Bitcoin Zooms
Looming ETF approval and wider economic concerns prompt flight to digital assets
After a few gloomy, boring, and desolate months—some light for those who remain invested in digital assets.
Bitcoin zoomed over the weekend, heading close to $30,000 and increasing more than 4% in price over a 24-hour period.
Part of that comes from investor hopes that a long-awaited Bitcoin spot ETF will finally receive SEC approval.
So far, it hasn’t officially happened, although plenty of rumors about it abound. Indeed, most of the big movers and shakers in the sector got taken in by rumors Monday morning.
Still, the movement proves one thing—the market badly wants a spot ETF. There are plenty of reasons why, not the least of which is the fact that a spot ETF will bring more small investors to Bitcoin.
It will also create legitimacy for digital assets.
But it hasn’t happened yet.
So… keep stacking, keep holding, and remember—trust but verify.
Plus…
The Crypto Connection is for entertainment purposes only and is not meant to be financial advice. Please do your own research before investing in any asset class. Sara Celi is not a financial advisor and holds several cryptocurrencies. To purchase her books on Amazon, please click here.