The audio quality sucks I know, I'm staying with family and the regular schedule resumes tomorrow. Thanks for bearing with me!
So much has gone on in the markets lately. The SEC denied the Winklevoss' BAT Exchange's application for a bitcoin ETF, citing instability and unregulated aspects as well as price manipulation. A SEC Comissioner Hester Pierce publicly disapproved of the rejection citing stalling of innovation and reddit was quick to show their support, announcing her as Crypto Mom. Her twitter has blown up, and it's largely known now that the media publications took the rejection and ran with it, spinning a possible bitcoin price of 5k once again; the fud was spread and damage was done, causing some weak hands to sell at 8k+ causing bitcoin to drop to 7,900 - then quickly was brought up past 8k solidifying the passing of this rejection and a hopeful resume of bullish activity.
The Takeaway from this is: Winklevoss' ETF was expected to be denied, CBOE is quite different (retail vs institutional investors) and that no one is certain even the CBOE will get it. Presumably it doesn't happen this year and we look towards more retail driven rallies.
Could Cryptocurrency be bearish for another 6months? It could. Is that likely? No, but no one knows the future in this emerging space.
Comment below and let me know your thoughts!
Also beware of desperate publications reusing old stories for added FOMO and clicks... Learn to trust certain publications and always double check your information across multiple sources.
Doing your own research has never been more important.
With Bitcoin (BTC) Futures in play by CME and CBOE there are analysts saying that's the reason for BTC prices to drop and that we might never see extended bubbles like late 2017. I doubt that is the case, but so far this year has not been good.
With so much talk of Bull Run's and Lambo's it gets kind of sickening to hear whilst everything is TANKING. Some think it's ridiculous and they're not wrong. Experts and Shills alike all think Bitcoin (BTC) is the next big thing. That if FinTech (Financial Technology) really catches on - and why shouldn't it - it is after all far more efficient to run things on a blockchain. The benefits of a consensus algorithym is plentiful, and current applications are making headway in large multi-billion dollar industries. It is just going to take time. Along with that, comes the idea that institutional investors will come with their ETFs, Pensions, and large amounts of capital to help bolster up this market. The past few months many who once toted themselves as pioneers are found questioning the very existence of life, being put on suicide watch, etc
Please, if you are feeling those feelings know there is always someone you can talk too.
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*** The content seen on this channel is not financial advice, always do your own research (DYOR) and invest wisely. I immerse myself in these markets every day to bring you the relevant news as it happens, and am providing insight that should be considered my opinion! Happy investing everyone!