In any case, ETFs are simply normal funding merchandise, not manna despatched from heaven. As soon as individuals understand that, we’d see a gradual uptick in demand and worth motion for bitcoin, however not a flood of all-time-high milestones. Gold, if you check, didn’t immediately change into a mainstream funding; it took years. And, it’s more likely to be the identical with bitcoin.
Nonetheless, the hype across the ETF announcement reveals how many individuals on the market need a optimistic narrative to maneuver bitcoin increased. That, fairly than the precise impression of ETFs, often is the vital level right here. Regardless of the fundamentals, there’s big demand for optimistic information in crypto after the falls, crashes and scandals of the final 18 months.
