Hello friends, there are only two days left until Wednesday when almost everyone is waiting for the United States Exchange Commission to approve the bitcoin ETFs and the analysts say that everything is ready, the final applications have already been sent and they even say that Black Rock has 2 millions of dollars ready to buy.
But there is also something strange that almost no one talks about and that is that if we do the math in the entire crypto market there are almost eight hundred times more than these 2,000 million that BlackRock plans to invest, so I think that historical maximums are not yet expected after the approval of bitcoin spot ETFs.
| But then why is everyone expecting such a big rise? |
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The truth is because the United States is not the only country that is advancing with crypto, large investments could also come in from all over the world, in fact, and I want to use China as an example because in Hong Kong not only have they already approved crypto with licenses and so on. But now its own government is asking investors to submit applications for spot ETFs not only for bitcoin but for any crypto they want, which sounds like very good news.
But let's start with some breaking news because for weeks now the firms that submitted applications for the ETFs such as Black Rock, GrayScale among others had been submitting modifications because the SEC had been asking them to, but since Friday well-known analysts such as Eric Balchunas from Bloomberg expected the final versions to be presented today, Monday.
Today, Monday, January 8, these final applications were already submitted and it has been reflected in the price of bitcoin, which has managed to reach $47,000 and now we only have to wait for the SEC to decide whether they will only approve some ETFs or not approve any, but It is rumored that they will be approved all together on Wednesday because it is the deadline for approval.
But while we wait, several things have already happened that are very important. First, the stock exchange commission, the SEC, published on Twitter a warning to United States investors not to They must carry the fomo although they do not specifically mention BTC as a reference but the community knows that the SEC referred to the crypto market.
Many on social media think that this is a sign that the SEC is going to test the ETFs and that it is trying to warn investors to be very careful and the second is that BlackRock plans to invest $2 billion the first week they are approved the bitcoin etfs in cash and let's see this is not its own money but Black Rock simply asked its clients if they wanted to invest in btc and their clients confirmed positively.
The sum of 2,000 million is a great initiative on the part of BlackRock and without a doubt it is great news because it confirms that they are indeed waiting to have their own bitcoin ETF to offer their clients to inject a large amount of capital into it.
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It'll be interesting to see what happens. There's a common trading phrase of "buy on rumour, sell on news" so it wouldn't be surprising if a positive announcement comes and the price drops. Long term though, this can only be positive for Bitcoin, especially with the forthcoming halving event which tends to drive the price up too 🤞
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Yes friend, incredibly yesterday the SEC announced the approval of the bitcoin ETFs through its Twitter account and the price of bitcoin reacted positively but in a matter of minute the SEC deleted the publication and the price plummeted from 48k to 45.5 k. So what is the SEC playing at? Why do you give so much thought to the matter? If in the end they will end up approving bitcoin etfs.
I read the announcement just 2 minutes after the SEC published it. I immediately went to see the price of bitcoin and a beautiful green candle was shown when I went to take a screenshot of the announcement. The SEC had already deleted it.
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They said that their Twitter account had been compromised (i.e. hacked) but I'm not convinced. I think somebody tried to schedule a Tweet and got it all wrong.
I'm surprised that the price reacted how it has though. Then again, it's possible that if it was a hack, they were able to successfully pump the price briefly which they sold into 🤷
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I think the same thing was that it was a programming error, the approval should have been given today, which is why the tweet was brought forward a day earlier than expected. The approval of the ETFs is inevitable since the SEC has pressure from the government and many senators want Gary Gensler's head for his mismanagement.
What I can guarantee you is that today there is a strong movement in the price of bitcoin, so you have to pay attention to the official SEC account on Twitter, although it is a shame that this affects the price of steem a little since a lot of capital would leave the market destined for bitcoin.
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I don't think the approval is guaranteed - there's still an element of risk there - but it's certainly more probable than at any point in Bitcoin's history. Which can only be good for existing investors in the long-term.
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https://twitter.com/joel_jai1/status/1744483725885218927
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@tipu curate
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Upvoted 👌 (Mana: 5/7) Get profit votes with @tipU :)
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Dear @joeljaimes1982 ,
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We all expect this news to be favourable to bitcoin but let's watch how it turns out
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