Bitcoin is rising like an 18-year-old girl! Women have changed in their 18th century. The pie has grown so much that I don’t recognize it anymore! Yesterday I heard two voices in the group: "Bitcoin is going to reach a new high" and "Why isn't my copycat going up?"

Indeed, this round of rising prices has caught 80% of people off guard. People who said they were ready to sell their houses before probably haven’t sold their houses yet. The effect of ETFs is indeed stronger than expected. Just like the domestic floods in 2008 and 2009, the transaction volume is refreshed every day.

Moreover, the leeks haven't gotten on the train yet. Now the old leeks are afraid to get on the train, and the new leeks are on the wrong train. To be honest, the Fomo mood is not as good as the inscription some time ago. There are no stories that are a hundred times a thousand times better.

Another point, according to the exchange rate, Bitcoin was 69,000 at that time. If we follow the RMB standard, everyone is now profitable. I said that there are still people arguing about this. Don't you use RMB for deposits and withdrawals?

Now if I were to look for value depression, I would feel like there is gold everywhere. I personally think that the madness of altcoins may not come so early. Looking at the previous bull markets, one necessary condition needs to be met - a large release of water. But now the Fed's interest rate cut agenda is still under consideration. So we still look for opportunities from the footsteps of history. Studying the adoption process and historical market trends of gold ETFs is of great reference significance for predicting the future market of Bitcoin ETFs. ETFs will push Bitcoin to new heights.

Bitcoin has always been called "digital gold". There was another piece of news this morning that I forgot to save. Some organizations plan to use gold and Bitcoin as a store of value. You can pay attention to it yourself. I looked for several key time points and price trends before and after the gold ETF passed.

In March 2003, Physical Gold's world's first gold ETF was listed in Sydney, followed by a sharp rise in gold that continued until the US ETF began trading.

In October 2004, the SEC approved the first gold ETF in the United States. The price of gold continued to surge slightly after the approval. In November 2004, the U.S. gold ETF GLD was officially listed on the New York Stock Exchange.

The market fell about 9% in the two months after GLD began trading, the price below which the ETF passed. But after almost 8 months of consolidation, gold began to enter a high-speed rising cycle. The passage of gold ETFs allows more traders to invest through ETFs. Is this very similar to Bitcoin now, which lacks compliant entry channels? In the following years, gold ETF products triggered a subscription boom around the world and became mainstream. gold investment tools, attracting a large amount of funds into the market. The market generally believes that the adoption of gold ETFs directly promoted the subsequent 10-year bull market in gold. The key point is the ten-year bull market!

I will digress here and look at the unemployment rate and interest rates in the United States. They are very similar to those in 2009. However, history cannot be copied intact. It is for reference only. If you are interested, you can pay attention to it yourself.

Back to the topic, let’s first brag about the impact of spot ETFs on the BTC market size. Just imagine this. Energy is settled in Bitcoin. How much capital exposure does this have? The companies that now own Bitcoin ETFs are also very strong. The total market value of institutional holdings in the stocks of these listed companies exceeds US$60 billion.
Since these asset management institutions themselves have already carried out Bitcoin-related business to their clients, it is possible that 10% to 20% of the stock positions of listed companies will be directly held in BTC ETFs as investment exposures, with the estimated AUM size being 6 billion to 12 billion. between US dollars.

Then from a more macro level, the U.S. wealth management industry may be the most direct market for BTC ETF. In fact, the biggest benefit of the adoption of Bitcoin spot ETF this time is compliance in the currency circle. What is currently lacking in the currency circle is compliance. If it is passed, it will be equivalent (only equivalent) to the United States recognizing the compliance of Bitcoin, and other pro-American countries will definitely follow suit, especially that crazy Argentina. So Bitcoin may grow to a very exaggerated value haha. Second, it is more convenient for users to buy Bitcoin, unlike the previous Grayscale, or they can only sell this option, which will have a negative premium.

As I said before, the arrival of the big bull market, coupled with the Bitcoin halving, the Cancun upgrade of Ethereum, the Ethereum ETF, and the Fed's release of water, this is a perfect combination, so now it is still the bottom of the mountain, so there is no need to be afraid. . For small currencies, retracement is a very good starting point. If you have not yet opened a position, you must think about it carefully and repeatedly compare comprehensive indicators such as industry leadership, potential, and technical aspects. To choose the investment that suits you best, at least you and him should have the feeling of first love. You can't fall in love deeply but you can't throw it away casually. You should taste some sweetness. Okay, today is an extra update. There are fewer pictures and more information. I still watch the market as I go, but the strategy cannot be changed easily. I hope we can all gain a lot from this fertile ground of cryptocurrency! #BTCETF