This Is The Catalyst Crypto Markets Are Waiting For

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This Is The Catalyst Crypto Markets Are Waiting For

What Will Drive Bitcoin’s Value Higher?

With Bitcoin rebounding off its 2020 lows traders are asking, what will drive the crypto market higher? There are many potential catalysts on the horizon, most will result in higher prices for BTC and the major cryptocurrencies, but one will drive the market to new all time highs. The listing of a BTC ETF.

The SEC has long been averse to the cryptocurrency market having trouble deciding if the tokens were securities or not. Bitcoin is not considered a security, a decision that led to the listing of BTC futures, but an ETF based on the token has not been forthcoming.

Recent changes in stance from the SEC, CFTC and FINRA have paved the way for a BTC ETF listing and when that happens you can expect to see the market respond favorably. A BTC ETF would allow for mass investment in the cryptocurrency arena without the need for direct exposure to cryptocurrency. This means everyone from retail investors to institutional traders will have access to the market and that will unleash a flood of money that will thrust BTC into the mainstream.

Last month the Cboe Global Markets filed an application with the SEC requesting permission to list a BTC ETF. Along with the letter they have invited the public to comment resulting in a flood of support. The SEC is now bombarded with requests they allow BTC ETFs and many go so far as to explain why such a move is in line with the SEC’s goal to protect the public. One such protection is higher liquidity (better fill prices, easier sales/purchases), another is investor insurance and institutional-grade custody (of the underlying asset).

Your stated mandate as an independent agency of the US federal government is to “protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation.” The approval of a Bitcoin ETF would accomplish these goals. Morgan Creek Digital

If the ETF is approved (that is the catalyst, approval of the ETF, not the listing) it is scheduled to begin trading in the first quarter of 2020. Along with this development is the SEC’s stance on Ethereum and Litecoin. Both have been deemed non-securities by the SEC paving a path for futures and ETFs based on both. Ethereum and Litecoin are both also facing major system updates this fall that will increase their utility, further enhancing their value.

Bitcoin is now trading just shy of the $7,500 mark. This is a near-term quality resistance level and one likely surpassed in the next week or two. The token’s price action is forming a small consolidation pattern at this level that could easily lead to $1,250 in gains in a short timespan. The indicators are bullish and on the rise, suggesting higher prices are on the way, with $8,000 as the first and most obvious price target. A move above that level would be bullish and could take BTC up to $9,000 by the end of July.

This Is The Catalyst Crypto Markets Are Waiting For

What Will Drive Bitcoin’s Value Higher?

With Bitcoin rebounding off its 2020 lows traders are asking, what will drive the crypto market higher? There are many potential catalysts on the horizon, most will result in higher prices for BTC and the major cryptocurrencies, but one will drive the market to new all time highs. The listing of a BTC ETF.

The SEC has long been averse to the cryptocurrency market having trouble deciding if the tokens were securities or not. Bitcoin is not considered a security, a decision that led to the listing of BTC futures, but an ETF based on the token has not been forthcoming.

Recent changes in stance from the SEC, CFTC and FINRA have paved the way for a BTC ETF listing and when that happens you can expect to see the market respond favorably. A BTC ETF would allow for mass investment in the cryptocurrency arena without the need for direct exposure to cryptocurrency. This means everyone from retail investors to institutional traders will have access to the market and that will unleash a flood of money that will thrust BTC into the mainstream.

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Last month the Cboe Global Markets filed an application with the SEC requesting permission to list a BTC ETF. Along with the letter they have invited the public to comment resulting in a flood of support. The SEC is now bombarded with requests they allow BTC ETFs and many go so far as to explain why such a move is in line with the SEC’s goal to protect the public. One such protection is higher liquidity (better fill prices, easier sales/purchases), another is investor insurance and institutional-grade custody (of the underlying asset).

Your stated mandate as an independent agency of the US federal government is to “protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation.” The approval of a Bitcoin ETF would accomplish these goals. Morgan Creek Digital

If the ETF is approved (that is the catalyst, approval of the ETF, not the listing) it is scheduled to begin trading in the first quarter of 2020. Along with this development is the SEC’s stance on Ethereum and Litecoin. Both have been deemed non-securities by the SEC paving a path for futures and ETFs based on both. Ethereum and Litecoin are both also facing major system updates this fall that will increase their utility, further enhancing their value.

Bitcoin is now trading just shy of the $7,500 mark. This is a near-term quality resistance level and one likely surpassed in the next week or two. The token’s price action is forming a small consolidation pattern at this level that could easily lead to $1,250 in gains in a short timespan. The indicators are bullish and on the rise, suggesting higher prices are on the way, with $8,000 as the first and most obvious price target. A move above that level would be bullish and could take BTC up to $9,000 by the end of July.

The Next Catalyst in Crypto Markets Awaited

Early trading this week has seen a tight range develop in the marketplace as the next catalyst is anticipated.

The Great Debate in Cryptos Rages and their Results this Week are Important

The great debate within the cryptocurrency space continues like massive solar flares. Optimistic speculators and analysts point to last week’s late surge and say trading volumes are increasing again. Many of the same analysts are also suggesting the approaching tax deadline which is tomorrow in the U.S, is allowing traders to freely participate again in digital assets. However, naysayers argue last week’s jump in prices are only a temporary good result, which will vanish again near term. After enjoying two solid days of gains last Thursday and Friday, digital assets have traded in a tight range. Meaning this week’s results will be very interesting to watch for all crypto participants.

Renewed Sense of Vigor Short Term for Bitcoin, Steady Price Action

Bitcoin has made a solid display of strength. Late last week the digital asset broke through short-term resistance, and as of this morning, Bitcoin is trading near 8100.00 U.S Dollars per coin. The cryptocurrency has plateaued since making highs on late Thursday and it appears to be waiting for its next catalyst. Digital assets, including Bitcoin, have been in search of an emotional rescue the past three months – and last week’s price action has given some speculators a renewed sense of vigor. Resistance for Bitcoin appears to be about 9100.00 U.S Dollars, while important support may be interpreted around the 7700.00 juncture.

Initial Coin Offerings Still Attracting Many Investors per Dollars Spent

Initial Coin Offerings have suffered the past few months from bad publicity, as the hammer from regulatory agencies has proven difficult. However, the fact is new ICO’s continue to be launched on a daily basis through a number of platforms, which offer a chance to participate in the growing sector. Investors who are pursuing opportunities have been more cautious, but the dollar amounts spent in the global ICO market still shows a vast amount of interest.

Crypto 42 Summit in Vienna, Austria Today

Vienna, Austria is holding the Crypto 42 Summit today and its agenda covers the use of tokens, the global regulatory environment, and will highlight European Blockchain developments.

  • April 16th, Austria, Crypto 42 Summit in Vienna

Yaron Mazor is a senior analyst at SuperTraderTV.

SuperTraderTV Academy is a leader in investing and stock trading education. Sign up for a class today to learn proven strategies on how to trade smarter.

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