Bitcoin ETFs
The Federal Register publication (Bitcoin ETFs) appeared on July 2, meaning the date for a decision can be no sooner than August 16. Because it was stated that "Within 45 days of the date of publication of this notice in the Federal Register or within such longer period (i) as the Commission may designate up to 90 days of such date."
Approval of a bitcoin ETF could be huge news for the cryptocurrency market. The creation of a bitcoin ETF will give further exposure to the price of bitcoin and help protect shareholders against operational risks associated with investing in the asset.
The first gold-backed ETF was launched in march 2003, and the price of gold has since grown astronomically—from $332 at the time of the launch, to around $1257 at the time of writing. While other factors might have contributed to the meteoric rise in price, the accessibility and market liquidity that gold ETFs have provided the market has doubtless contributed, representing an easy way for investors to buy gold, even if it is not possible to buy coins or bars due to the costs of storage and acquisition. The gold-backed ETF made trading gold as easy as buying shares of any stock, turning what was formerly a market for specialists, into a market for everyone.
Therefore, i think that we might be seeing a bull run (mini or large - i'm not sure) but definitely the accessibility to buying a stake in Bitcoin will send the demand going up. Probably its a good option to continue holding till mid august while we await for the potential bull run once ETFs are finalized. Meanwhile, i highly recommend to just hold big caps coins because on average, most alts have been falling alot more than BTC and ETH and i believe the trend of big caps out performing small caps will still continue.
The Federal Register publication (Bitcoin ETFs) appeared on July 2, meaning the date for a decision can be no sooner than August 16. Because it was stated that "Within 45 days of the date of publication of this notice in the Federal Register or within such longer period (i) as the Commission may designate up to 90 days of such date."
Approval of a bitcoin ETF could be huge news for the cryptocurrency market. The creation of a bitcoin ETF will give further exposure to the price of bitcoin and help protect shareholders against operational risks associated with investing in the asset.
The first gold-backed ETF was launched in march 2003, and the price of gold has since grown astronomically—from $332 at the time of the launch, to around $1257 at the time of writing. While other factors might have contributed to the meteoric rise in price, the accessibility and market liquidity that gold ETFs have provided the market has doubtless contributed, representing an easy way for investors to buy gold, even if it is not possible to buy coins or bars due to the costs of storage and acquisition. The gold-backed ETF made trading gold as easy as buying shares of any stock, turning what was formerly a market for specialists, into a market for everyone.
Therefore, i think that we might be seeing a bull run (mini or large - i'm not sure) but definitely the accessibility to buying a stake in Bitcoin will send the demand going up. Probably its a good option to continue holding till mid august while we await for the potential bull run once ETFs are finalized. Meanwhile, i highly recommend to just hold big caps coins because on average, most alts have been falling alot more than BTC and ETH and i believe the trend of big caps out performing small caps will still continue.
King's Charts™
Bitcoin price must cross to 6430 level for positive momentum.
Finally btc crossed above level. This is a good movement
ETF giant BlackRock establishes working group to examine Bitcoin futures, Financial News reports
Forwarded from Cointify | Blockchain & CryptoCurrency
Bitcoin on the rise: $11 billion jump in market amidst BlackRock's entry eminent
BlackRock, the world's largest asset manager, with around $5.4 trillion in assets under management, is said to be considering getting into the cryptocurrency market, according to a report in Financial News.
Quoting BlackRock's spokesperson -
"We see cryptocurrencies potentially becoming more widely used in the future as the markets mature. Yet for now we believe they should only be considered by those who can stomach potentially complete losses."
Markets have probably reacted to this news and Bitcoin is trading just over 4% higher on the day at $6,616. The pump started about 3 hours ago when BTC jumped from $6,370 to $6,620, its largest spike this month. Trade volume has climbed from $3 billion this time yesterday to $4.8 billion at the time of writing.
BlackRock, the world's largest asset manager, with around $5.4 trillion in assets under management, is said to be considering getting into the cryptocurrency market, according to a report in Financial News.
Quoting BlackRock's spokesperson -
"We see cryptocurrencies potentially becoming more widely used in the future as the markets mature. Yet for now we believe they should only be considered by those who can stomach potentially complete losses."
Markets have probably reacted to this news and Bitcoin is trading just over 4% higher on the day at $6,616. The pump started about 3 hours ago when BTC jumped from $6,370 to $6,620, its largest spike this month. Trade volume has climbed from $3 billion this time yesterday to $4.8 billion at the time of writing.
6 months ago, $ICX at $10-“Bigger than Ethereum”
$ICX at $1.50 now- “ It’s a scam”
WTF
$ICX at $1.50 now- “ It’s a scam”
WTF