Too Long; Didn't Read

The last few months’ momentum in Bitcoin’s price has primarily been driven by the expectations of the first Bitcoin spot ETF approval. Since Bloomberg’S analysts suggested a 99% probability of approval, everyone slammed the buy button and both sentiments and valuations began a very rapid ascent upwards. Since 2017 when I saw the first ETF get rejected by the SEC, I have been very negative on the prospects of one getting approved. However, this time around, there’re many signals pointing towards a positive outcome.

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