I'll be discussing why exactly backwards price is currently rising above eight grand because excitingly enough this morning records for is actually surpassed a grant and that is absolutely fantastic to see I'm always thrilled when we break a major psychological price point eight eight grand is absolutely a psychological price point. It is a big deal and pick what appears to be coming out of the rut that it's been stuck in for a couple of months now now. I think a lot of that can be attributed to our institutional investor interest coming in to curb their currency is you know a lot of money pouring in from big name investors that always makes a big difference. But I'll be giving you the skinny on what exactly could be causing this massive growth. That we're seeing as of late so stay tuned for that hour ride all of you if you do you like this article drop a like share and followand check out searchnew if you want even more cryptocurrency dues each and every single day anyway folks let's go ahead and get right content. so the big corn prices today climbed above the eight thousand dollar mark for the first time since mid may leading many to protect a return to the poor run that happened last year. which power point to almost twenty thousand dollars the latest press for bitcoin comes after a week. That saw it at almost twenty percent to its price on the back of news that establish financial giants are looking to get in on the coin and crypto currencies and a raft of positive regulatory news around the world meanwhile the so called the quite dominant three day measure. How much of the total crypto currency market is controlled by big point rose to forty seven percent this week the highest level. since December of last year according to coin market cap so what exactly is pushing the going price so high right now many of the trip to the reason.
Bullishness round pick went to the expected purple of APEC when exchange traded fund or ETF the U. S. securities and exchange commission or SCC is mulling whether to approve the ETF. which was filed through the Chicago board of exchange by New York based band AKC and watching platform solid X. if approved a big court ETFs would meet people are able to buy in to pick one without having to deal with Clint exchanges that often struggle with cumbersome regulations and a lack of public trust it would appear as though the big point ETF is likely to get approved according to an unconfirmed report by the ICAO journal late last week. The website reports that two sources one of the S. you see in one of the United States commodities futures trading commission CFTC has said that there are nearly certain that the big point each yep we'll get approval a decision that many are expecting around August fifteenth. I would call the likelihood of approval ninety percent at this point the court the markets have moderated and regulators have watched the lack of drama surrounding the corn futures across several global exchange is one of the ice your journals unnamed sources from the CFTC reportedly said continuing quote the price moderation and adoption of a pure product is what the conversations have centered around and in January. we were justifiably affected circularly a gull in the injury it rapid demonstrate consequence could entice spectators and appoint losings that led to sign lawsuits now those agent seem to be mitigated significantly the ice your journal. second source from the SEC expects a decision to come in September but is still up beat and they say quote I would expect a positive outcome in September or neglect strung out a slight further it is plainly a few punctate I's and oblique teasel there being a on larger regulatory discourse in the crypto Time. so in other words folks like I've been saying for quite a while institutional investors are one of the biggest catalyst for pick one and big ones praise and I don't want to say I call it because that would be a bit presumptive an obviously.
I've been working with the opinions of many experts to formulate my own opinions but really it does appear as though institutional investors and even this ETF coming into existence will majorly drive to coin upward. so that is a pretty big piece of news keep your eye on that date of August fifteenth into September you know. I do think that we will see in each of filing around that time and I absolutely think that it's going to happen. so I do a folks that is my opinion on your all of your opinions on the comments section below let me know.
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