Hello everyone... as I write this... we are going now on 8th months in this extreme neverending bear market. And it seems that the only hope Bitcoin has now in order for the next bullrun to happen is not adding a new coin in coinbase or developing use case.... it ALL lies on a handful of Bitcoin ETFs that are still waiting to be approved and there has yet to be one to be approved yet.
So basically what Bitcoin ETFs (Exchange Traded Fund) are in simple terms is what is going to allow Institutional Investor, in other words... the investor with SERIOUS capital and millions upon millions of dollars to invest are going to feel a lot more safe and secure putting their money into Bitcoin and other cryptocurrencies because it provides these lists of benefits:
- Helps protect investors against price volatility and operational risks of sourcing and holding Bitcoin. In other words, big investors can feel a lot more safe to investing big money on Bitcoin without the big risk of losing the value they invested in.
- Adds Legitimacy To All Cryptocurrencies through Reputation
- Adds necessary regulations to help prevent more manipulation in the future.
- Can help facilitate mainstream adoption through the ease of use.
As you probably know by now, just the other day on August 8th, 2018, the SEC has announced that they were gonna delay the Solid X VanEck Bitcoin ETF all the way until September 30th, 2018! Causing a HUGE price dump from $7200 all the way down to $6100. That sure was ugly.
It seems we will still be in the bear market for a longer period of time until the SEC makes their decision on rather approving or denying the Bitcoin ETF by Sept 30th, 2018. If it approves, many expects the market to go back up, getting close to new all-time highs with many institutional investor putting a lot more of their money on BTC, BUT!!
THERE IS STILL A BIG CHANCE THAT THE SEC MAY DECIDE TO DELAY IT MORE ALL THE WAY UNTIL FEB OF 2019 WHICH IS THE EXPIRATION DATE OF THE SOLID X BITCOIN ETF! OR IT COULD GET DENIED AND THEN THE PRICE OF BITCOIN CAN GO TO NEW LOWS LIKE $3K OR LESS!!!
BE VERY CAREFUL PUTTING YOUR HARD EARNED MONEY ON THIS HYPE! DO NOT FOMO IN WHEN IT GETS HIGHER THE PRICES IN ANTICIPATION BEFORE SEPT 30TH, BECAUSE IF IT GETS DENIED, IT WILL GET SUPER KING BEARISH AND PRICES WILL DROP LIKE A ROCK. MAYBE EVEN LITECOIN WILL GO DOWN TO $10-20 BY THAT POINT, YIKES!
I plan to take in some profits if I see the prices goes up in anticipating the ETF Denial or approval. We are in the trend of Buy the rumor, sell the news now. But I will sell the news a few days before the BTC ETF gets approved. That's my plan for now. What about you guys? Let me know in the comment section below!
And if you find this blog post informative, be sure to give it an upvote and resteem this with everyone you know! :D Lets get ready for anything that will happen with the BTC ETF!