$60,000 Bitcoin Incoming

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Big news out overnight that the SEC won't get in the way of a Bitcoin Futures ETF that is slated to start trading next week. For the longest time, the SEC has blocked any form of crypto ETF.

That they're not blocking this Futures ETF means that the subsequent ones, and there are 8 on the radar for the rest of 2021, stand a good chance of getting approved.

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This is the institutional FOMO moment that we've been waiting years for. Finally, it is about to happen and I think this lights a fire for the rest of the year and sees us hit that magical $100,000 mark.

Now, it isn't a done deal but if the news has leaked then I think the parties involved already know what's going to happen. Having worked in the industry, there's a lot of set up work that needs to be done in the background and if it is slated to trade next week, then all that prep work has to be happening now.

Alts left in the dust?

What will happen to alts? Will they be carried along for the ride or will we see a situation where Bitcoin leaves the alts in the dust? I think it will be the latter.

At least at the start as Bitcoin sucks all the oxygen out of the room. This is going to kill the weaker crypto projects like it did back in 2017. Brace for volatility.



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