This will drive down the price of bitcoin even further. You all a traitors to Bitcoin idealogy. You all want to get rich quick. I will enjoy watching everyone cry when the price is ₹100 for 1 bitcoin. This is your doing. Down vote me all you want the fact remains you dont care about bitcoin and its ixealogy. You just want to wait for the next sucker who is willing to pay more than you did
Yeah, I'm not so positive. It might be good from a financial standpoint, but from a technical one I think it's long term negative. ETFs will be large economic users, and they will be upgrade conservative and privacy unfriendly.
Hmm, interesting that there might be a weird period where there's only 3 commissioners where 2 pro-crypto votes could approve the ETF. Otherwise with 4 commissioners you still need 3 out of 4 to vote for the rule change, which is very tough. Even with this new pro-crypto commissioner you need to flip one more vote.
4 commissioners + chair. Chair is pro crypto (quotes around the internet) and if push comes to shove he will side with his inherent party (republican) to avoid a highly criticized and lengthily tied outcome. Also, one of the anti-crypto commissioners is required to step down come December, so that makes it 2 pro - 1 anti, and that's without Jay :)
We'll see this ETF approved somewhere between late December and early/late February. Somewhere along side that time frame we'll then bullrun to 52k-75k+
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I doubt an etf itself is enough to push to those levels unless some huge retirement fund manager decides to add it to their default portfolio. All that stuff is gonna take time. I still think it'll be a little while longer.
But I'm a patient guy lol
there will be a slow but steady build up in 2019 (maybe hit ATH) and then the halving hits in 2020 and then we'll see some crazy shit.
CryptoPapiCC: 2726 karma WTC: 658 karma4 months ago
Where’ve you been the past 10 months? The market infrastructure is much more robust now compared to the 20k run and it would only take a handful of institutions to allocate 1% of their portfolios to hit those prices.
2019 should be exciting regardless!
“…the SEC is first and foremost interested in investor protection with these types of new asset class submissions. VanEck has that issue covered in spades with zero leverage and accredited investor protections built into the product. That will win the day, eventually. Expect the rhetoric to ramp up and ‘warring factions’ to become more visible leading up to any decision early next year, but I remain imminently confident in an approval.”