Bitcoin ETF – You wont believe what happened

by birtanpublished on August 25, 2020

The SEC made an unbelievable decision on Bitcoin finance supports an unbelievable airdrop all right here on crypto PD Oh what's going on guys so as we know it the market is down a little bit we got about 10 billion siphoned out of the market we got a total market cap right

Now 280 billion we've got a Bitcoin dominance of 46.9% ok so what happened guys what happened why is the market going down I'll tell you why k let's first look at the bigger scanners Biggers gain is a V chain I'll

Explain that too in this video why V chains up so much Bbox token is also up 16% we got 10x up 4% bigger losers we got iOS T down 15 GX chain down 13 we got one chain down 13% okay so let's just move on to this news man like this

Is some fucked up shit I feel like strings are being pulled in this market some people some very powerful people won't let this market get to where it's at because it feels like they're not ready to cash in yet

That's how it feels like to me Bitcoin misses out on 50k price spike with ETF uncertainty so bitcoins recovery has just been dampened by the US Securities Exchange Commission uncertainty over Bitcoin related exchange-traded funds

Predicted to push the price of BTC beyond $50,000 this was just released like a couple hours ago guys with Bitcoin recovering from its recent low point of five thousand seven hundred eighty five dollars to Ohio this week of

8400 crypto traders around the world were optimistic for a positive outcome over a much hype ETF that will mark the biggest step yet for digital asset moving in to the center ground of mainstream finance

However yesterday's statement from the SEC pushed the decision back to September September guys it pushed it back to September can you believe that shit like we it's supposed to be like a couple weeks from now man these guys

Pushed it back to September just like I said guys there's some very powerful people that just keep manipulating his market they just don't want it to grow yet I just think the market is not ready yet there

Major problems still man people are still getting hacked like crazy there's so many phishing scams like if the world was in this man these hackers would just annihilate them we gotta find better solutions to solve some of the major

Problems maybe they're trying to delay this for some reason okay so the Commission the Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule

Changed so that it has sufficient time to consider this proposed rule change a Bitcoin ETF would allow people to buy into Bitcoin without having to deal with online exchanges that suffer from credibility issues and lack of

Regulation in short unlike a cryptocurrency store on an online wallet and ETF as an investment fund which holds stocks bonds commodities or any basket of assets and traded on stock exchanges if an ETF was approved by the

SEC the successful applicant for example the CBOE will need to hold cryptocurrencies as collateral and also suffer greater levels of transparency with investors hold and protected against hacking and theft

Mathew Newton market analyst at Doral explains custody has emerged as one of the central themes in the conversion around cryptocurrencies this year together with regulatory oversight it could underpin the next big move in

The market he adds that the CBOE would need to back the ETF with real Bitcoin but they might not store Bitcoin themselves they could use a trusted party potentially an incumbent financial institution make its first step into the

Crypto market or a more established crypto currency company in short Bitcoin ETS will just help the entire cryptocurrency world grow and strive more confidently towards the center ground of mainstream finance in February

This year JP Morgan broke the negativity cycle to cite the potential of Bitcoin based etf describing it as a holy grill for owners and investors however yesterday's statement from the SEC said the Commission finds it appropriate to

Designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change show AB AB deed director of ICM capital told

Express CEO that SEC has only delayed the decision on whether to approve five Bitcoin related ETS by direct investments told the 21st of September and still welcoming public comments

Regarding the matter of approving Bitcoin ETFs he said the majority of the comments show that people are happy and excited about the ETF's why because a lot of people believe that it will be good investment opportunity

And will eliminate the security risk of holding cryptocurrencies moreover people who already own Bitcoin or another cryptocurrency a higher price levels wish that an etf could boost prices and repeat the CBOE futures contract

Scenario so how high could the price of BTC go if the SEC changes is tuned on his 21st of September mr. IBD says that gold offers a potentially equivalent scenario he says analysts are comparing the era where gold ETS were introduced

To the Bitcoin ETS and assume that the Bitcoin price could surpass 50,000 if ETFs were able to attract institutional money it can be expected that Bitcoin will retest its all-time high Nicholas Gillard's co-ceo of all turtle Express

Co that UK that despite the negativity from the likes of Warren buffer or James diamond we've seen the majority of bankers welcome crypto so he said I think it shows that institutions such as Blackrock and big banks are getting

Ready for soft regulation and it's likely that ETS for Bitcoin or futures for ETS will become a reality soon whether they believe it or not they will most likely be willing to trade it and ultimately that's positive for the

Crypto space because what volume comes legitimacy so there you have it there's that article right it's pretty much it's just explains guys that these guys are delaying it there's major problems with crypto but this is gonna solve some of

The problems that is plaguing an annex this article explains it pretty well I like this article guys let's look at the price right now I'm trading for you I'll pull it out okay so the sentiment on trading view is still by I don't know I

Don't know here's another chart that this gentleman made like a day ago I love this chart right here pretty much explains what's going on in the market right now so right now we're just under 8,000 right so there's shallow support

Right here 7700 ATS like that current support comfort zone right around there we had that major was just an 8500 right and that's because we've hit that part so many times look back here waited like five times over a long period of time if

We just get past this major resistance point let's pull up a chart right here like goofy get past the 8,500 could go right up to just under 8900 like let me pull up the full chart for you right here is the full chart of

Bitcoin right here see these all these wicks right here know how we've hit it so many times some resistance right just above the $9,000 range so again there's just a little bit of resistance there but if we just peek right past the 18900

Around that will 9100 range man we're golden right there we just keep climbing and go higher but if the ETF's gets released I don't know what's gonna happen the price of me honestly but I don't care I think there's still plenty

Of ways to make money in this market there's plenty of ways for example let's move on to my next article right now well it's not really an articles I could use you know let's go back here first and we'll look at the biggest gainers

Right so you know the biggest gainer is v chain right now and the reason why V chain is the biggest gainers right now is because by Nantz has this promotion going on right let's go to buy Nance right now so buy Nance will support the

Distribution of V th o to ve T token holder so every ve T token holder that's V chain Thor will get one v th o token so a V th o token is worth just about over ten cents so that's why a whole bunch people just bought a whole bunch

There's gonna be a snapshot on the 31st of July so that's like a week from now it's pretty much this coin has gone up what 15% right now with these air drops you pretty much get like a free 10 to 12 percent on your investment for V chain

Holders right so that's why a whole bunch people with just one and V chain right away and they're just holding on to it and they're just waiting for this air drop I bet you when the air drop hits and they get their tokens Bullis be

A sell off rate but it is what it is like that's why you see that big boost for V chain right now right but some people are still actually selling and they're probably buy back in when this goes down a bit so that's another

Strategy right there so that's why we chain is up right now anyways guys I hope you guys liked this little news article this was Kasem from crypto pedia we got more news and more crypto refused to come and I'm out

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