Last week, the market has shaken the news of the rejection of the Winklevoss brothers on the legalization of public funds (ETFs). Then Bitcoin dipped to $ 500. Later it turned outthat the reason for panic and the twins-billionaires initially had few chances to receive a license for the establishment of funds.
Now head Foundstrat Tom Lee noted how quickly the market recovers from the failure Winklevosses. The ability of Bitcoin to shy away from major events in the industry linked with the strengthening of the coins. His words leads CCN.
What it means for ETF market
Bitcoin became really strong, just the decision of one of the main regulators in the world, the SEC, has no significant effect on the coin, added Lee.
What happened now is a sign of positive change for all cryptocurrencies. If this situation happened in a more bearish period, which peaked in April-June, we would see a significant coin sale. Now, however, digital assets strengthened and ready to continue up.
Founder trading platform eToro Yoni Assia in conversation with the newspaper recalled that the ETF is not the only tool for institutional investors, but a great signal for the SEC, which indicates the market is Mature enough.
Any thoughts on ETFs do you have? Not overrated if the hype? Share ideas in our cryptodata.
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