This Forbes article is probably the best one around and barely got any love on r/cryptocurrency possibly in part due to skeptics downvoting and leaving negative comments. I think the ETF will not get approved until after Bakkt does its thing in November and so we may hit the final BTC low around when that ETF news drops (end of September) just like we saw before except this time after that news settles the next big event to look forward to will be the Bakkt service going live and that may propel the uptrend via fomo before it actually goes live in November. Just my opinion of course, and look at pic related seems to fall in line with this thinking (not my charting btw).
Here's the extensive yet crystal clear Forbes piece:
Sooo, how much time to I have to load up my bags? I'm still a student and all of my wage slave money is disposable income. If I work for 20 hours a week for 12€ an hour, I would be able to afford one BTC by december.
Leo Carter
depends on the SEC decision for now, there is a small chance that the SEC will approve the ETF in September, if that would happen you'll miss the train if you haven't bought-in before the announcement. If the ETF gets delayed we'll see another dump, this dump will be the last chance before the approval of the BAKKT BTC contract (deadline is November). The perfect trade would be to catch the ATL of 2018 before the BAKKT announcement and to sell at the top of the possible ETF in 2019.
Adam Richardson
There's almost a zero chance there will be an ETF this year, all the ones with a hard deadline approaching are shit and the CBOE one will be delayed until next year. Short every approaching deadline in 2018.
William James
you have about 3-4 months left before we start a steady climb to $1,000,000
>late Q4 bakkt comes >Q1/Q2 '19 etf comes >Q3/Q4 '19 actual boomers with money fomo in via their retirement accounts >Q1/Q2 '20 the whole planet / poor fags start fomoing in >late Q2 '20 is next halvening >Q3 '20 we approach $1M
Levi Cook
So you full expect the next bullrun/bubble next year already and not in 2020? Also how many ETFs are in the oven right now? I know about the Vinkelvoss one that got denied and that second one. What happens if we get an ETF and BAKKT?
Would an ETF fuled bullrun have to potential of being bigger than the december bubble? What's a realistic estimate for the ATH
I wish, haha. But lets say you are right. Woudln't this be the beginning of the end? Once the boomers are in, and we reach an ath of 1M, millions of normie speculators will lose everything and people will start making comperisaons to the great recession. If everything goes perfectly, where exactly is the limit? Is this going to be the last great bullrull?
Jayden James
Etf approved we go to 50k at least. At least that is.
Charles Jackson
who the fuck is this insanely fucking sexy foot goddess thot
Connor Scott
We'll probably briefly pop above $1M before settling back close to it, then there will be a gradual increase thereafter (in proportion to world GDP growth) with bitcoin being used as the world settlement currency.
Alexander White
If btc is 1 million/coin its gonna be global reserve currency at which point next step is 1 trillion/coin or straight up death of other currencies unless they are sufficiently gold backed.
Justin Parker
when will you realize that etf and poo-projects like bakkt don't actually influence the price?
Carter Adams
The most important thing is the global economy and if the rich elite see btc as a life raft or not if it all goes north in the.next couple of years.
Mason Price
>bakkt >poo-project
Spearheaded by the owner of the NYSE and funded by Starbucks and Microsoft. What the fuck is your argument?
Sounds like wishfull thinking to me. At best Bitcoin is going to replace paypal.
Adam Cook
But the market is a lot more regulated than pre 2008 and leverage is much smaller. We are not going to have another great recession anytime soon.
Jonathan Murphy
I agree, but as you said "almost" zero of a chance. BTC also had "almost" zero of a chance to climb from 2k to 20k.
Let me tell you one thing, the last bitcoin halving didn't cause the last bubble, the anticipation for the BTC futures, retail fomo and tether caused that huge run. So yes, if BAKKT launches in November (which is very likely) we'll see another run (imo the biggest in history) with anticipation for the BTC ETF. We'll also see another wave of altcoins which survived the last bubble, because ppl like you and me are greedy af.
Levi Gonzalez
>Bitcoin is going to replace paypal.
There is nothing that Bitcoin does that makes it a useful replacement for paypal or general transactions.
Where is the efficiency in converting dollars to Bitcoins and back for making online payments? What is the point?
Bitcoin is digital gold, the online cash thing is a fucking meme.
Gavin Mitchell
Seems reasonable. I think the bear market lasts til January/February.
Bentley Green
based $1500 in november
Adrian Murphy
>What the fuck is your argument? my argument is that etf and poo-projects like bakkt don't actually influence the price.
Leo Jones
Explain your reasoing.
Isaac Garcia
i mean short term like a few days to weeks sure news do influence price but longer than that bitcoin just goes on it's predetermined path deviating from it's baseline only with overall market sentiment switching between under and short overvaluations. nothing will change it it's like asteroids hitting the moon. they pepper the surface but not slowing that bitch down.
Anthony White
>Where is the efficiency in converting dollars to Bitcoins and back for making online payments? What is the point?
The point is that when crypto is actually mainstream you won't need to convert back and forward, you'll be paid in crypto in the first place
Evan Reed
isn't bakkt still pending approval?
Daniel Reed
>you'll be paid in crypto in the first place that requires price to stabilize more than forex, because otherwise you will get ripped off. fore example in a few shops in my country you can pay with national currency obviously and euros also. now the prices are in national currency and there is a daily exchange rate for euros so the shot converts your euros on the "spot price" which gonna involve some plain ass robbery because of their risk and costs you pay about 5-10% markup on this and then the account your purchase in the national currency as they fucking have to. that can work with crypto but it would be insane to participate in that crap. 1-2% markup on spot is the most a reasonable person can handle but even that would hinder mass adoption.
