Topic: Wow, Bitcoin is set to BOOM (why? Mtgox collapse --> Regulation --> ETF ---> (Read 741 times)
January 19, 2024, 12:34:36 AM
I just joined this community and saw this post. Though it is already been for 10 years, but SEC just approved Bitcoin ETF last week. It took them long enough.
March 03, 2014, 01:07:08 AM
With Mtgox's collapse, bitcoin demands regulation, to protect investors.
This will lead to being overseen probably by the SEC.
Winklevoss' are already trying to make an ETF, and I'm sure others are.
Now it can be done as it's encouraged, again to protect US investors.
And here's the beautiful thing-
When an ETF is born, it is a VERY POWERFUL driver for the market price of a commodity
The same way silver and gold have been manipulated down in recent years, the price of Bitcoin can powerfully pushed up with an ETF, how? Because insitutional investors and the like will come to the ETF to invest, and thus constantly pushing up the ETF price (as opposed to the bitcoin price on the open market), this however puts upward pressure on all of the other exchange prices.
Say hello to our next bubble to be.
And the winners at large this time will be- you guessed it- alternate currencies. (like Dogecoin)
This will lead to being overseen probably by the SEC.
Winklevoss' are already trying to make an ETF, and I'm sure others are.
Now it can be done as it's encouraged, again to protect US investors.
And here's the beautiful thing-
When an ETF is born, it is a VERY POWERFUL driver for the market price of a commodity
The same way silver and gold have been manipulated down in recent years, the price of Bitcoin can powerfully pushed up with an ETF, how? Because insitutional investors and the like will come to the ETF to invest, and thus constantly pushing up the ETF price (as opposed to the bitcoin price on the open market), this however puts upward pressure on all of the other exchange prices.
Say hello to our next bubble to be.
And the winners at large this time will be- you guessed it- alternate currencies. (like Dogecoin)
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