In spite of everything, ETFs are simply commonplace funding merchandise, not manna despatched from heaven. As soon as folks notice that, we would see a gradual uptick in demand and value motion for bitcoin, however not a flood of all-time-high milestones. Gold, when you examine, didn’t all of the sudden grow to be a mainstream funding; it took years. And, it’s prone to be the identical with bitcoin.
Nonetheless, the hype across the ETF announcement exhibits how many individuals on the market need a optimistic narrative to maneuver bitcoin larger. That, somewhat than the precise impression of ETFs, will be the vital level right here. Regardless of the fundamentals, there’s large demand for optimistic information in crypto after the falls, crashes and scandals of the final 18 months.
