Take a look at the gold price chart. Since the 1st gold spot ETF was approved, the gold price gained more than 400% profit. It's not a coincidence. The meaning of approving something spot ETFs is that tons of capitals flow into something spot ETFs.
So, I think the BTC price will surge since the BTC spot ETFs are approved. Now, the BTC price is around $26k. So, when they are approved, it's possible for BTC to overpass $100k which most coin investors wish.
Before approving BTC spot ETFs, many FUDs will turn out. Furthermore, the BTC price will move like a roller-coaster. Many crypto newbies will be in despair. However, All of us know the fundamentals of BTC has been strong. Take a look at forests.
I am not an expert in cryptocurrency, but it seems to me and I even feel that the digital currency Bitcoin will strengthen and grow, and many countries at the state level recognize this digital asset. The fact is that it is convenient to pay with cryptocurrency, and to make any financial transactions. It takes a little time, progressive humanity will understand even more the usefulness and necessity of a new monetary unit called Bitcoin. This is my opinion, although I could be wrong. Thank you so much for your inspiring and objective post. Good luck sir.
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Thank you for sharing your thoughts and insights!
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Hey happycapital,
Wow, your post really got me thinking! The comparison with the gold spot ETF is a fascinating angle. I remember when I first dabbled in crypto, the volatility nearly gave me a heart attack. 😅 But like you said, the fundamentals of BTC have always been strong.
I can't help but recall the recent buzz around El Salvador adopting Bitcoin as legal tender. It's like a real-world experiment that could either validate or challenge the points you've made. What are your thoughts on that?
Your post also reminded me of the first time I invested in a volatile stock. The ups and downs were like a roller coaster, but in the end, it was the fundamentals that mattered. The smell of freshly printed stock charts and the sound of market bells still give me a sense of nostalgia.
I do have one question: Do you think the approval of BTC spot ETFs could lead to more regulatory scrutiny? It's a double-edged sword, isn't it?
Keep up the great work! Looking forward to your next insightful post.
Cheers! 🍻
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First of all, thank you for reading my post and leaving a nice comment!
Adopting as a legal tender in El Salvador is just beginning. Many developing countries would join the row.
Well, if BTC spot ETF is approved, the crypto market will encounter more regulation, and needs the clarity.
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I'm not sure if the Fed will approve the Bitcoin ETF, but it's possible
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I think it's only a matter of time
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Upvoted! Thank you for supporting witness @jswit.
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Your post has been rewarded by the Seven Team.
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