Hopes for Bitcoin ETF: how do they affect the crypto market?


Today, the crypto business, if not already caught in the trap of high expectations, is coming to it.


Remember how many rumors there were that the SEC would almost approve Bitcoin-ETF tomorrow? Well, if not tomorrow, then next week - exactly. Serious analysts pretended to know exactly the inside from the commission, which was almost ready to give approval. 


The market listened carefully to such speeches and reacted immediately. If there was optimism in influencers' words, the price of Bitcoin immediately went up. If there were doubts, Bitcoin would fall.




Rumors were the main driver of the market. The growth was largely determined by the expectation of the imminent release of the ETF, the entry into traditional exchanges and the arrival in the crypto business of serious conservative investors. And this is the kind of money that makes cryptocurrencies look like a schoolboy’s pocket money.


Do you have any idea what would happen if the committee didn’t approve or if he kept playing "we’ll think about it"? All this is quite possible, especially given the extremely negative attitude of the head of the SEC to cryptocurrencies.


I have no idea how low Bitcoin can collapse, and beyond it, the entire crypto market.

Everything that happens shows a fundamental weakness of Bitcoin as an asset.  Small capitalization makes it sensitive to events such as rumors or the actions of individual stock players. 


Now there is a lot at stake, first of all, the funds of investors who have invested in Bitcoin. They may well lose them. However, fundamentally Bitcoin is not going anywhere. It will wait until large-scale blockchain projects emerge that do not involve the mere trading of cryptocurrencies. Then the entire functionality of the blockchain will open and there will be an organic demand for the crypt.


Speculative money on the stock exchange is good. However, exchange trading alone cannot maintain the asset’s value. There must be a shift in business’s perception of the blockchain as a real tool, and then the demand for the crypt and the growth potential of the market will be limitless.


#Bitcoin #ETF #cryptomarket

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