Wall Street (Institutional Money) Is Coming: Prices Will Explode

in #bitcoin6 years ago

The entire cryptocurrency market is <$300B right now. It peaked somewhere around $800B before turning south, aiding by a great deal of FUD.

Many seem intent on listening to the FUD believing that cryptocurrency is not going to explode in coming years. Most of my writing centers around the fact that this is completely untrue. The foundation of cryptoeconomics is being laid as I write these words. Often I tell those who are in a position, ignore price action and focus upon development. That is what ultimately will provide value.

Nevertheless, price action will be affected here shortly. Wall Street institutions are aching to get into the cryptocurrency game. Thus far, we were not a true part of the Wall Street casino. That is about to change. Cryptocurrency is about to be legitimized by this group meaning that we are looking at trillions of dollars that is available.

We see inklings of this via the headlines. Some of the actions by Coinbase, as an example, show where they are headed. However, a few acquisitions, especially by an outside entity does not mean access to Wall Street is provided.

That said, we now have the start of companies maneuvering to go direct. Here is a link to the SEC site that shows the filing for a Bitcoin ETF.

https://www.sec.gov/rules/sro/cboebzx/2018/34-83520.pdf

This is as legitimate as it gets. The SEC took the next step and open the filing up to comments.

https://www.sec.gov/comments/sr-cboebzx-2018-040/cboebzx2018040.htm

We are witnessing standard operating procedures for a move of this type. After a comment period, it will be up to the SEC to determine the validity of the claim. In the filing, the Trust referred to a number of other approvals that entities received from other regulating agencies such as the State of New York. I would say this bodes well for getting the go-ahead.

That said, the SEC could still reject this. My opinion is that the SEC will not fend this off forever. There is going to be someone who gets approved and this might well be the first. If the SEC agrees, it will be the first of a flood of ETF that will open surrounding many different tokens.

To see the power of Wall Street, here is a part of the filing.

The Trust intends to buy and sell bitcoin in the OTC bitcoin market. The Sponsor currently expects that often it will be more cost efficient for the Trust to effect large trades (e.g., $500,000 or greater) in the OTC market rather than on a bitcoin exchange, The Trust therefore expects to conduct most of its trading in the OTC bitcoin market, primarily on the OTC platforms that comprise the MVIS® Bitcoin OTC Index (“MVBTCO”).

It will purchase Bitcoin in blocks greater than $500K. It will not be uncommon to see multi-million dollar purchase. It takes a lot of $5,000 and $7,500 BTC purchases to add up to that. And this is only one potential ETF. What will happen when there are 20 of them?

This will put extreme buying pressure on all tokens. It is the anticipation of moves like this that give people the fodder to place outrageous claims on BTC by year end or 2020. When Wall Street gets involved, the money does start to flow.

Here is the position we find ourselves in. Do you really think Wall Street will be shut out of this market? Personally, I do not see how that happens. They will get in and, when they do, things will get real crazy.

Hodlers will be rewarded when that happens. The sheer buying power almost mandates it.

And then, with Wall Street money flowing in, we need to focus upon decentralizing everything right under their noses.


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Greetings, Taskmastter

Very nice news. I've read something about it around here. I live in Brazil. In the news, he said that the American stock Exchange was thinking of starting to negotiate criptomoedas. However, it was only a news read. Now, it looks like this is confirming.

I imagine that when you begin to be traded on Wall Street, the price of all criptoemodas will tend to rise, because more people know what is bitcoin and altcoins, and have more confidence to buy and sell these coins. With this, I imagine that the price of Steem currency tends to increase as well, since its ascent is tied to the rise of bitcoin!!!!

Thank you very much for posting

Good night!!!

A very nice point about crypto's reality dear @taskmaster4450 . And i want to add, no doubt about the day will be arrived. Wall Street or any other major market will be eventually resonated to cryptoworld, if they want to stay up to date! So Hodl till the right time.

If there will be that much demand on OTC markets, imagine how much less supply there will be on retail exchanges which could put a lid to the sellibg pressure. It may also be a catalyst to ETH which will have the next largest potential for trading pairs in exchanges that need cryptocurrency to exchange into others.

Great points, buy low while you can, this bear market will not last.

IDK what it is but I feel like once crypto takes hold the entire worlds going to be in a much better place!

I agree with you @bitcoinflood. Cryptoeconomics is going to change the world. It is going to provide us with a drastically different way of operating. No longer is scarcity going to be the norm.

I agree wholeheartedly we’re just scratching the surface of where crypto can go.

I still think Facebook coming out with a crypto would be huge as well. Even people who don’t have any kind of retirement fund could potentially get into crypto at that time. Mainstream adoption by average Joes may not have the financial backing of Wall Street, but long term, the average Joe getting into crypto may be more powerful than Wall Street jumping all in.

I hope you are right my friend. Only time will tell though. I don’t think it will be this year though.

It is, congestion ...
When the market is congested with a flooded transaction ... the price will be unstable, the unstable transaction Tail between demand and supply will create a big hole that the trader hunted ... it will be long term bullish ... my opinion @taskmaster4450

In 2017 Q4 the spirit escaped from the bottle, and no one can restore it.
Wall Street thinks, it's time to board the train. And thinks right :)

I know that it is not the object of your article,but do you know why is binance holding all steem operations since last Wednesday and why only steem(I think)?

Even if just Bitcoin gets listed every other market will moon as well. We all now that the crypto-web is intimately connected.

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