Feed

Why the upcoming Bitcoin futures ETF may not be good news for retail investors

The time has finally come — the U.S. Securities and Exchange Commission (SEC) has finally approved the first Bitcoin ETF — albeit for futures and not a spot traded fund.

Some say this is good news, especially from a mainstream acceptance perspective. But others disagree, specifying a shift of power to Wall Street and the possibility it could trigger a sell-off event.

What’s the hold-up with Bitcoin ETFs?

According to the popular Bitcoin Twitter account @DocumentingBitcoin, financial services providers have been trying to get a Bitcoin ETF approved in the U.S since 2013.

So far, every application has been denied by the regulator. An often-cited reason is the agency’s concern that some crypto exchanges are “cooking the books” with fake spot trading. Therefore a Bitcoin ETF would be hugely manipulated.

However, in the recent past, SEC Commissioner Hester Pierce has gone on record to say this way of thinking is no longer relevant. She expanded by saying that institutional participation has made great strides in establishing this market during the present time.

“So, I think the markets have matured quite a bit.”

Fast forward to late summer, and SEC Chair Gensler began signaling his openness to the idea of a Bitcoin ETF. But under the proviso of tough compliance requirements.

Today, Bloomberg said the SEC is likely to greenlight Bitcoin ETF trading as early as next week.

Buy the rumor, sell the news

If true, a U.S Bitcoin EFT would be defining moment in the history of cryptocurrency.

But on-chain analyst Willy Woo isn’t so keen on the idea.

Feed

Why is this could be a ‘decent time’ for Bitcoin investors to take profit

Increased demand from institutional, corporate, and more recently retail investors has powered Bitcoin’s surge this year. Some investors view bitcoin as a hedge against inflation amid enormous monetary stimulus. Furthermore, different analysts have put forward their bullish projection for BT, several of which constitute Bitcoin reaching $100k by the end of this year. However, market […]

Feed

Will XRP offer value to its investors in the long-run

XRP’s price hasn’t been that volatile of late. The market massively pumped over the last couple of days, but this token, unlike the rest, shed value. While the top 3 coins [BTC, ETH and BNB] witnessed over 10% weekly pumps, XRP dunked by over 5% in the same timeframe. The state of XRP’s on-chain metrics […]

Feed

Is Solana the Fastest Horse? Veteran Crypto Trader Shows Why SOL May Be Set to Outperform Everything

A closely followed trader suggests that smart contract platform Solana (SOL) might be the fastest horse in the crypto bull market.

The trader known as Cantering Clark shares with his 76,000 followers a snapshot of a collection of different cryptos throughout the day.

 

He notes that even while Bitcoin was receiving all of the attention during its rally past $60,000, SOL quietly outperformed the rest of the market.

“There are so many reasons to have been long SOL to this point. Are you seeing the trend yet? Even on a day where Bitcoin is the main show, Sol is outperforming. Fast horse.”

Image
Source: Cantering Clark/Twitter

Looking at Bitcoin and the crypto markets in general, the trader says he’s keeping his outlook simple. He sees the upcoming launch of a Bitcoin exchange-traded fund (ETF) as a bullish catalyst that should send prices higher.

“How many people are going to get long as hell thinking each confirmation is going to yield a higher result?

I believe in the inefficiency of this market.

ETF = ATH”

According to Canterin Clark, Bitcoin will take the lion’s share of capital flows moving into the near term. He says he expects altcoins to underperform compared to BTC.

“If you think Bitcoin is going to break the ATH soon and you are also positioned heavily in alts, maybe rethink that…

Because when Bitcoin breaks the ATH alts are going to get cut down. So yes, the post absolutely makes sense.”

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 

Feed

This photographer is celebrating Stephen Hawking by minting an NFT of his most famous photo

Art is ever-changing. Styles, color palettes, and different types of media can fall in and out of favor. But as adaptable and ever-changing as it may be, one thing remains constant — art is about challenging, changing, and shifting the perspective of the viewer.

Many believe that NFTs are opening a whole new world of artistic accessibility and NFTs are no longer just a novelty. The unique format allows for both exclusivity and universal sharing. And now, famous artists and photographers are entering the NFT space.

One notable example recently came to market: “Stephen Hawking” by professional photographer David Gamble.

“Stephen Hawking”: A Pivotal Portrait

Hindsight is 20/20. When Time Magazine asked British-American photographer David Gamble to photograph Stephen Hawking in 1988, no one could have predicted how instrumental and influential the photograph would become.

That same year of the photograph’s publication, Hawking asked Gamble if the photograph could be used on an upcoming book cover.

That would be the book that shot Hawking to fame. His seminal work, A Brief History of Time, would go on to sell millions of copies around the world.

To consider the full impact of the photograph, it’s also important to consider what was going on in the art world.

It was the same year that Damien Hirst and fellow Goldsmiths students organized a pivotal show called Freeze, which would go on to launch the careers of many British artists, including Gary Hume, Michael Landy, and Sarah Lucas.

People were receptive to new ideas, concepts, and ways of thinking.

Stephen Hawking captured this sense of excitement, newness, and daring.

Stephen Hawking was afflicted with a particularly severe case

Feed

What Ethereum needs for a push above $4000

The top altcoin, for the last couple of days, seems to be teasing the market with hopes of a move above $4000. However, the same has not been breached yet. With Bitcoin above $60K though the anticipation from Ethereum’s price has soared too. As Ethereum oscillated close to $3900 here’s how the coin’s trajectory upward […]

PHP Code Snippets Powered By : XYZScripts.com

New Report

Close

x Logo: Shield Security
This Site Is Protected By
Shield Security