Bullish - SEC Review Bitcoin ETF and what it means to the Bitcoin Price ?
Okay, SEC is considering the Bitcoin ETF Proposals again and lets see what's the positive side of it if it gets approved.
Personally, I feel this is the start of Bitcoin bull market and the sentiment is starting to change positive to Bitcoin. Who knows, even we may get a news from China to open bitcoin trading soon. Just a hope
- So the current challenge with most of the people who wants to buy cryptocurrentcies is
Can't get the funds into cryptocurrency markets so easily
Keeping them safe in a hardware wallet or in a personal wallet
Fear of exchanges shutting down/ getting hacked. - If ETF gets approved,
Any one can invest in bitcoin virtually without owning it literally and in a simple/ traditional way
They dont need to bother about getting hacked, losing their private keys, exchanges shutting down
You can virtually own it - Imagine, its a door for Wall street money coming into Cryptocurrency and that money is really really huge
- There are less than 15 million cryptocurrency investors globally and if we get ETF, it will open doors to the remaining poeple and it's very very bullish for cryptocurrencies. - HODL your bitcoins, its because there are 21 million total bitcoins, only 11 million is avialable for purchase due to lost bitcoins and in future everyone will want to hold a portion of it, also its just technology guys, it can be upgraded to any standards and as Twitter CEO Dorsey said, it could one day become global currency for transactions too .
- There are people who has money but does not know how to buy a bitcoin and ETF will open doors to it
- One of the biggest challenge will get resolved, if bitcoin ETF is approved and that is investing into bitcoin so easily with one click.
Its just my perception of what I think about Bitcoin ETF, let me know what you think.