Jump to content
Sign in to follow this  

Bitcoin ETF + Positive Regulation - Only a matter of time

Recommended Posts

It seems to me that it is merely on a matter of time before we see Bitcoin ETF's. This coupled with announcements from the likes of India and US in relation to positive regulation could see Bitcoin skyrocket.

If Bitcoin can hit $20,000 without any institutional money then just imagine if Bitcoin ETF's are approved and there is positive regulation around the world then what this could do to the price of Bitcoin?

What do people think?

Share this post


Link to post

Crypto Really (Really) Wants a Bitcoin ETF

https://www.coindesk.com/crypto-really-really-wants-a-bitcoin-etf/

Both regulation and Bitcoin ETF is coming.

However I have invested in both Bitcoin and Ethereum using XBT Provider which is an ETF of sorts based in Sweden. The Bitcoin ETF shouts are coming more from the US as Sweden were far ahead on this one.

Share this post


Link to post

Remember when the FCA consultation had 14,000 replies from the public and something mad like98% were against their proposals but they still went thru... 

yeh - “feedback” and comments such as those listed in the article is more a phycological thing to let people think they’re having an impact. 

Interesting article but let’s be honest... it’s as useful as a peaceful protest

Share this post


Link to post

@PandaFace,

If a Bitcoin ETF is approved in the US then it would mean that investors would be able to invest in Bitcoin without having to deal with all the exchanges. 

There is an unconfirmed and I repeat unconfirmed report by the ICO Journal last week suggesting a Bitcoin ETC was likely to get approved. From memory the website reported two sources with one of them being at the SEC and the other being at the US Commodity Futures Trading Commission (CFTC). 

Apparently this decision is expected around 15th August 2018. If this happens and it is an if then I expect Bitcoin to clear $10k. 

Share this post


Link to post

It seems the rally in Bitcoin at the moment is in anticipation of the US approving a Bitcoin ETF. 

The smart money gets in early and well before the US makes a decision either way. As the price of Bitcoin goes up until the decision is made the smart money will come out with a profit as if the decision is that an ETF is not approved then they will simply close their long positions and then short Bitcoin. They will make money on the way up and on any way down.

Share this post


Link to post

@PandaFace, for something that was a bubble and was a fraud that was going to zero, Bitcoin, seems to be holding up rather well. Now it could still crash down to $5,000 levels.

This is Bitcoin which operates in the Cryptocurrency Universe which is as higher risk as they come from a trading perspective. 

A trading idea could be to go long Bitcoin and then short one of the other cryptos that is not going up as high (if they are all going up). The two that come to mind at Bitcoin Gold or Litecoin. Maybe even Ripple. Shorting Ether would be a risk at this stage and Bitcoin Cash may still have some legs. 

Share this post


Link to post

@cryptotrader, I am not sure what point you are trying to make but most who follow trend following principles will buy as the price is rising or short as the price is declining.

Share this post


Link to post

Thanks @Caseynotes. I am out of the country for a month hence limited responses and posts from me but I return back to the U.K. at the end of August and normal service will resume!

In my personal opinion a Bitcoin ETF will happen in the US. Have a look at XBT Provider which already provides Bitcoin and Ether trackers and is based in Sweden.

Edited by TrendFollower
  • Like 1

Share this post


Link to post

There is this big myth that there are no Bitcoin ETF's.

From what I understand US clients invest in Bitcoin ETF's via Sweeden's XBT Provider Bitcoin and Ether ETF's. They exist but just not listed in the US though I think that has changed or is about to change. I may be wrong so someone will need to check but I think foreign registered Bitcoin ETF's could be listing in the US.

Share this post


Link to post

Still no joy for a US listed Bitcoin ETF but it does not seem to be making much difference to the price action for Bitcoin. Imagine how the price will react when one does finally get approved!

