Bitcoin ETF Postponed, what does this mean for the Crypto Rally?

The Bitcoin ETF has been postponed until September due to a a slew of reasons probably owing to the fact that regulators were just not ready for it since a Cryptocurrency ETF is a very new thing. This may cause a very temporary pullback in the market but overall, I see the Cryptocurrency market really rallying into the next month. This is because the ETF was not cancelled, it was just delayed until regulators figure out what is going on so people are still looking forward to it happening in September. Also, other good news like India allowing Cryptos for sports betting and Coinbase starting a crypto gift card I think will more than outweigh this delay of the ETF and will eventually push the market higher in August.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s