Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
So guys, after reading a bit aroud this incoming ETF thing, I didn't decided yet whether this event will pump or dump the price!
Plus it is not clear whether this time the application will be finally approved!
What do you think?
Plus it is not clear whether this time the application will be finally approved!
What do you think?
None of the previous attempts were successful so why would this one be any different?
I dont forsee it gaining approval, no.
I do hope Im wrong though because if it was approved I think the price would pump significantly.
It has a chance of approval because it is positioned as 'NOT for plebs' ETF and we all know that SEC only cares about that crowd.
Even with $6000 btc, each share in this ETF will cost $150,000.
Bingo. An ETF for retail investors would be summarily shot down. This ETF is for the wealthy. The SEC will not squander an opportunity to help the rich get richer.
It's the first step toward getting a retail ETF for the plebs approved. The wealthy elites need to be able to get in at the ground floor though, since that's where most of the money will be made. I'd expect the first pleb ETF to be approved when Bitcoin is at $50K+.
info - If the SEC approve an ETF tor the wealthy what effect do you think this would have on the price?
Give me numbers brother!
Maybe something like this:
If ETF is approved in late Aug, that couldl trigger a bull run that could take us to the top of the channel by the end of the year. I'll say $50K, conservatively. $60K+ if things get really crazy and manic.
Taking a look at another logarithmic chart by a reputable analyst, masterluc, if we bounce to the top of his middle channel by the end of the year, that would be ~$60K.