Altcoins Surge as Market Experts Declare Bitcoin ETF Approval 'Certain at 99.9%' (2024)

Beginning the week with uncertainty, BTC/USD quickly gained momentum, with the candle on Dec. 18 closing more than 5% higher than the day’s low. Subsequently, it was reported that BlackRock, one of the contenders for launching the first U.S. spot Bitcoin ETF, had modified its redemption policy to incorporate BTC as a redemption option.

According to the most recent version of BlackRock’s S1 filing with the U.S. Securities and Exchange Commission (SEC), “Redeeming a portion or all of a Shareholder’s Shares for the actual bitcoin represented by the redeemed Shares will typically not result in a taxable event for the Shareholder.”

Furthermore, the document introduces additional regulations concerning the exchange of share baskets for cash instead of BTC, with the latter awaiting regulatory green light.

The SEC is expected to commence finalizing decisions on spot ETFs by early January 2024, making the next month crucial for Bitcoin investors. As reported by various news outlets, several BTC price forecasts depend on the successful approval of the ETF, which now appears highly probable after years of setbacks and rejections.

Reacting to the latest updates on X (previously known as Twitter), trader and investor Bob Loukas stated, “The degree of SEC involvement and the ongoing amendments on the bitcoin ETF indicate that this is virtually a done deal at 99.9%.”

Investors are getting excited about Bitcoin ETFs being approved. They are also investing in new crypto projects for quick profits, as these projects usually grow well at the beginning. Pandoshi, a new cryptocurrency currently in its presale phase, is a prime example.

Pandoshi (PAMBO)

A recently introduced cryptocurrency is gaining attention as a strong contender for considerable short-term profits. Boasting significant growth potential, its limited liquidity leads to high volatility, setting the stage for rapid increases in value, potentially starting right from its initial days or even hours. After evaluating multiple emerging projects, Pandoshi emerges as a leading candidate for explosive growth.

At first glance, Pandoshi might seem like just another meme coin, but it is far more substantial. It is actually an entirely self-sustaining decentralized ecosystem. The project’s whitepaper showcases a strong dedication to technical expertise and professionalism. Core to Pandoshi’s philosophy are principles of decentralization, protecting financial privacy, and community-led governance and development.

The native token of this ecosystem, PAMBO, which was introduced on the Ethereum blockchain, plays a crucial role in the platform’s functionality. PAMBO is designed as a deflationary token, incorporating a purchase-and-destroy mechanism. This approach involves purchasing tokens at current market rates and then permanently retiring them from circulation, thus enhancing their scarcity.

Every component of the project adds to the increase of PAMBO’s worth. For instance, the project’s trading platform imposes a transaction fee on crypto exchanges carried out within it. These fees are then used to buy PAMBO tokens at their market rate. After acquisition, these tokens are permanently taken out of circulation. This strategy not only reduces the total number of tokens but also ensures that these particular tokens cannot be sold again in the market.

Pandoshi is presently in its Initial Coin Offering’s (ICO) third stage, with each token valued at $0.006. Given the increasing excitement surrounding the project, it’s poised to move into the fourth phase soon. In this next stage, the token price is expected to go up to $0.008.

The ICO of Pandoshi is divided into five progressive phases, each featuring a gradual rise in the token’s sale price. This phased approach to the ICO provides a chance to buy the project’s token at a rate lower than what is projected for its market debut, making it an appealing proposition for early investors. Therefore, Pandoshi (PAMBO) represents a potential major player in the crypto market, an opportunity that investors may not want to miss.

The Pandoshi team has also recently announced that they are advancing more quickly than planned in their original development timeline, especially in the creation of their non-custodial wallet, an integral part of their ecosystem. They are about to launch a beta version of this wallet, which will be interoperable with all EVM (Ethereum Virtual Machine) networks. The forthcoming wallet is set to be available as both a web browser extension and a mobile application, catering to both iOS and Android platforms.

Website: https://pandoshi.com/
Whitepaper: https://docs.pandoshi.com/

Conclusion

To sum up, the current upward movement in Bitcoin’s value, along with the active proposals for Bitcoin ETFs, indicate a promising time for the cryptocurrency sector. This phase offers an excellent window for investing in emerging projects that show great potential for expansion.

Considering the information at hand, there’s a strong anticipation of a Bitcoin ETF being approved by January. If this happens, the market is expected to surge to unprecedented levels. Making an investment in a project like Pandoshi during this positive market phase could lead to exceptionally high returns, potentially up to 1000 times the original investment. This presents an ideal opportunity for making smart investment decisions and not missing out on projects that could make you rich.

Comments