Intended interest rate hikes have negatively affected Bitcoin (BTC) and the general cryptocurrency market. Consequently, top altcoins that mirror Bitcoin (BTC) plunged. Analysts say it is the longest BTC bear market and predict a Bitcoin drop before it starts rising.
On the other hand, VC Spectra (SPCT) is exciting crypto investors with its rate appreciation and promised ROI in its presale stage. Investors buying in the current presale stage expect a 220% return when it ends, making it the best crypto to invest in now.
Bitcoin (BTC) Drops As SEC Delays ETF Approval
When the Fed announced interest rate hikes on August 16, Bitcoin (BTC) plunged 1.6% from $29,169 to $28,699 on August 17. It continued falling as experts predicted a dull Bitcoin future.
On August 29, a federal appeals court ruled in favor of Grayscale against the SEC on its arbitrary decision to deny approval for a Bitcoin (BTC) ETF. Consequently, BTC gained 6.2% as the price moved from $26,102 to $27,726 on August 30.
However, a delay in approving other Bitcoin ETF applications caused a 6% Bitcoin drop to $26,040 on September 1. Moreover, the BTC market capitalization has fallen 6.4% in the last three days as investors slow down on accumulation.
Seven large asset management companies and institutional investors are angling for Bitcoin ETFs and are only awaiting approval from the SEC. After the current delay, they will have to wait 45 days before the SEC can make another decision.
Market experts remain bearish and expect a Bitcoin drop to $24,000, a critical support level before it starts to rise.
To conclude, Bitcoin (BTC) investors should brace for the price drop or invest in VC Spectra (SPCT) for significant gain.
VC Spectra (SPCT) Surges 127.27% Moving To Third Presale Stage
VC Spectra (SPCT) is a decentralized hedge fund leveraging AI and an experienced team to invest in budding blockchain and tech ventures.
Moreover, VC Spectra (SPCT) offers a BRC-20 standard token that allows seamless exchange, trading, and asset management on the platform. VC Spectra (SPCT) holders earn dividends during the public presale and profit sharing from the fund’s profit.
VC Spectra (SPCT) is in its third presale stage, with tokens available for purchase at $0.025, representing a 212.5%gain from the starting $0.008 and 127.27% for investors who bought at $0.011 in the second stage.
Additionally, VC Spectra’s fourth presale stage promises a 32% gain as its price is predicted to reach $0.033.
At the final presale stage, VC Spectra (SPCT) will cost $0.08 when listing on crypto exchanges. Get in on one of the best DeFi projects today to earn a 220% return when the presale stage is over.
Find out more about the VC Spectra presale here:
Buy presale: https://invest.vcspectra.io/login
Website: https://vcspectra.io
Telegram: https://t.me/VCSpectra
Twitter: https://twitter.com/spectravcfund
