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Many members of the crypto community see the potential for further growth of BTC.
The most capitalized cryptocurrency – bitcoin – has started a new working week with growth. As of 07:20 (Moscow time), the digital asset is trading at $62,086. The cryptocurrency has approached the absolute maximum, which was registered at $64,863 (April 14, 2021).
The cryptocurrency has grown amid news about the imminent launch of an exchange-traded fund (ETF) based on cryptocurrencies in the United States. The authors of the first application approved by American regulators for the creation of a financial instrument were representatives of ProShares. The launch of their exchange-traded crypto fund Bitcoin Strategy ETF is scheduled for October 18. The financial instrument will appear on the NYSE New York Stock Exchange under the ticker BITO.
Participants of the American crypto community and market representatives, including ProShares, have been waiting for the launch of such a financial instrument for several years.
At the same time, news began to appear on the network about the imminent approval by the Securities and Exchange Commission (SEC) of other applications for launching ETFs based on cryptocurrencies. In particular, the Valkyrie team may receive permission in the near future. A publication appeared on the SEC website, according to which the commissioners approved the listing of the instrument on Nasdaq.
The impact of the launch of a crypto-ETF on the market
Many members of the crypto community believe that the SEC’s positive decision on an ETF based on cryptocurrencies can be an impetus for updating bitcoin highs. This point of view, among other things, is held by the analyst PlanB. According to the signals of the S2F forecasting model developed by him, during 2021 bitcoin can break through the level of $ 100 thousand.
The analyst, a leading microblog under the nickname Inmortal, believes that the positive influence of the news background will allow the cryptocurrency to reach the level of $ 80 thousand in the near future.
The participants of the crypto community drew attention to a significant increase in investors focused on the long-term retention of cryptocurrencies. The positive dynamics of the indicator may support the movement of the BTC exchange rate. The fact is that the larger the designated group of investors, the lower the probability of panic sales. Analyst Willy Wu believes that the positive dynamics of the indicator suggests that “2022 will be a good year” for the crypto market.
An analyst leading a microblog under the nickname Mr. Whale disagrees with the opinion that the launch of a crypto-ETF will positively affect the position of bitcoin. He believes that in 2022 BTC will again cost less than $ 10 thousand.
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