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RE: Bitcoin ETF - Waiting for Nothing
A Bitcoin etf is never going to happen and that's ok the markerts are not even factoring them in anymore
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A Bitcoin etf is never going to happen and that's ok the markerts are not even factoring them in anymore
Posted using Partiko Android
it would seem a bit hard to determine at any given time what the markets are "factoring" in or not in such a manipulated market. The price of Bitcoin is obviously manipulated - by how much, is to be seen. If and when a physically-backed ETF ever becomes listed somewhere in the world with a high enough volume such as in Korea or Japan where Bitcoin is legal, the price of BItcoin should go up a lot, it would seem. But not holding my breath waiting for either country to allow this anytime soon.
For sure if bitcoin hits a 1 trillion dollar market cap which is not honestly not a crazy number if an ETF takes off in one of those countries the value of just one bitcoin would range from $40,000 to $60,000 it would legit be a game changer and I have a strong feeling that is what the SEC fears and the amount of money that would be sucked out of the USD currency because of it.
Agreed 100%. Just waiting and researching myself until it happens - hopefully soon.