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Get Over the Bitcoin ETF and Focus on Bakkt

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According to Dan Morehead, focusing on the Bitcoin (BTC) ETFs right now is a waste of time and effort. He believes that it is still too early to have ETFs approved and that this focus should be directed at Bakkt since it will be a much bigger deal in the long run.

Stop talking about ETFs

Ever since the SEC started receiving requests for Bitcoin (BTC) ETFs, the entire crypto space got very excited about the possibility of having them approved. This has reflected strongly on the price of cryptos as well, as many coins, led by BTC itself, went through a significant price increase.

However, while the SEC did not reject all of these requests, they certainly did destroy the initial excitement by delaying their decision. These reports also reflected on the prices, and cryptos fell right back to where they were before the initial excitement took place. One thing that many often forget, however, is that the ETFs, while important for the further development of the crypto world, are not the only big crypto-related thing that is going on right now.

According to Pantera Capital’s CEO, Dan Morehead, the investors need to forget about the ETFs for now and focus more on a new crypto venture called Bakkt. Bakkt has a potential to tap into numerous companies and brands and to make use of their expertise. It even has a potential to become a real game-changer for the entire crypto market. Additionally, considering that some pretty big and reputable names are behind it, Bakkt can also inspire trust in institutional investors, and finally, bring many of the more careful ones to the crypto space.

Because of that, Morehead’s idea is to stop focusing on the ETFs of today and focus on Bakkt more. If everything goes according to plans, there will come a day when Bakkt will be able to facilitate as many BTC ETFs as necessary. However, to do that, it has to kick off first, and it needs the investors’ help to do it.

Bakkt needs patience, but it is worth it

In his recent interviews, Morehead stated that the new approaches to issues that are bothering the SEC are not good enough to convince them to allow BTC ETFs. Because of that, all the effort behind these requests might end up being for nothing. Even though the SEC has postponed making the decision, Morehead doesn’t believe that anything good will come out of it.

He also stated that ETFs will likely not arrive anytime soon. He compared cryptos to copper, stating that copper was the last asset to get ETF approval, and that is a resource that has been on Earth for thousands of years. Cryptos, however, have been around for only 9 years now, and so he doesn’t believe that they will see that kind of breakthrough just yet.

He then decided to focus everyone’s attention on another big news regarding the crypto world, which is the creation of Bakkt. ICE, the parent company of NYSE, decided to launch a new crypto platform in collaboration with some pretty large names. Those include Microsoft, Starbucks, and more. This is a huge deal for the crypto space, and it will bring significant changes over the next few years. Even if it takes an entire next decade, the crypto world will be a very different place due to the creation of this platform.

This is why Morehead believes that Bakkt is the project that should get all the attention now. It is important to remember that, while Bakkt does promise some big changes, they will take time to arrive. Bakkt can be seen as a project that is playing the long game, and as such, it requires patience and dedication. So far, the project has received its fair share of attention and support, but it can always use more.

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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

The rise of the crypto casinos

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In the hyper-competitive world of online casinos, operators are always looking for ways to stand out from the crowd. The most usual methods include using distinctive branding, offering generous bonuses and making sure that they are on all of the major so-called affiliate sites where players can compare and contrast casinos’ different offerings.

But now a whole new generation of casinos are starting to emerge – ones whose key difference isn’t what and how you play, but more in how you pay.

The rise and rise of the cryptocurrency casino is seen by many as the next logical step in a world that is slowly but surely starting to accept that Bitcoin, Ethereum, Ripple, et al. are certainly here to stay.

Of course, it’s the first of these cryptocurrencies that has really grabbed the headlines and led the way with its meteoric performance in 2017 when it seemed like its $20,000 value was just the start of the story. Admittedly, this was short-lived and the value quickly fell back to a more sustainable level but, if it achieved one thing, it was to cement this exciting new kind of currency in the consciousness of the general public.

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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.

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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.

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