FinancialCentre Broker Says Bitcoin Price Rally Could Be ‘SUPERCHARGED’ As Crypto ETF Milestone Finally Passed

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  • November 3, 2021
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London, England, 4th Nov 2021, In a press conference, the FinancialCentre’s broker, Nick Johnson, explains how crypto markets are changing. It’s been a long time since we’ve seen the Bitcoin price breakthrough significant resistance to produce solid gains. Still, indications around the approval of what will almost certainly be the first bitcoin ETF may finally put us back on track. As we know, crypto has historically risen and fallen alongside new regulations and rulings. Many investors had expressed concern that declines in the past might have resulted from regulatory uncertainty.

According to its creators, the first bitcoin futures exchange-traded fund will go live in the United States on Tuesday. They see it as a significant step forward for the cryptocurrency industry to send it to new heights.

According to the broker, the ProShares ETF will be offered on the New York Stock Exchange, allowing a new crowd of traders and investors to get involved in cryptocurrencies that are hesitant to do so through exchanges. Through platforms that are more familiar with, it provides a more regulated framework for conventional investors.

Rise In Prices:

The much-awaited news was preceded by a string of price rises that have driven the cryptocurrency’s value up by almost 50% since the beginning of October. Bitcoin is now less than $2,000 away from its all-time high of $64,863 set in mid-April, with some market commentators predicting that the ETF introduction will be the catalyst for a “supercharged” rally.

The news comes after the US Securities and Exchange Commission (SEC) delayed its decision on another bitcoin ETF proposal in August. Concerns over market manipulation continue to be an obstacle towards the approval of such financial tools.

“For individuals who are hesitant to acquire bitcoin directly from an exchange, a bitcoin ETF will offer considerably more exposure to bitcoin,” the FinancialCentre’s broker told the investors.

By allowing investors to participate in bitcoin through ETFs that follow its underlying value, they can get a taste of bitcoin without having to worry about navigating exchanges, wallets, or private keys.

While the change is seen as a step toward alleviating investor barriers, some in the crypto business are critical.

“The BTC futures ETF is a horrible choice for investors, especially because they can buy bitcoin directly,” the broker tells the listeners.

Even on a fundamental level, the bitcoin futures’ graph implies a price in the future – one that doesn’t have the storage and convenience drawbacks of commodities. While the latter has no value on its own, bitcoin has a significant store of value that serves as a basis for pricing it.

“At this point, no one should have any illusions about the cryptocurrency giants. And investors must recognize that bitcoin will likely remain volatile even if it manages to establish itself as an ETF-approved commodity.”

It’s been a long time since we’ve seen the Bitcoin price breakthrough significant resistance to produce solid gains. Still, indications around the approval of what will almost certainly be the first bitcoin ETF may finally put us back on track. As we know, crypto has historically risen and fallen alongside new regulations and rulings. Many investors had expressed concern that declines in the past might have resulted from regulatory uncertainty.

According to its creators, the first bitcoin futures exchange-traded fund will go live in the United States on Tuesday. They see it as a significant step forward for the cryptocurrency industry to send it to new heights.

According to the broker, the ProShares ETF will be offered on the New York Stock Exchange, allowing a new crowd of traders and investors to get involved in cryptocurrencies that are hesitant to do so through exchanges. Through platforms that are more familiar with, it provides a more regulated framework for conventional investors.

Rise In Prices:

The much-awaited news was preceded by a string of price rises that have driven the cryptocurrency’s value up by almost 50% since the beginning of October. Bitcoin is now less than $2,000 away from its all-time high of $64,863, with some market commentators predicting that the ETF introduction will be the catalyst for a “supercharged” rally.

Conclusion:

Bitcoin ETFs are a new way to allow investors to participate in bitcoin without worrying about the risks of private keys and wallets. With this new development, the price of bitcoin can rise very high.

The FinancialCentre’s broker tells the listeners that the much-awaited news was preceded by a string of price rises that have driven the cryptocurrency’s value up by almost 50% since the beginning of October and will likely continue to rise because ETFs are allowing conventional investors to get involved.

“There will be a lot of money to be made and lost over the coming months and years as cryptocurrencies move toward mainstream investments and eventually global adoption,” the FinancialCentre’s broker concludes. Binary Cent has been active in providing investment advice for its clients since 2014.

Disclaimer: Our content is intended to be used for informational purposes only. It is very important to do your own research before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on this article and wish to rely upon, whether for the purpose of making an investment decision or otherwise.

Source: FinancialCentre’s Broker

Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Glean News journalist was involved in the writing and production of this article.