Bitcoin canada ETF approved spot etf explained

Lucius

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Quote from: Voxo2222 on December 03, 2021, 02:54:24 AM

Canada spot ETF meaning the investors can buy spot the actual cryptocurrency.
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We will see about 1 month bullish market as the spot ETF investors definately will drive up the prices.

You have at least one big problem in this whole story, and that is that this ETF is based in Canada. The only physically based BTC ETF that could have a significant impact on the price of Bitcoin is one that has not yet happened, and the venue is the US. To be honest, the US is the center of the world when it comes to Bitcoin, unless someone thinks that Coinbase, Gemini, MicroStrategy, Grayscale, and many other lesser-known companies do not play a significant role when it comes to global influence on cryptocurrencies.

mk4

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A spot ETF being approved is definitely bullish, but this is the part where I may disagree:

Quote from: Voxo2222 on December 03, 2021, 02:54:24 AM

We will see about 1 month bullish market as the spot ETF investors definately will drive up the prices.

We really don't know how soon or how far into the future do we feel the effects of this approval. And the fact is, no matter how bullish this is, if in the end of the day there will be more sellers, then bitcoin's price could easily go the other way(down).

Voxo2222

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Canada spot ETF meaning the investors can buy spot the actual cryptocurrency.

As so far been only approved ETF futures now once ETF are launched investors of this one can not bet on price on long or short.
They can only buy on spot wich means the buying pressure will increase the demand and shrink supply.

What i do think its bullish for bitcoin.
And definately im not the only one who have same opinion about this situation.

We will see about 1 month bullish market as the spot ETF investors definately will drive up the prices.

If it would have been ETF futures like before then we would expecting roller coaster...up and downs... as futures ETF are just bets on the prices long and short.

The first ETF SPOT APPROVAL is bullish sign for less volatility and limited downside moves.
Likely at least the time the ETF investors will start buying it and law of supply and demand....the demand will drive btc price up for some time we are going to see some steady upward movement.

I hope you like this little market analyse

Btw...anyone who knows about finances and instutions im sure they have same toughts.

Topic: Bitcoin canada ETF approved spot etf explained (Read 151 times)