So about this here bitcoin bubble we're inflating. It is a bubble in the making, but I see this as people playing with monopoly money. Bitcoin isn't a stock, and hopefully people aren't mortgaging their houses to buy crypto. If we crash back down to $420 tomorrow, I won't have lost much money and it will have been a good ride. But if the stock market crashed, I'm a bit screwed, as are millions of people who own stocks or have 401(k)s.
And for this very simple reason the SEC wont approve bitcoin ETF this time around.But you have to take note that it has become a parallel economy which is into billions of dollars and it might create a ripple effect in the entire financial sector at one point,i am not telling that we are seeing that now,but in the future we might feel the consequence.
The SEC won't approve BTC ETFs because it can't control BTC. Bitcoin price variability does still seem to be susceptible to manipulation by organizations who control a large portion of the mining machines, or people who have very large stockpiles of bitcoins.