Hello and Namaste Everyone,
Bitcoin ETF has finally approved a lot of controversies and speculation. It's been 15 years of the Bitcoin journey and finally, the day has arrived when it is a regulated asset in terms of exchange-traded funds. ETF, an exchange-traded fund, is an option for institutional investors to invest money in Bitcoin. Retail investors are OK to invest through the exchange but institutional investors expect a legal way to do that and ETF fulfills that requirement. Although some exchanges provide OTC services over the counter is good for the bulk buying of Bitcoin and other cryptocurrencies
It a great news for everyone in the Crypto space that Bitcoin is part etf is approved now. The market is looking good and most of the coins are in green color including Bitcoin which has also increased its value a bit. The impact will not be seen instantly in a bigger value but I think in the long run it will be a big game changer. Gary Gensler has finally voted for Bitcoin after a lot of controversies and even his warning tweets are like a kind of disclaimer that he wanted to share with the people before saying go-ahead for Bitcoin ETF.
This year we also have another event which is going to be the Bitcoin halving. The first event is already over that is Bitcoin spot ETF approval and the second is scheduled to happen in April. Usually, we have seen that the price of Bitcoin has grown a lot after the halving so it is expected that this year we might enter the bull cycle. There is no prediction about the price and how things will be this year, but the bull run is expected to happen this year or next.
U.S. Securities and Exchange Commission (SEC) chairman Gary Gensler was among three of the five committee members who approved the filings that made the first-ever spot bitcoin (BTC) exchange-traded fund (ETF) a reality.
I'm happy to see this news and hopefully, this will add more value to Hive also. Everyone in the crypto market is happy because indeed it is good news for all of us and we should be happy. Let's hope it brings more value to the crypto market and we get to see Bitcoin reaching 100K or even more. Bitcoin is pretty much close to 50K and it is expected that in this cycle it will be one hundred K or more. Slowly we will see some increase in the demand as more people enter the trade for buying Bitcoin etf. Hopefully, more institutional investors will be joining in on this trend and will be trying to accumulate more Bitcoin through the ETF.
It's also a good time and accumulate more Bitcoin. It is also expected that in the next bull run cycle price can be 100k so this is still worth buying as we know that Bitcoin is highly safe as compared to other coins. I hope the journey for Bitcoin goes up in a great way and we all benefit.
Thank you so much
Stay Safe