is the Bitcoin ETF coming what does it mean what is this all about today
talking about the recent move in Bitcoin in the idea of a Bitcoin ETF saving the
cryptocurrency world at least that's what people believe is happening the
Bitcoin ETF the Bitcoin ETF is going to save cryptocurrency
breaking news today that the SEC has postponed their decision on the Bitcoin
ETF now we've seen this before the SEC has had this question before it was the
Winklevoss twins I think back last year that were trying to set up an ETF for
Bitcoin and well the news comes out today that the SEC has postponed it
until September a lot of people were thinking that August would be the
official announcement but now it looks like the SEC has postponed it until
September the information they gave to people was that the Commission finds it
appropriate to designate a longer period within which to issue an order approving
or disapproving the proposed rule change so that they have a sufficient time to
consider this proposed rule change now one thing that makes me kind of excited
about this idea is that well they're postponing it and if they were really
just against it wouldn't they just say no no no we don't want any of that it's
never gonna happen they would just end it right now but it seems that there is
a possibility that the Bitcoin ETF could be approved now basically what is the
Bitcoin ETF so from the research that I've done is that the ETF would base I
think it would be for ETF there would be an ETF that follows the volatility there
would be an ETF that basically follows Bitcoin in general and then there's two
others there probably be like a three times ETF for long and then three times
short so there's any couple different options for people in the stock market
to play into the whole Bitcoin craze if Bitcoin really starts to make some major
moves again this could be an interesting way for people who aren't really into
the cryptocurrency world get some exposure to the overall creep of
currency market with some of these new ETFs if they do come out so like I said
overall I think this is good news that they postponed it they were just not
looking to actually ever do anything with it
they would probably just cut it off already and had already had it been done
already kind of just said no to it but it looks like they're you know spending
a little bit more time on it really trying to research and figure out what
they're gonna do the big thing here is that if the ETF does happen if this all
comes into play you're basically as a government as the
SEC you're basically saying that bitcoin is a real thing
it's like gold so that's probably the one big issue here there's a lot of
things that come with the idea of a Bitcoin ETF some of the new ETF for
litecoin or aetherium there's gonna be all types of stuff happening so this is
gonna be interesting to see what happens here September 21st is going to be the
official cutoff date in terms of them actually releasing their final judgement
here on the idea of having a Bitcoin ETF if they do approve it it's gonna be a
big win for Bitcoin you can see a Bitcoin here making moves I think a lot
of this move today was because of this news of the SEC postponing this there we
go look right now we're at 8,500 so Bitcoin today jumping over 8,000 at
$8,000 area was a key area to watch and let's see if we can get above that
$8,800 area but right now everybody just keeping a close eye on Bitcoin
cryptocurrencies now with the whole SEC deal and seeing what's gonna happen with
this Bitcoin ETF this Bitcoin ETF is going to change the game if it happens
if it comes out and the Bitcoin ETF is the real deal and they go to market and
it all starts happening it's gonna really create a massive massive bullish
move for cryptocurrency for Bitcoin going into the future and it's gonna be
interesting to see what happens like I said I'm gonna be keeping a close eye on
this $8,800 area I want to see this thing break above the 200-day moving
average and get moving eight eight hundred nine thousand dollars that's the
next resistance here for Bitcoin let's see what happens if this can break out
here if we can get going it'll be interesting you see this overall
downtrend kind of finally breaking out we you know we had some little breakouts
before but I think this recent breakout is a little bit different than before
and it's kind of interesting to see how this is gonna react to that $9,000 area
$10,000 if we can get Bitcoin up above $10,000 I think we're off to the races
we should see some really amazing moves here at the end of the year with Bitcoin
with this whole ETF craze and everything is going on right now I'm saying it
right now I'm saying it then I'm bullish I am bullish on crypto currencies I
can't tell you what's gonna happen in the short term but I'm thinking by the
end of 2018 we're gonna see some massive moves to the upside and the overall
cryptocurrency market it's gonna be interesting to see check back here
the end of 2018 well we'll talk about it we'll see what happens maybe I was wrong
maybe I'm right