Visualizing the Bitcoin ETF from Gold ETF history.
The infographic compares GOLD ETF with Bitcoin ETF (if approved) and how ETF could impact Bitcoin. It is clear to see that there should be some pump if ETF is approved as looking at the GOLD chart history, after ETF it just skyrocketed.
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https://twitter.com/wo_crypto/status/1020186956637057024Credit:
https://t.me/whatsoncryptoGold and bitcoin are not the same nor similar. Gold is a physical mineral while bitcoin is digital, this means that the digital gold being traded is backed up by the physical gold. Bitcoin is not the same hence we cannot be certain that during the approval of bitcoin etf, bitcoin will really increase in value. But I guess we dont need to worry since bitcoin is already starting to move up and it will eventually hit 10k dollars by the end of July, 2018.
It is not about Gold or Crypto to be the same. This chart states the behaviour of the Market which is related to Human emotion. In this case ETF. The creator of this infographic is trying to say that, both, gold and bitcoin behaved nearly similar. Atho time difference, but still, look at the 1st bubble (1st ATH), for gold it took years. For bitcoin it took just months. So what I understand is that, ETF could really impact the chart and drive the prices to the clouds and above if some shadow trading is not done behind. Nice one by the way! Love it.