Two Bitcoin ETFs to Launch a Major Catalyst
In a surprising and exciting announcement, the SEC has approved two Bitcoin ETFs. Bitwise and Vaneck will launch these ETFs, and more Cryptocurrency ETFs may follow in the future.
Bitcoin has soared beyond $4,100 and is currently $300 from a key resistance level of approximately $4,500. The news of and launch of the ETFs will cause institutions to buy the underlying assets and may pave the way for future cryptocurrency ETFs. Bitcoin and other cryptocurrencies habe not been tested in a major market downturn, and may function as "digital gold", creating a price catalyst during a future recession or market downturn.
Now is a great time to buy Bitcoin. With the resistance level far enough away at $4,500, this could be a good time to dip your toes into the Cryptocurrency Market.
Sources:
https://coinmarketcap.com/currencies/bitcoin/