SEC GIVE UP ON FIGHT AGAINST BITCOIN ETF

SEC GIVE UP ON FIGHT AGAINST BITCOIN ETF

By Ishfaq_Khan | Crypto Analyzer Pro | 14 Oct 2023


 Have an announcement that is not coming from the SEC breaking news that the Bitcoin ETF ruling from the Grayscale Bitcoin Trust GBTC is not going to be appealed by the SEC. Meaning, the court said, hey, look, you have to approve a Bitcoin ETF and do it.Otherwise we don't know what to say because this logic doesn't work and the SEC was going to potentially anneal that rulina. Now they're not going to appeal that ruling, AKA the Bitcoin ETF, looks as though it's all but getting through the bureaucratic process.This is massive in my opinion.

We knew this was coming, but now this is that that piece of the puzzle we needed, which is that the fight is over.OK?This is massive.And people are saying, Oh well, if grayscale Bitcoin Trust is able to redeem their BTC and then sell them at market, well there might be this big dumping effect, there might be some arbitrage.In my opinion this is a massive bull catalyst for the next cycle for Bitcoin in general.Everybody and their grandma being able to click over, add some Bitcoin to their portfolio pensions.

It is unreal the amount of new money that now has access to Bitcoin as soon as we get that

ETF.And don't forget BlackRock, Vanguard, Fidelity, the biggest financial institutions in the world will all be doing what? the way crypto is today, the amount of hacks, the amount of vulnerabilities, the crazy amount of processes it takes to participate in crypto to not get fished, it's just too much for grandma. So grandma's going to buy the ETF, probably buy the Ethereum ETF.When it comes around, I believe it will come around, but just know this isn't for the hard cores.This isn't for those advanced users, but it is going to benefit us all I believe, and it is easily the ingredient in the soup that sends Bitcoin to six finures on the next run.

where it ends up landing, I don't know, it depends on a lot of stuff, but this makes me really bullish again.The time right now is the dangerous time as we lead up to the halving and don't make a mistake here.

This isn't the Bitcoin go, this isn't the ETF going live. New money hasn't come in yet.This is anticipation of new, new money, but will we give those new entrants a great price, a great entry?Maybe, maybe not.I can't predict it. I'm allocated but not over allocated.I'm excited to keep buying throughout 2024.I think that it's going to be a very crazy time for cryptocurrency to potentially establish itself as an asset class that doesn't just follow the stock market during during the good times, but also an asset class that differentiates from the entire economic system that we've known so far.

And that will be a quite exciting revelation because if that happens, we haven't seen it happen.

But if that happens, the targets for Bitcoin go way up, way up, all your wildest dreams type targets.If Bitcoin pumps while everything else is dumping, that becomes the safe haven asset.The safe haven narrative that we've always, always looked for. Bey

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Ishfaq_Khan
Ishfaq_Khan

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