Bitcoin short term bull run?

Bitcoin recently has risen to above $7200 and it seems like there is still a ways to go in this bull run. Bitcoin Shorts have dropped dramatically recently and longs have increased. The last time this happened, Bitcoin went all the way to $8500. This is very similar to that time. That rally was stopped short and reversed by the news of the CBOE ETF delay and this one might be also sometime before September 30th. That is a day that we should all be paying attention to as I expect another delay for the ETF at that time. I actually do not expect a final decision to be made on that ETF until Feb of next year. However, the news about adoption of cryptocurrency by industry I believe is finally filtering through and that is helping to raise the market up currently and will continue to do so for some time. If the custody services come through and retirement and pension funds start injecting money into cryptocurrency, the ETFs may not have as much effect on the market as they do now. So before the SEC announces their ETF decision on the CBOE ETF, I believe the markets will inch up but based on what they decide, that decision will move the market a lot.

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