SEC delayed 7 BTC spot ETF applications including BlackRock, Fidelity, etc.
The U.S. SEC(Securities and Exchange Commission) delayed 7 BTC spot ETF applications including BlackRock, Fidelity, etc. After the SEC announced it, unfortunately, the Bitcoin(BTC) price collapsed. Now, the next decision of the SEC for approving BTC spot ETFs is scheduled to 16~19 Oct 2023. It's a irritating and boring moment for crypto investors.
BTC price has been moving sideways during the last 3 months. Impatient crypto investors are exhausted of this sitiation. Honestly, I'm also exhausted and annoyed somewhat.
I hope to see Hong Kong 🇭🇰 regulation authority is doing something more such as approving regulated crypto exchanges in Hong Kong as soon as possible. The more Chinese individual investors start trading cryptos and stack them, the more U.S. citizens and institutions will make a voice for approving BTC spot ETFs. Because, U.S. crypto industry might lose the initiative.
There are numerous of excess saving in China. It can cause the inflation. So, I think the Chinese government opens the crypto market in order to prevent the inflation. Because, assets such as stocks, real estates, cryptos and NFTs could be a container for money.
Hey @happycapital! 😊
I couldn't agree more with your insights on the recent SEC decision. It's indeed a roller-coaster ride for all crypto enthusiasts, especially when we're eagerly waiting for positive regulatory changes. 🎢
Your point about the Hong Kong 🇭🇰 regulatory authority got me thinking. I remember a conversation I had with a friend from Hong Kong about the potential of the crypto market there. It's fascinating to think about the ripple effect it could have on the global crypto scene. 🌍
The stagnation in Bitcoin's price over the last few months has been a test of patience for many, myself included. But, as they say, after the rain comes the rainbow. 🌈 I'm hopeful that with more countries opening up to the idea of crypto, we'll see a brighter future ahead.
And oh, the potential inflation in China and its impact on the crypto market is an interesting perspective! It reminds me of a seminar I attended where they discussed how assets like cryptos could act as a hedge against inflation. 📈
Thanks for sharing your thoughts and keeping the community informed. Let's keep our fingers crossed for a more crypto-friendly future! 🤞😄
That's great knowledge and research for upcoming BTC inflation.
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A huge blessing in disguise. this gives us more time to dca. I'm gonna move in on my exchange bitget to grab more BTC and ETH for wallet staking and NFT minting too