Let me talk about my views on the next Bitcoin spot ETF. First of all, I think the probability of Q1 passing is relatively high.
A few days ago, companies that applied for Bitcoin spot ETFs asked the government to submit some documents. This is a sign that the U.S. government is doing something. After all, it was Christmas not long ago. In addition, the applicant this time is BlackRock, which is extremely wealthy. There should be no more powerful candidate than this institution to open the first shot of this Bitcoin spot ETF.
Secondly, some countries have actually passed Bitcoin spot ETFs for a long time. For example, Canada, a good neighbor of the United States, is one of the eight countries that has passed Bitcoin spot ETFs. So why have so many countries passed it? But is it still a big deal if the United States passes it this time? After all, the United States is still the world's largest economic system, and in terms of transaction volume, it accounts for the vast majority of the currency circle.
But we can think about it in another direction. If you adopt the banker mentality, why do you want retail investors to make money? Even if it passes, there will definitely still be selling pressure. After all, if it passes, it means that the dealer will need to collect the spot currency. Why should it increase its own costs? In addition, the current price increase will be a reflection of the news by speculators in the trading market, because even if large institutions receive goods, they must go OTC to not affect the price as a priority.
So I personally think that the Bitcoin spot will pass, but it will be a negative in the short term, but in the medium and long term, the price of Bitcoin will definitely develop in a positive direction. So those who don’t want to take risks can consider going as empty-handed as possible when the final announcement date comes.
