Hi steem friends
hope all are fine and enjoying
Lets talk about crypto, as we all have a smile on our face while watching the crypto rally in few days, the news that the asset management giant blackrock looks to enter into the crypto market, even previously the said giant criticize it.
However things are not as easy as we think, as the decision on ETF which is likely to take place in august mid is delayed by the SEC till september as a result may be we have seen some red signals in the market in last 24 hours.
Let me know you the said decision on ETF is not reviewed by SEC for the first time, previously the said decision was rejected by SEC due to lack of overseas regulation on cryptocurrency, but over the past 1 year conditions are improved and the regulation on cryptocurrencies have taken place.
may be the said decision on ETF delayed further as the as per experts
I also hope there is an ETF. But i think the chances of BITCOIN ETF in 2018 are relatively low. There is still quiet a few things that does not stop speculation on that. That's one reason why we have seen this bottoming process from $5800 to $8500" said by Brian Kelly (expert)
ETF is not a single reason behind this rally, the another most important thing is bitcoin futures, the another important date is tomorrow i.e. friday july 27th the date on which the futures offered by derivatives giant CME are scheduled to expire.
so, we will see a bigger movement in tomorrow too. whatever the movement will be but news shows now the bids are on the upward movement of bitcoin, so lets hope the rally will continues and we will see the benchmark of $20000 soon.
