This is good news for the crypto community and after that, we can see a little jump in the price of the overall crypto market. This was the case of 2021. Actually Grayscale applied for a spot but SEC canceled it. Immediately after that Grayscale decided to go to court and you can see the result today and this is impacted positively in the market. It seems like the market is going to boom from here but you have to be careful because a quick bet is not good because the SEC still has the review option it is a similar case to Ripple. they have the option to go to court and they have 21 days time.
SEC is doing wrong here and as you know there are multiple applications pending we will see that something is going to happen for sure in the coming time and this will surely dance the market. I mean to say fluctuation in the market because ETF delay, cancellation, or approval will directly affect the market. The good thing is there is positivity spread after this update because now everyone has faith that ETF will be approved for sure even if it is delayed for some time. Easy approval is not possible so definitely it will take time and maybe this matter will drag on till January. There is a possibility.
It seems like Grayscale will be the first who get the ETF approval. Everyone expected Blackrock but it seems like the SEC will approve this one first because of that court issue and it is in favor of Grayscale. As a hive user, I am also part of the crypto community and this type of update directly affects us. And this is the reason we have to keep an eye on it. If the overall market turns positive it will be a green signal for Hive as well. Currently BTC market is trading at around 27,426 US dollars and this is a good jump in one day. Also, altcoins are pumped by some percentage.
Let's say today BlackRock ETF gets the approval then we will see Bitcoin pump up to $40k overnight. So it depends on the news but this is just an example to know that Fundamental is very important. When xrp lawsuit came, it was like the market would be bullish from here. But it had an impact for a short time. Similarly, there will be a pump dump game because this is not a final confirmation. but things are positive against the SEC. There is a review issue and that is why this is not a final confirmation. We need a final verdict for the clear green signal and full positivity for the market.
Anyway, share your point of view regarding this update and also share this post on social media. Have a good day.
Thank you, everyone.
Lucky Ali
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 | Hi I am lucky ali from gujarat, india. I am a crypto enthusiast, blogger, and SEO developer. I am always interested to learn new things and getting new experiences. You can find me on hive, twitter and discord (Lucky Ali#6343). Sharing is caring, Thank you hive family ♥ |
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wow, that's good. More approvals are required for positivity in the market.