Many people attributed the rise in the market value of BTC to the approval of ETFs. Of course, this is undeniable. But from another perspective, there was a big bull market before ETFs.
To put it in an extreme way: if there were no ETFs, the trend of the currency circle might be the same as before, and it would be a bull market. Now the currency circle is already flourishing.
Of course, jokes aside, as the industry progresses, there will definitely be capital joining. The two complement each other and are indispensable. It’s just that as investors, we need to look at it from a different perspective.
The arrival of a big trend in an industry is not driven by a certain institution or country, especially since the currency circle belongs to the global financial system and there are many variables.
Therefore, the essence of the bull market is that it has value. Without BlackRock, there will be other institutions to drive it, and without the United States, there will be other countries.
