Hi, My Friends,
So After reading this article I would like to know your my personal opinion on what you think can ETF Approval push bitcoin to $60000 in 2018 or not?
So why we are waiting here let's begin to understand how to this works
Do you have to know first the term of the "What Is ETF? "
Let me explain ETF means exchange-traded fund where investment funds are traded on stock exchanges in a different index .
And the most important thing is-
Why is it so significant in crypto?
In Our cryptocurrency market has about 230 to 240 Billion market cap and price of bitcoin is $60000 at this market cap and we all know our market near to the 800 Billion market cap in the last year-end and that time bitcoin went to $19500 So its very simple calculation if we want to see our bitcoin at $60000 then total market cap must is about 3 trillion which can only happen if Bitcoin ETF get approved by SEC. As it will result in the flood of money into the cryptocurrency when traders will be able to trade with the single click from their brokerage account to buy sell bitcoin into the market.
The biggest reason to Why Bitcoin ETF Is Not Approved Yet?
do u know about that,
1: SEC has shown concern for the investor's money in case of hacks, and much other reason to lose so, what will be happened if any of miss for investors fund? And then for that CBOE has stated that it has secured insurance for the investors and that means the second hurdle which was for ETF approval has also been removed that time to time around.
Do you think it will see it getting approved this time around?
In this competition of global regulatory rules which surround by the crypto and cryptocurrency exchanges and we all know Japan and South Korea and the near to bigger countries to major countries which deal maximum in crypto and they had no regulations earlier but now both have regulation done for there replacements and have regulation for crypto accepted. So one of the major hurdles is already cleared by now.
Do you think we will see bitcoin to reach near to $60000 in 2018?
whats your opinion comment on down
I will explain as possible in next video or article
thank to read this article!!!