Bitcoin is not going to grow

 

Bitcoin-ETF was approved, but bitcoin is not going to grow. Moreover, on Wednesday it fell significantly. What is going on? We expected that a new era of cryptocurrencies had arrived, which we had awaited so long. Do you remember what predictions our crypto-prophets made? Bitcoin for $100К! 

BlackRock had raised about $400M in its fund by Wednesday. It’s good results in a few days, however, this is a completely insignificant amount by market standards.

There is a serious danger that traders will become noticeably disappointed, and this disappointment will cause a collapse. Not to say that the probability of such a development is high, but it is quite real.

In fact, we are just at the beginning of the bitcoin-ETF situation. It is a specific speculative asset, formally it operates exclusively on the stock market. In fact, however, it includes a new market audience that is able to create demand that is multiple of what it is now.

Then the laws of the market are included - demand leads to an inevitable increase in the price of Bitcoin, which will drag along with other cryptocurrencies. How much can the price of Bitcoin rise? 

Growth is possible by an order of magnitude and more, as the ETF market capacity exceeds the current crypto markets by orders of magnitude. No less important is that together with Bitcoin, other cryptocurrencies will attract investors' interest - ETH-ETF is already actively discussed.

Today, the crypto market is fairly poorly capitalized and manipulated.

ETF is able to give it a new quality, and this is certainly a positive development.

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