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Here Is What Will Push the Approval of the CBOE Bitcoin ETF Before The End of 2018

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The view in the crypto-verse is that the CBOE Sponsored Bitcoin ETF at the SEC is the key to a certain Bitcoin (BTC) Bull run in the crypto markets. This month of August is expected by many crypto traders as the month we find out if the SEC is all for a Bitcoin ETF being approved. There are also some chances of the decision being postponed. However, we have already had the Winklevoss ETF  being rejected and this is adding to the skepticism of another being approved soon.

But this was before the Intercontinental Exchange – who happen to be the owners of the New York Stock Exchange – announced that they will be partnering with Starbucks, BCG, and Microsoft, to launch a firm known as Bakkt. This firm’s chief goal will be to make Bitcoin, and all other digital assets, part and parcel of viable investment options on Wallstreet.

This fact is best exemplified by CNBC’s Brian Kelly who is noted as stating the following in a recent commentary on the News Channel:

“This is huge news. I think the market is completely underappreciated. So let us talk about why this is the biggest news of the year for Bitcoin.”

In the commentary by Brian, he also added how this new firm will pave the way for the approval of a Bitcoin ETF:

“It paves the way for a Bitcoin ETF. Last week I stood here and said you know what, I don’t think the Bitcoin ETF will get approved. And guess what? The Winklevoss ETF got rejected. Why?

Because there was not a US regulated exchange and there wasn’t US regulated custody.”

This points out the major reasons the Winklevoss ETF was rejected. Perhaps they can now even launch a new filing of a rule change at the SEC. In the meantime, this new development on Wallstreet by the biggest stock exchange in the world means that the SEC will need to recalibrate their facts before rejecting the pending CBOE Bitcoin ETF.

Brian Kelly would go on to explain how easy this makes for an ETF to be approved:

“That’s going to make it a lot easier for an ETF to come through. It is even better than Bitcoin Futures…[because] they are talking about getting this into you 401k. They are talking about getting it into your Schwab, Fidelity or TDAmeritrade account…you are going to be able to buy a Bitcoin ETF, a Bitcoin Mutual Fund. It expands the universe.”

With this fact in mind, a Bitcoin Bull Run is only a matter of time in the markets. Even with the current decline of BTC, traders are very much optimistic that the tides will turn in their favor with a full-blown Bull run. Some price predictions put BTC at $54k by the end of the year.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Bitcoin

The Bitcoin Revolution: Everything You Need To Know To Take Profits

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Bitcoin is soaring high in the cryptomarket once again, and experts are expecting a return of the bullish trend of 2017. The current Bitcoin price is $7,615 as of 23 May 6:56 AM UTC. This significant jump comes just six months after the Bitcoin price plummeted to a low of $3150 in December 2018. Since then, Bitcoin has experienced steady growth and gain in the market. However, in the last 30 days, the Bitcoin price peaked to $8,320.82, its highest price ever. This phenomenal jump occurred in a span of only 10 days breaking the Bitcoin record so far of significant gains made in short time frames. This positive growth has led to experts forecasting the Bitcoin price to hit the $20,000 mark by the end of this year.

Since entering the market almost 11 years ago, Bitcoin is still at the top of the global cryptocurrencies list. The current circulating supply of Bitcoin is at unbelievable 17,708,875 BTC. The market trend of the Bitcoin price has remained positive even when the currency did not maintain an uptrend. Cryptocurrency researchers believe that Bitcoin has the potential to grow up to a high of USD 50,000 within the next two years.

How to Profit from Bitcoin…

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Altcoins

3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

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The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

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