If CBOE's Bitcoin ETF gets approved expect at least 4 more in the US to quickly hit. Other financial centers will likely follow suit London, Singapore, Hong Kong, Dubai, Zurich.
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Replying to @MindsFiction @TenaciousBTC
How badly will this impact Alts?
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Replying to @swanborough12 @TenaciousBTC
Speculative money will flow into BTC, if approval occurs. Alts will bleed out like with run up to futures listings but this time new long term holders enter the market. (retail money) So measured in BTC terms I think the high water mark would be in for most coins but not in USD
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Let me know if you see it another way.
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Replying to @MindsFiction @TenaciousBTC
Ok, so BTC would charge along. TRX and ENG I have alot of faith in the tech. Mid term they would bleed, mid 2019?
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Replying to @swanborough12 @TenaciousBTC
If this ETF is approved then in BTC term they'll never recover to previous highs. IMO.
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My only certainty in crypto is that I doubt know. If this ETF gets approved I would expect we hit $50k. But who knows maybe it crashes going into the ETF even though I can't envision it.
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Replying to @MindsFiction @TenaciousBTC
Thank you for your opinion on this.
0 replies 0 retweets 1 likeThanks. Twitter will use this to make your timeline better. UndoUndo
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