The big point sitting at the highest level since the end of may it's up over thirty percent since bottoming at fifty seven hundred that was the end of June make calling bulls are putting their hopes for more games on a bitCoin. ETF getting approval by the SEC really a bit corny tip was filed by the CBO week back on June twenty six and backed by panic this is a re application.New form. Of an old one that was rejected last year it's got some bells and whistles but essentially the old one because the SEC typically takes forty five days to make a decision a lot of people are assuming that we'll get a decision on or before August fifteenth or so there's no doubt that a positive verdict would lead to another run up in big point. But Don't hold your breath On this I don't think. so I've interviewed both the chairmen of the SEC J. Clayton and the man in charge of big point policy at the SEC and both have made it clear to be they are taking a go slow approach on the whole big pointy teeth thing clean is not going to take the risk of getting called in front of Congress on charges. He allowed mom and pop to lose money on big point at least not in twenty eighteen even if the price of this particular eats yeah is very high my guess is that the FCC will not deny the crap request but they will extend the comment period. That's the ruling that would cause the least friction and the most likely path here they will cite their previous security concerns about break ins and thefts of wallets along with allegations of manipulation. Their stated before I know it is also very real cuts the only in questions that have not exactly been settled here but other parts of the big quite Jagannath keep rolling not quite Billy going basis one day political action committee to raise money to spend on US elections. The New York Stock Exchange that was a big rally here to stay crypto wall. Because I hope so Over to the closet to give us his latest book ok speaks Yeah for sure.
I also look there's a neat yeah but I'm on this I think the chances of a ET up in twenty eight teams are relatively low there's still quite a few things but that doesn't stop speculation on that and that's one reason. why we've seen this bottoming process here. All the way up here number two institutions are starting to get serious. I can tell you from the calls getting people that looked out on December didn't like the prices are coming back now and say alright this is not going away. we need to understand what it is witnesses asset class that into our portfolio and this we can use our report that client base is potentially secured a twenty billion dollar hedge fund for the cost of the service. so the number twenty one of the institutions one three dot always here and yes because what what three wide awake even cannot be confident that's what because got shot. So let's take a look at the next chart here this outlines the different types all let me just a race this year. So what should we want to be getting that was basically like a big global library everything there weren't books got dumped into a giant database called the internet.To help companies like Google but he spoke with you a global publishing platform you now could create content and put into that giant database we call the internet and here we all are in one three and what we're doing moving from a database to a data bank and what does that mean that data that is in the internet is valuable. we will certainly isn't just selling ads because those data that they're selling data monetizing at the act wept when is the new internet improved internet without data could be monetized. How do you send something of value across an open network like the internet with the crypto currency and that is exactly.
why institutions are starting to get into this they're saying how this fits into the portfolio up what three out of stocks. Told a group went three point no but I'm also a traitor and I feel like the reason big point is hers because people are more comfortable buying at seventy eight hundred than there are six thousand and the probably more comfortable ten thousand. It's a building reflects a market that was similar to gold right the more it becomes the more valuable it becomes and that's very true for the gold and the currencies. So with the three reasons why you sent this bullish break out could be different or is here to stay the same three reasons that you could have said five months ago or in December. why are they more real today verses before when it went on to climb still. Well you know the madness of crowds of something we try to figure out all the time but I would suggest that months ago we had some had which remember we had multiple different out Of tax. Like we had now docks trustee selling a lot of big sellers out there that appears to be over and so now you have this positive news flow and I talked about one fifty eight hundred shock I was shocked that people weren't getting yet and sometimes it just takes the market a little bit to catch up and here.
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