NOW THE FUTURE OF CRYPTO IS UP TO THE ETF MESS 🤢

in crypto-news •  2 months ago

How Bitcoin ETF, Bakkt, Citigroup Custody Will Determine The Future Price of Cryptocurrency.

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Although the future for cryptocurrencies looks bleak, there are multiple upcoming events and new revelations that could lead to tremendous price volatility, including the approval or denial of the upcoming CBoE/VanEck/SolidX Bitcoin ETF, the approval of the Bakkt exchange by the US CFTC, and the rumored project by Citigroup to develop a custodial solution that would negate the need for a Bitcoin ETF.

If approved

If the SEC approves this particular ETF, the markets will likely rally on the hope that Wall Street dives into the markets, and Bitcoin will likely lead this surge, followed by alt-coins. The approval will renew market sentiment and could bring back investors who had been soured by the persisting bear market.

If Denied.

If the SEC denies the application, or delays it until later this year, Bitcoin will likely crash, potentially marking new yearly lows while dragging alt-coins down with it. The crash will likely stem from an overwhelmingly negative market sentiment and a rush of day traders trying to short Bitcoin

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Hello friend melip..What is Bitcoin...?

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You blow on two 6-sided dice, and throw:

First die lands...
You rolled a 5.

Second die lands...
You rolled a 4.

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Looks like a roll of the dice to me... haha

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I don’t get it 😌

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I think whether ETF will be approved is 50/50. A coin toss. A roll of the dice. I couldn't find a simple coin flip bot :)

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Haha, Thaaaa, got it!

Mi amiga como estas, todo esta en total revolución con todo esto, espero que sea aprobado

Esperemos entonces que sea aprobado está nueva aplicaión @melip

It's crazy how every little or large movement in crypto prices now seem to hang on the whims of every regulator. Every time a regulator such as SEC or PBOC even hints at a ban or some negative action, the whole crypto market just loses it's nerve and dumps like crazy.

This is not the same crypto world that I first learned about and bought into. Bitcoin shouldn't care about the SEC or any other regulator. Crypto is meant to be a path to freedom from central regulation and control and more about being in control and each person being self-sovereign. I fear most market participants nowadays are not in it for the long run, don't appreciate the tech, and are only in it for short term.

I hope that the market can regain its former resilience and once again be able to shrug off regulatory/bankster FUD like water off a duck's back.

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I love the way you analyze the crypto situation.

Etf's are too much hyped up hahahah
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