Bitcoins First Ever ETF Might Be Right Around The Corner
It seems like its been years since there was talks of ETFs and mainstream money to be poured into bitcoin. Well finally today is the day where this looks like it might be happening!
The SEC has yet to approve one ETF based on worries of bitcoin being hacked and investors losing their money. However CBOE's has insured the SEC that their trades will be covered and protected. This would seriously open bitcoin and only bitcoin to massive gains.
This very well could be the first approved ETF and the first Bull run of 2018 which is likely to send bitcoin to $25,000 by years end and hold there. It also will allow for other ETFs to open up as a blueprint that is approved will now be laid out that others can follow. While it will take time to get them approved the general idea is continued growth into 2020 which McAfee predicts bitcoin hitting $500,000 per by 2020 which is less then a year and a half away.
Its also good to see that bitcoins devs have continued work on the project to help for such things to happen. When you look back at the last 6 months a lot has happened in the bitcoin blockchain and space and can easily be forgotten. Lightning network has launched, batched transactions and continued work to strengthen the blockchain have gone into play.
- Top image pulled from https://www.crypto-economy.net/en/bitcoin-etf-possible-futures-market-says-cboes-ceo/
Why would ETF send it to that level?
ETF means larger cap investors can now invest into bitcoin. Here in the states if you have a certain amount of money you are actually limited to what you can invest in for security reasons. ETFs are approved areas where these large investors can invest their money. I believe $250,000 + is the level
Whales.
Bitcoin ETF has the potential to put a floor in price as the demand generated from the launch will exceed mining bitcoin creation and make short sellers think twice about their positions. The market is already foreshadowing this as Bitcoin dominance has exceeded 45% recently which shows that altcoins are still looking for a similar catalyst for their own bounce.
Spot on info!! I hear a lot of people saying BTC bottom might not be in, however if the ETF ruling is favorable, the money will come rushing in and we'll never see BTC this low again. BTC dominance will be a minimum of 50%, most likely more.
Good job men @bitcoinflood
Keeping my fingers crossed. This could be the turning point. Thanks for sharing.
Keeping my fingers
Crossed. This could be the turning
Point. Thanks for sharing.
- dyslexicwriter
I'm a bot. I detect haiku.
The whole world is waiting for ETF. SEC don't delay it furthermore. Fingers crossed for sure now. Hope for best.
You can already buy a trust that follows the price of bitcoin... See BTGC...
I think it will be good at first, but then the market will be totally manipulated by these investors
that approval will surely show us moon!