SEC Again Delays Decision on Bitwise Bitcoin ETF Approval

https://www.coindesk.com/sec-again-delays-decision-on-bitwise-bitcoin-etf-approval

There is always the Bitcoin Investment Trust which is available to invest by UK investors using UK broker platforms. There is also the XBT Provider One products (based in Sweden) but available on certain UK broker platforms which I personally invest in. They are an Exchange Traded Product (ETP) and very similar (not the same) as an Bitcoin ETF. 

Share this post


Link to post

Japan to Provide G20 With Solution for Crypto Regulation

https://news.bitcoin.com/japan-g20-cryptocurrency-regulation/

France Adopts New Crypto Regulation

https://news.bitcoin.com/france-cryptocurrency-regulation/

This next bit is crucial to understanding where countries are in the adoption and acceptance of Bitcoin.

Legality of bitcoin by country or territory

https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

Share this post


Link to post

Regulation is being adopted across the globe. Yes, it is slow and there are still some counties which have not embraced this yet. India is one of them who are missing out as other countries have an advantage over them in relation to creating a framework and environment for Blockchain and Cryptocurrencies. 

Share this post


Link to post

This is where in my opinion, India, are making a mistake. They will get left behind and it will too difficult for them to catch up or ever become a world leader in this area.

Reserve Bank of India Urged to Reconsider Banning Crypto From Regulatory Sandbox

https://cointelegraph.com/news/reserve-bank-of-india-urged-to-reconsider-banning-crypto-from-regulatory-sandbox

Due to the large population, increasing amount of educated middle class and higher middle class, India, can be a driving force for Blockchain and Cryptocurrencies going forwards.

Share this post


Link to post

Certain states within the US are very pro Bitcoin and Cryptocurrencies and have embraced Blockchain technology. 

Taxing Cryptocurrencies could be perceived as a positive step towards legitimising and potentially regulating Cryptocurrencies.

IRS Says It Will ‘Soon’ Issue Crypto Tax Guidance in First Since 2014

https://www.coindesk.com/irs-says-it-will-soon-issue-crypto-tax-guidance-in-first-since-2014

Share this post


Link to post

Japan trying to push through new Crypto regulation. If reports are correct then Japan really has led the world and embraced Blockchain which is the technology underpinning Cryptocurrenices.

Japanese Parliament Moves New Crypto Regulations to the Upper House

https://cointelegraph.com/news/japanese-parliament-moves-new-crypto-regulations-to-the-upper-house

 

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Member Statistics

    • Total Topics
      7,879
    • Total Posts
      41,766
    • Total Members
      52,013
    Newest Member
    trader12341
    Joined 15/12/19 04:38
  • Posts

    • I think those swings were tradeable with a reduced position size on the Nikkei which tends to respect weekly pivots during European and American trading hours.
    • @dmedin, I don't know the answer but there may be others on the IG Community that are more knowledgable than me or even use EWT both successfully and are hugely profitable applying it. They may be aware of certain assets where the probabilities of using EWT are in their favour due to confirmed historical evidence. There may well be evidence that certain assets adhere to EWT more than others on a historical basis. Of course that does not guarantee that the assets will do so in the future but it just increases the odds and the likelihood of it occurring again.  Just because I don't have the knowledge or evidence does not mean such assets do not exist where the application of EWT would be greatly increase your chances of successful and profitable trades. I personally do not use or apply EWT to my trading and it has not hindered me. I would be interested in knowing which assets adhere to EWT more than others and what the percentages are. For example are there any assets which adhere to EWT historically over 70%? Let us put Natural Gas to one side for the moment as I personally think due to the extreme volatility you would have to be a supreme EWT technician to be able to consistently make profitable trades on Natural Gas using EWT. If you put NG to one side then are there any other assets which say adhere to EWT historically from say 50% - 70% of the time? I do not know the answer but if anyone does know then it would be very interesting and helpful to the IG Community, especially for those who are genuinely interested in EWT and applying it to their trading.  Also for those assets which say do adhere to EWT over 50% of the time how does a trader know that it will so on the next trend, next move up or down, etc? How does one establish apart from a failed trade after the event on whether the asset is going to adhere to EWT?
    • S&P has tested that trend line and is now blasting into outer space.  🥳
×
×