The Unthinkable Crypto Cycle is About to Come – Gareth Soloway
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In this video, we’ll dive deep into the latest news in Bitcoin, dollarization, and investments.
The cryptocurrency market took a dip, with Bitcoin slipping below $25,900. Ethereum also had a rough day, falling below $1,650. The big concern is Bitcoin’s approaching “death cross,” where its 50-day Simple Moving Average (SMA) could dip below its 200-day SMA—a bearish sign according to the CoinDCX Research Team.
The world of cryptocurrency exchange-traded funds (ETFs) is heating up, and a significant development is on the horizon. The U.S. Securities and Exchange Commission (SEC) is currently evaluating the possibility of approving the first-ever spot Bitcoin ETF. Expected to debut by early 2024, these spot ETFs could bring a wave of disruption to the cryptocurrency ETF landscape. Presently, most U.S. fund investors gain exposure to cryptocurrencies through products linked to Bitcoin futures contracts. While these futures-based ETFs made a splash when they launched in October 2021, their momentum has since slowed, and their collective market value has stabilized at around $1 billion.
Enter the spot ETFs, which many believe could offer a superior product. These ETFs are expected to track Bitcoin’s price in real-time and potentially come with lower costs compared to their futures-based counterparts. This shift could attract new investments, particularly from those looking to hold cryptocurrency over longer periods. With more efficient pricing and lower fees, spot ETFs could soon become the go-to choice for cryptocurrency investors. However, this potential shift isn’t without its challenges. As the cryptocurrency ETF landscape becomes increasingly competitive, issuers are likely to engage in fee wars, aiming to provide investors with the best value. This development could also lead to a redistribution of trading activity and liquidity, potentially away from U.S. Bitcoin futures markets.
So, as the cryptocurrency world continues to evolve, keep an eye out for these exciting changes in the ETF space.
let’s continue our discussion with Gareth Soloway.
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#Crypto #Bitcoin #Cryptocurrency
