Too Long; Didn't Read
The last few months’ momentum in Bitcoin’s price has primarily been driven by the expectations of the first Bitcoin spot ETF approval.
Since Bloomberg’S analysts suggested a 99% probability of approval, everyone slammed the buy button and both sentiments and valuations began a very rapid ascent upwards.
Since 2017 when I saw the first ETF get rejected by the SEC, I have been very negative on the prospects of one getting approved.
However, this time around, there’re many signals pointing towards a positive outcome.