I want to discuss what the bitcoin is still on the fast track to rapid growth now what you might be saying the prices are really moving all that much this week it's kind of slow into that I would say you know it is still one day the presses been trading relatively sideways for a bit and that's actually not really a bad thing. I look to see when the press stabilizes because that honestly means that we're looking at a more positive outlook for the future a stable price is not bad. I do love it would be quite spreads rapidly grows up word however stability is always a good thing. so what exactly could be quite potentially grow a lot faster than people are expecting it to you well it kind of has to do with the big one ETF that is being repaired and the potential time frame for which it's development might actually come to fruition so I'm gonna go ahead and break that down in this article. Before I do I just want to say drop upvote follow and share with your friends. If you think that they would enjoy it let's go ahead and jump right into the content. so global markets will be ready to accept a bitcoin exchange traded fund in as soon as a couple of months fat fish internet group CEO can why Lao told CNBC on July twenty ninth speaking to CNBC is dedicated cryptocurrency segments. The bitcoin rush while expressed a firm belief in Brooklyn's current price rally explaining it's a very strong wave it's driven by institutional demand it's driven by adoption there's lots of interest this time around trading volume is several times higher than during the lows. And that is actually a very good point and as I have personally said in the past adoption will make a huge difference when it comes to the price of bitcoin and other crypto currencies. The bitcoincontinues to trade above eight grand after briefly dropping to route seven thousand seven hundred dollars late last week. which I'm sure many of you remember despite difficult boss points ETF receiving a second rejection on July twenty sixth price.
Has bounced back to run eight thousand one hundred dollars shortly afterwards reinforcing users believe in the robustness of the coins return to form and also kind of going off of that a rumor and all of you difficult must wins are only one set of people. There are a ton of financial agencies out there and many of them have a lot more power than these twins for example Goldman. Sachs is interested in crypto currency ETFs and I honestly do believe that they can always make it happen Lao noted that the bounce back is generally very positive for early adopters and people. who have interest in the sector as going telegraph previously reported multiple ETF applications or do for you by the US securities and exchange commission or the S. you see which is already postponed making a decision about offering from direct shot until mid September after the agency rejected the bingo bus ETF petition SEC commissioner Hester amperes published a statement of official descent arguing that the FCC had overstepped its a limited role. while told CNBC that he foresees a potential shipped in the regulatory atmosphere in the near future saying I think we're not far away. I think probably just a couple of months away from being ready for the market to generally accepted ETF. I do agree with that and I would also agree with the fact that out the SEC does appear to be overstepping the role of it in this case I don't really think that this sort of thing should be up to you government regulation as strictly as it currently is I understand that for the safety of investors is but necessary but really right now. The SEC I mean I honestly think that these ETS could play a big role in a lot of major investment portfolios that's my opinion but it you know anywhere more of that for different article. so fat fish caused a stir earlier this year when it announced it was entering the cryptocurrency mining market on the back of higher prices in January the companies one million dollars to one percent stake in Singapore start up a pack mining anyway folks that is the story for this article.
I hope the whole you enjoyed and learned something i Really do think that this ETF could be right around the corner. And while that is just my opinion I think it's starting to look more and more likely. so any or all of you have to say about the possible pick what you do you have that could be emerging very very soon. so anyway let me know down the comments section below as always drumming like share and follow.