securities and Exchange Commission (SEC) Grayscale’s plan for a BTC spot exchange traded fund (ETF).
Grayscale was seeking to transform its Bitcoin Trust, GBTC, into an ETF for Bitcoin before the SEC rejected its application. According to the organization, Grayscale doesn’t have the protections for the ETF under its current proposal.
Now the company says it plans to sue the SEC for rejecting its Bitcoin ETF application. To this end, it’s filed a petition with the U.S. Court of Appeals for District of Columbia Circuit. The company argues that the SEC isn’t offering the same treatment to similar investment vehicles. It claims this is violates the Administrative Procedure Act and Securities Exchange Act of 1934, CNBC notes.
The latest news has further hurt the reputation of Bitcoin and that has some investors checking in on the latest price predictions for the crypto. Let’s get into that below!
Bitcoin Price Predictions
- DigitalCoinPrice starts off our list with an average price estimate of $28,001.24 per token in 2023.
- WalletInvestor is next as it holds a one-year price forecast of $37830.30 for BTC.
- CryptoNewZ closes out our Bitcoin price predictions with an average estimate of $32,000 for 2023.
All of those price predictions are looking good for Bitcoin considering it was trading for $19,011.28 this morning. It’s also worth highlighting that BTC is down 5.5% over the prior 24-hour period as of Thursday morning.
Investors seeking out more of the latest crypto news will want to stick around!
InvestorPlace offers up all of the most recent crypto news that traders need for Thursday! That includes an update on BTC amid a crash, as well as a couple of list of cryptos that traders will want to keep in mind. You can find all of that news at the following links!
More Crypto News for Thursday
- Is Bitcoin Dead? BTC Falls Below $20,000 Amid Crypto Crash.
- 3 Bargain Cryptos to Buy Before They Turn Around
- 7 Cryptos to Watch Closely as Investors Strategize Next Moves
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.