If you’re any bit familiar with the current status of cryptocurrency, then you know that there isn’t too much to brag about, at least from an investor’s perspective.
Bitcoin shares have been hovering within the $6,000 to $8,000 range in recent months, which is quite uneventful in comparison to the $19,000+ it shot up to at the end of 2017.
But things are about to change…
A brand-new crypto ETF is in the works and if it’s approved for Wall Street, it has the potential to cause Bitcoin’s stock to double in price!
Here’s what you need to know, so you can be sure you don’t miss out on these effortless gains when the timing is right.
For those of you who are new to the market, you may be wondering: what is an ETF and how does it play a role in making cash from crypto?
Good question.
Without getting too tangled up in the details, an ETF is an acronym that stands for exchange-traded fund. The main appeal for these types of funds is the fact that they cut down on risk for investors.
Considering digital currencies have already developed a reputation for volatility, it’s easy to see why the demand for a more stable trading method now exists.
Rather than betting everything on Bitcoin via traditional investments, a Bitcoin ETF would allow investors, such as yourself, to conveniently invest in multiple currencies by trading the same way you would handle a single stock.
Think of it as an average of all the top cryptocurrencies. Even if one coin is in a downtrend, the others have the ability to boost the overall share price upwards.
Because these digital currencies would all be jumbled into the same fund, it would effectively reduce individual losses. Strength in numbers, right?
This goes beyond reducing investment risk though. The formation of a new ETF has given hope that the Bitcoin price will climb back up or even exceed the all-time highs that happened late last year.
Many experts are predicting that its price could DOUBLE as early as this November, assuming the ETF is approved.
Also, a Bitcoin exchange-traded fund would make crypto more accessible, potentially injecting a new wave of capital into Bitcoin and the currencies that tend to closely follow.
It makes sense when you think about it.
The more institutional money in Bitcoin will lead to long-term stability, which is exactly what the upcoming Bitcoin ETF aims to do… bring more institutional money to the currency.
In the meantime, keep your fingers crossed for a green light on this Bitcoin ETF that’s currently under construction and prepare for the profits to follow afterwards.
If everything goes according to planned, it’s likely that we’ll see a surge in Bitcoin share prices very soon.
