Bursting through the 10,000 mark would signal a very bullish scenario ushering a new bull market that we have never seen before and could save us from watching John from eating his balls on national television:
Spit up my coffee on that one, lol.
Not sure what the implications of a Bitcoin ETF would be, as I do nto have a grasp on the nature of ETF's. If it wouldn't be to complicated, could you in a few sentences explain how this would benefit Bitcoin other than respectability?
Hope your coffee wasn't too hot. Two reasons - (1) inflow of more money from institutional investors and, (2) positive sentiment regarding regulation from the SEC.
The first bitcoin futures launched in Dec 2017 put over 10 billion of institutional money into bitcoin; unfortunately though, bitcoin was at an ATH at that time and most of that money was used to short bitcoin. Now bitcoin is at the bottom of the correction hence money from the ETF could be used to load up more coins to ride the bull.
The main difference between futures and ETF is that only big players can buy futures because of the size of the contracts. ETF, on the other hand, are like stocks so anyone (small and large investors) can buy into bitcoin at whatever amount.