The calm before the storm. ” THE Bitcoin ETFs are just going to be used manipulate the crypto market by creating paper bitcoins”. “Wall Street will corrupt our beautiful project and BlackRock will buy all the bitcoins to resell them to us at a higher price”. “With ETFs, Bitcoin will reach the million dollars in a few years”. All these reflections, you have of course already read or heard them, because they have been circulating on social networks since major players in the traditional finance have filed with the SEC for some Bitcoin ETFs said spot. But it must be recognized that no one has a crystal ball to know exactly when and what will be accepted, nor what will be the effects on the market and on the price of Bitcoin.
However, a number ofinformed observers are considering a positive reaction of the price of cryptos to such news. And this is the case of the Research section of K33, the Danish crypto-asset investment specialist. In its latest report, these experts are even extremely bullish for the months to come. Attention ! This is not investment advice, just the view of a team of experts who might as well be wrong. Here is their take on things!
Future Undervalued Bitcoin ETF Approvals…
In the document they published a few days ago, Vetle LundeK33’s lead analyst, and Anders Helsethits vice-president, come to the following conclusion:
“The market appears to be undervaluing the potential of US spot Bitcoin ETFs. The approval of such an ETF should trigger a huge influx of money which will create substantial buying pressure on Bitcoin. »
The Danes go on to explain that the crypto market tends to disregard good news. For them, these are currently the buyers Who should take overand prices should have already risen substantially after the various announcements of recent weeks.
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… as a massive influx of financial flows prepares
They first talk about the grayscale victory against the SEC, but also of thestudy of Bloomberg who said that ETFs had 75% chance of being validated by Gary Gensler’s teams. In view of all this, the company of Torbjørn Bull Jenssenbased in Oslo, puts both feet in the dish and even dares to make the following statement:
“We strongly believe the market is wrong. This is, for us, a buyer’s market and it is unwise not to aggressively accumulate BTC at current levels. »
The trend could even “change in the blink of an eye”, again according to K33, and also concern the dolphin of Bitcoin. Indeed, Ether (ETH) could outperform BTC thanks to various ETFs that concern it. But what will happen if these famous ETFs are refused or sent back indefinitely?
“A possible rejection of the spot ETF would be negligible, and the price of Bitcoin would simply continue to move as usual. »
K33
THE K33 researchers are therefore particularly confident on a resumption of bull run in the coming months, which would be pushed by ETFs that the SEC will eventually approve. On our side, we have to be a little more careful and we cannot take this kind of statement as gospel. As usual, it is up to everyone to do their own research and invest only a reasonable share of its capital in the market oh how much capricious and volatile cryptocurrencies.
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