SHARE THIS VIDEO! I figured I would do some research and share what I found. ETF's ARE NOT QUICK PROCESSES. It's very important that we manage our expectations and consider the FACTS!
WSJ article about ETF process: https://www.wsj.com/articles/here-come-etf-regulations-and-why-the-industry-is-happy-about-it-1488770041
The Hill article about ETF process: http://thehill.com/blogs/pundits-blog/finance/324820-slow-etf-approval-process-must-be-streamlined-by-sec
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I believe a good rule to use with governmental bureaucracy is that it ALWAYS takes longer than expected. So you are spot on and I expect a pull back in Cryptos when everyone realizes the ETF is going to be delayed. Then of course it will eventually be approved and institutional money will flow raising the prices again. Can you "FUD & Whipsaw"? The Bloomberg false announcement is no less than criminal manipulation of public sentiment. Its funny that at the time various bloggers were talking about how Coinbase would explode with new offerings due to the SEC approval, Coinbase itself did NOT advertise or promote any new products or announce any new coins being added to the exchange. I thought that was strange, now we know why.
You are among the most realistic guys out there about what we may be expecting in the near future. Many people are just tired of waiting for the big bull run, and they may tend to let wishful thinking cloud their judgment.
Let's see how it works out, this time the etf is based on the already listed future. If it approves, I don't expect much from it as you can also short it much easier. Maybe higher liquidity which is a good thing
im trading FX since 2008 but only investing in crypto and he main reason for my success is i have a simple trade plan and if nothing matches I wait and watch very patiently but more importantly unemotional what ever happens. When I win I never celebrate and if a bad trade looses I buy something expensive to remind me that cost me the price of the item PLUS the money of the bad trade. A reminder of the the fcuk up!!!
Doc Wicked doesnt come quick and not easy. People I know with money never made it fast. Anyone making fast money will useully loose it all again in crypto at least if trading on margin. Crypto is a HODL not a trading entity due to wild swings unseen in any other markets
What’s you take on xlm white paper ? And the inflationary protocol of the token? I see they supply increases over time which would have a negative affect of the price longer term? I’ve already seen the supply gain since I’ve been in the crypto market.
I'm not concerned...
Just gives us all more time to get in on more at these lower prices.
There's going to be a time when we look back at these prices and wished we would have gotten in so take advantage of the time we have.
On the subject of the ETF - the general tone of the SEC now, for example in recent interviews with Jay Clayton, seems to be a lot more favorable to the Crypto space than before. With CBOE already being a recognized institution, and with the prior ETF attempts now behind us, it does seem quite promising that this ETF will be approved, of course nothing is certain, but you do get the impression we are headed in this general direction. As regards putting it off for another year, again do we really have time for such delay, Crypto systems are needed URGENTLY, there isn't really time to waste, we have a LONG overdue financial "reset" that can trigger at any moment, and we got a lucky escape back in 2008. Money needs to be transfered into the Crypto system NOW, out of the toxic assets, so the Reset button can be pressed.
Stellar, the seventh-largest cryptocurrency network, has become the first digital ledger technology (DLT) protocol to obtain Sharia certification for payments and asset tokenization. Idk if you already know this but here you go
It has been years since people have been trying to institute a Bticoin ETF . Only to be rejected time after time. In your research are you accounting for all the failures before this current application? or are you taking all this account when you say that ETF will not be approved in August or anytime in the near future?
"The existing period of review was set to expire on July 17, 2018; however, under the Cboe Extension, the SEC has now extended its period of review by an additional 60 days until September 15, 2018. The SEC must now either approve or disapprove the proposed rule change by this new deadline"
Hi Kristof and everyone,
Just a quick question:
Am I the only one who is wondering why everyone is talking about approving an ETF in the US, through the SEC and not in another country that may be way more lenient to issue approval for an ETF...?
Banks and hedge funds could startup or buy a company that is located in the country that is more lenient and work from there, right? Or does my thinking flaw somewhere?
Thanks for any insight.
Thanks for the quick response Kristof. Alright, fair point and I can see that.
However if for example an ETF starts here in Europe or in Asia and the Europeans or Asians can start investing in the ETF and set an example, then maybe the US could see it in practice and the obstacles it faces and the work on the approval would be more effienct. Meanwhile the parties who really want to setup the ETF are up and running. This also would let them role out the concept in the US more efficiently, whenever there will be approval.
