https://cryptotale.org/analysts-weigh-in-bitcoin-cycle-patterns-preceding-halving-events/
Friday, September 8, 2023
Spot ETF decisions deadlines in October
Source: Yahoo Finance UK
Comment: SEC saying "Yes" = (short-lived) Bull Run
Spot bitcoin ETF decision deadlines in October
October is expected to witness increased market volatility, primarily due to key events occurring in the middle of the month.
The US Securities Exchange Commission's (SEC) 45-day window is set to expire for reviewing the Grayscale spot bitcoin exchange traded fund (ETF) application.
Slightly later in the month, on October 16, is the second deadline of the BTC ETP Trust Bitwise. And on October 17 is the second deadline for BTC ETO Trusts from BlackRock (BLK), Fidelity (FNF), Wisdomtree and Invesco.
Investors are accumulating bitcoin in anticipation of a market moving decision in October. There is a hope that an SEC decision on a spot bitcoin ETF will bring regulatory clarity so that traditional finance can invest with reduced risk in the digital asset.
Speaking to Yahoo Finance's Brian Sozzi, Coinbase (COIN) CEO Brian Armstrong said his firm is "looking for regulatory clarity".
The co-founder of the world's second largest cryptocurrency exchange by trading volume said regulatory clarity would help the firm prioritise their investments.
Because of lack regulatory clarity in the US, Coinbase is focusing its efforts overseas. "We just launched in Canada last month and also our international derivatives exchange May, which is important as derivatives trading is a big piece of the crypto ecosystem," Armstrong said.
However he added that there is still broad recognition in the US that crypto technology is important and that it is not going anywhere.
"It needs to done in a safe and trusted way for American consumers to make sure this doesn't go off-shore as there are important national security implications for the US here," Armstrong added.
Ark invest seeks regulatory approval of spot ether ETF
Cathie Wood's Ark Invest and crypto investment firm 21Shares are seeking regulatory approval to set up an exchange-traded fund that would directly hold ether (ETH-USD), according to an SEC filing this week.
This is the first attempt to list a fund in the U.S. that would directly invest in the second-largest cryptocurrency by market capitalisation. The fund would trade under the ticker ARKE.
Speaking to Bloomberg, the Ark Invest CEO said: “There’s been so much regulatory controversy about a bitcoin spot ETF that I guess many people thought it was a step too far, but we don’t, and it’s always nice to be first.”
Ethereum climbed almost 1% in the past 24 hours, now changing hands for $1,643, according to CoinGecko. The global cryptocurrency market cap on Friday was $1.09tn, up 1.2% in the past day.
An analysis suggests BTC could reach new highs in 2024
According to a recent analysis called Charles Edward from Capriole Investments this what could shape Bitcoin's path in 2024:
Bitcoin as an Inflation Hedge: Despite skepticism, Bitcoin proved its mettle as an inflation hedge during the 2021 surge. It emerged as a strong performer when it mattered.
The Upcoming Halving: The April 2024 Bitcoin halving event is a key focus. It will substantially reduce Bitcoin's supply growth rate to just 0.8% annually, putting it below Gold's 1.6% for the first time. This supply constraint could be a pivotal factor.
The ETF Potential: Regulatory clarity is emerging, with the CFTC classifying Bitcoin as a commodity in 2021. We're also observing Blackrock's Bitcoin ETF application and the SEC revisiting Grayscale's spot ETF rejection. The analyst expects a favorable outcome, possibly in October 2023 or January 2024. Interestingly, the approval of the Gold ETF in 2004 resulted in a massive +350% return and a seven-year bull run.
In summary, while acknowledging short-term market volatility, the analyst maintains an optimistic outlook for Bitcoin in the long term. The analyst points to the typical pattern in Bitcoin's four-year cycles, where the majority of gains occur in a 12-18 month period, followed by 2-3 years of stability or decline. The analyst believes that 2024 could stand out in this cycle, supported by compelling data and these significant catalysts.
What do you expect to happen?
Thursday, September 7, 2023
El Salvador: Bitcoin as legal tender 2nd anniversary activities
Today was a great day for Crypto enthusiast in El Salvador.
Even though is well knowned that the beginning of the project has not been smooth at all, with lack of trust from citizens, and lack of transparency and education from government side(Including a couple of lies, such as Chivo Pets, that it was "financed" by bitcoin profit, when the government didnt have any profit so far).
The activities from today in comparison with last year less people attend (Especially in Bitcoin Beach, El Zonte). Last year there was a lot of foreign visitors, this year there was around 80% capacity in comparison with 2022(the 1st year anniversary)
During the event there was a huge announcement for the 2024 plans, specific the Ministry of Education project which Aim to reach 75 public school teaching Bitcoin courses, and explaining that the main reason why is difficult tu reach 100% of the public school by next years, is the lack of teachers with the basic knowledge of Crypto in General.
It is true that there is a huge way to go in order to make more citizen and business to use accept bitcoin, but trying to be a little bit possitive, I think there is stil some hope.
Here I share some pictures of the promotional merch they had to conmemorate the 2nd anniversary of bitcoin as legal tender.
Hope you enjoy it:
https://imgur.com/UuhldVe
https://imgur.com/VI0ezHY
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323/--- 666 days after Bitcoin hit highest price-- Market Bombed--Globalists signalling
6 Sep= 666 days after Bitcoin hit its highest price on 9 Nov 2021
Headline-- Market Bombed in Ukraine during US Sec State Blinken''s Third Ukraine visit
Key word-- Market
6 Sep--6/9
ANTONY BLINKEN= 69
FALSE FLAG= 69
69 days before King Charles' birthday on 14 Nov
2023 MARKET BOMBED DURING BLINKEN THIRD VISIT= 223
THIRD= 456--spook code
LANGLEY CENTRAL INTELLIGENCE AGENCY HEAD QUARTERS= 456
RUSSIANS STRIKE UKRAINE MARKET= 115
STOCK MARKET CRASHES= 115
BULL MARKET= 115
DOW CRASHES= 115
7 Sep= 115 days left in the year
Timeline--
11 Mar 2020--WHO announced the Pandemic
322 days later--
27 Jan 2021-- Gamestop hit its highest value
33,333 days after Black Thursday 24 Oct 1929 Great Wall St Crash
999 days later--
23 October
5555 days after Putin Invaded Georgia on 7/8/08
exactly one year after Xi started his THIRD Term as China's President
Same day--Bill Gates held the 2022 Catastrophic Contagion event
30 November--- St Andrew's Day
5555 days after Lehman Brother's Bankruptcy 15 Sep 2008--which triggered 2008 Global Housing Crisis
27 Jan 2021-- Gamestop hit highest price
2 years 322 days later--
15 December
666 weeks after the Fukushima nuclear accident on 11 Mar 2011
18 December= 1119 days after Dow hit 30,000 points for the first time ever on 24 Nov 2020
666 days later--
13 Oct 2025
13TH OCTOBER 2025 STOCK MARKET CRASHED= 322
24 Jan 2017-- Dow hits 20,000 points for the first time
Start of 8 Year Super Boom
'Super boom' will push Dow over 38,000, Hirsch predicts - InvestmentNews
8 years 8 months 8 days later--
2 Oct 2025
18 Nov 2025
Day 322
3220 days after Dow hit 20,000 points on 24 Jan 2017
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