It is mostly pulled up by rumors about the imminent approval of bitcoin-ETFs. The largest investment companies in the world have applied for these funds. For example, BlackRock, which manages $10 trillion. In general, a spot bitcoin ETF is very much awaited in the crypto world: it will help increase liquidity, trust and availability in the market.
However, so far there is none of this. The SEC (US Securities and Exchange Commission) is rejecting these applications so far. So why is it growing?
Perhaps the market senses the near approval of ETFs. For example, yesterday it was reported that BlackRock registered its spot Bitcoin-ETF with the DTCC, i.e. the depository.
This is a key step before its official launch to the market: it is assumed that BlackRock has started accumulating Bitcoin, i.e. it is preparing for the launch of the fund. It turns out that Bitcoin is once again growing on rumors. And BlackRock, having not launched anything yet, is letting people earn money now.
At the same time, the bitcoin bull cycle is already planned, and the spot Bitcoin-ETF will only add fuel to the growth, as more money will enter the crypto through it.
So what do we do?
- accumulate Bitcoin at any price while the world is changing - YES!
- buy it because it is growing now - NO!
After all, the reason for growth is short-term and the market is volatile. And it's certainly not worth trading.
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