Bitcoin ETFs adjust to the current modes of operation of the institutions
In the last 24 hours the Bitcoin price action led it to reach the important $39,000 zone, an element that gives reason to indeed project a preparation for the next bull run, however, news related to Bitcoin ETFs seem to be the triggers for this good moment the market is going through already entering the last month of the year 2023.
In addition to the fact that the market is going through a good momentum going through the market already entering the last month of the year 2023, in an article uploaded by Hermi DE Ramos on the Cointelegraph portal, he pointed out that the CEO of eToro has indicated that Bitcoin ETFs and user experience will drive its adoption, which would undoubtedly mean an exponential growth of the BTC price action.
According to Ramos, "Although global cryptocurrency adoption stagnated following bankruptcies within the sector in 2022, the CEO of trading platform eToro believes that the appeal of exchange-traded funds (ETFs) to institutions and the ease of investing through various platforms for non-professionals could further drive Bitcoin adoption."
It was also mentioned that, "that the availability of a Bitcoin ETF would likely strengthen Bitcoin's legitimacy in the eyes of institutional investors and, in turn, could support the price of the asset, as it represents a familiar and institutionalized form of investment."
They assume that "Cryptocurrencies continue to be an emerging internet commodity, and we will continue to see increased interest over time in Bitcoin over the next ten years. I have no doubt that in 10 years, it will command higher prices and be a more significant force in the world"
I would like to know your appreciation of what has been discussed here.
SOURCES CONSULTED
Cointelegraph. Bitcoin ETFs, user experience will drive adoption — eToro CEO. Link
OBSERVATION:
The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Cointelegraph
It's really a good insight and I believe the next bull run could be epic so to speak taking cognizance of all the good news & sentiments surrounding the market. I'd be watching my bags not to make rash decisions rn while taking advantages of the Smart portfolio bot product of the largest copy trading platform.