Bitcoin ETFS Could Come As SOON AS 2019 - What This CRYPTO EXPERT KNOWS Will BLOW YOUR MIND BTC NEWS 2018

in #cryptocurrency6 years ago

Bitcoin ETFS Could Come As SOON AS 2019 - What This CRYPTO EXPERT KNOWS Will BLOW YOUR MIND BTC NEWS 2018

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Also Read : Bitcoin IS A SCAM?” - Wolf Of WALL STREET And CRIMINAL Trashes BTC For ALL THE WRONG REASONS BTC NEWS 2018

Welcome back to another Article here today at the tech cash. Also all if you are having a good one. In today's Article, I'll be discussing the opinion of a cryptocurrency expert and why he believes that Crypto etfs could be right around the corner. Now the expert is Brian Kelly. I want to go ahead and say that right off the bat so I don't forget to mention it later on, but with that being said, before we go ahead and dive right into the content or to write all of you, drop all icons for you if you like it, Follow and share for more, and let's go ahead and jump right in. So despite the US Securities and Exchange Commission or sec, recently rejecting a total of nine separate proposals for bitcoin exchange traded funds last week, the bitcoin price has managed to jump again to over the psychological $7,000 mark.

Adding $200 at around 1:00 AM than climbing further, the press jumped, falls, similar moves from bitcoin and the wider cryptocurrency market last week, which was at that time put down to short positions closing on many exchanges, causing a so called short squeeze. As often happens when the bitcoin price jumps or falls, the wider cryptocurrency market moves with it. Bitcoin short positions were traders. Bet that a particular asset will fall in. Value had been climbing since bitcoins. Massive bull run last year, however, data out last week, so just bitcoin bears in the futures market could be finally easing off according to the latest commitment of traders report released by the US commodity futures trading commission or CFTC for the week ending August 20. First, the report shows that the net position on bitcoin futures declined by 1,266 different positions. Short positions fell by 210 contracts to 3,426 as compared with the previous week with long positions up by 56 contracts at 2,160 contracts.

So bitcoin has been hovering around these $7,000 mark since mid May, after a sell off at the beginning of the year, dragging bitcoin down some 70 percent since it's all time highs of almost 20 grand in December of last year. Meanwhile, bitcoin bowls had been working overtime to try to chase away the bears from the market repeatedly talking up bitcoin and the wider crypto market. Bitcoin and crypto analyst Brian Kelly speaking to CNBC last week, cited statistics from Cmi Exchange, which suggested that the bitcoin futures market overall is signaling both heightened demand and greater maturity. Kelly also said he expected the sec to approve a bitcoin etf by February of Twenty 19, which is really pretty darn close if you think about it. That's honestly just around the corner, something that would make it easier for investors to buy into Bitcoin, potentially adding a swath of fresh capital and we can pretty much guarantee that if investors were able to invest with their coin etfs, more capital would be coming to the market.

It's just a common side effect. So many are still expecting the sec to approve a bitcoin etf as soon as next month with investors pinning their hopes on a request filed through the Chicago Board of exchange or CBO by New York based Vanek and blockchain platform, solid X. However, there's been a warning over bitcoin and cryptocurrency investments from the former penny stock broker Jordan Belfort, who found fame as the wolf of Wall Street and I already covered that in a very recent Article. Bill Ford who spent nearly two years in prison for scamming investors in the late 19 nineties. Told CNBC I was a scammer. But anyway, like I said, I did recently cover that in a Article. So if you are interested, go ahead and check that out. I would encourage all of you to the opinions expressed there in our little controversial. The opinions coming from Balfour to anyway. I don't necessarily agree what he had to say and really the article that I covered kind of put a spin on what he said anyway, so the whole thing is pretty interesting and I would definitely check it out. But anyway. Folks, what do you think? Do you think Brian Kelly is right? Do you think that etfs are coming sooner than all of us expect, or do you think that they're going to take longer? Overall? Let me know down in the comment section below and as always, I want to thank all of you for watching. Drop this Article, Upvote if you did like it, Follow and share for more and we'll see all of you in the next one. Have a good one, folks at Adios.

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