Thank you once again. Did anyone catch "the great cryptocurrency conspiracy of 2018" By Teeka & Glen, Teeka said he would reveal 3 cryptos in the show. What were they? Great show by the way, wish you all to be fuck you rich with you!
well BTC price action is clearly driven by speculations on ETF approval. and imo this will continue until August 10, and SEC will request for an extension of 45 days and then approve. Meanwhile you can see alts are bleeding even though will BTC stable above 7K they should be mooning now so that's another proof that capital is flowing in BTC based on ETF FOMO... The higher BTC moves, more alts will bleed.....
So Im driving home from work and I asked myself that if an Etf gets approved. Do I have enough Bitcoin? Seriously why do we want this Trillion dollar monsters from Wall Street right now. We can have more time to accumulate and see a healthy market growth. This Billionaires can wait they are always getting richer. So fuck the ETF! For now lmao
I just hate to say it, but if BTC if drop from here, alts will suffer a lot. Most alts didnt take big advange of the btc rally, with the exception of xl ada etc and Bat. Everthing else is down 10-15% from the rally, but BTC is still up there. 5% drop in btc will see alts dropping another 10-15. Even Neo couldnt break its resistance at 40.6. We need btc to break 7850 to save the alts. I love the volitility. As long as the market swing we all can make profit. We dont have to wait for a bull run to make profit.
There was a video that I watched earlier this week from a guy named crypto Kirby. He also mentioned almost the same thing you said about the ETF decision not being finalized on that date. In my opinion I believe they’re going to extend it again. During this time people will still buy BTC to hike the price up in hopes of the ETF being approved. So we should see some good movement in price for BTC in the upcoming weeks. It will have its pull backs and consolidation but I see btc going past 10k by August. Just my opinion... thanks for the research bud!
Lol on the I want to get “fuck you rich” 😂😂😂. Same boat with u. Goal for 2018 / 2019 🚀🚀
Crypto Kirby is a nasty fellow. He spreads major FUD to make Bitcoin price go down so he can capitalize on his short positions. He is a swing trader and couldn't give a rat's behind for Bitcoin or Cryptocurrency in general. He'll make money out of you if you let him.
"F U Rich" is not so good! That's when people have so much money they lose all motivation, and we all know what that does to people. When God grants YOU a lot of money, then the spotlight will be on YOU - what will you do with it? If you become an a55hole then nobody will like you and they will only talk to you because they want some of your money. Read King Solomon's Song "Ecclesiastes" in the Old Testament - every word will tell you what awaits for the rich who think money will solve everything. It most definitely won't. Though I'd like to make money too, its a better world that is what we really need.
Everyone playing TA...lol...
It's not going to work!! ....
It's ether you believe in Bitcoin or not..? If you do buy now ...if you don't ...just forget about it and bet on baseball ....lol
I bealive in Btc and I bought bunch around $6000 and I'm not selling.....beacose I think it will get back to $20,000 and more....
Stop trying to time the market....buy little by little ....and hold!!!!!
OTT2OWN Amen, I'm hoping for a new bottom so I can buy more. When you truly believe in concept it's just a forgiven conclusion. It's just a race to stock up.
When it breaks the previous high and people see the infrastructure that's in place more confident/money will follow.
He again tonight at the event in Texas said IT WILL GET APPROVED IN AUGUST. If it does I will super fucking happy. But I would rather have ALL THE FACTS and manage my expectations versus getting sucked into HOPE. I think we have all faced a lot of disappointment in 2018.
They can actually defer in again 45 days more from August 16 so until Sept 30 ,then a final decision would have to be made. They CBOE already said even if it got approved wouldn’t fully launch for clients to purchase until Q1 of 2019. Here’s my thinking it will be delayed until sept 30 when it will be approved and will launch Q1 of 2019. Which would intern give us a nice bull run from Sept until official launch of ETF in Q1 of 2019.
As much as I NEED IT to be approved in August, I completely agree with your viewpoint. Not too much of a T.A guy myself, but this would correspond (timing wise) to the charts more fluently as well to the downtrend reversal...
Kristof, good poinst but BTC etf is already like 3 years is trying to be approved. SO it's not like it's not even a year. There was few btc etf that was forbidden to happen. Anyway, i heard how people in gov was walking and they are NOT happy about crypto. Until they find a way how to 100% have control over it -they will try to stop it.
Mr_Kristof thanks for responding mr kristof. I love the realness of your YouTube channel and look forward to it almost everyday lol. Do you think the alt coins will follow as well? Or will it just be bitcoin making this huge run at the end of the year
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