Categories: Blockchain Investments
Topics: Cryptocurrency

This Is Going to Send Bitcoin Into a Frenzy

Bitcoin has been sneakily and stealthily stair-stepping up into the right. 

At last check it was around $33,000, but has had periods over $35,000 in the past few weeks.

More recently, and also more interestingly, there was a leak from CoinTelegraph, which is a very widely-followed Twitter account, that the SEC had approved BlackRock’s iShares Bitcoin spot ETF.

Now, let me backtrack a bit and tell you that lots of people are interested in this because there are multiple ETFs that have been applied for by iShares and Cathie Wood's ARK and several other outfits. And there's already been the Bitcoin-derivative and Bitcoin miner ETFs approved, but there's been no Bitcoin spot ETF approved. 

So a lot of firms want this and have been applying to the SEC to get one approved. 

The SEC has been delaying and delaying the decision. They’re now saying it’s not likely until January at the earliest — potentially even April. 

People are interested because they think this is going to beget a lot of Bitcoin buying. Because if you have a Bitcoin spot ETF, you need to own Bitcoin to back it. 

And so when that headline broke, even though it was fake news, Bitcoin spiked immediately to over $30,000. 

The news was immediately debunked and retractions were printed. But that headline is going to be real at some point in the next three to six months. It gives us a taste of what Bitcoin would do when that happens just in the first couple of hours, let alone as those funds really go about the buying that's needed to own the Bitcoins they need for their funds.

You also have a Bitcoin halving (or halvening) that is slated to occur in early 2024. That's when the rewards that the miners get are cut in half. As our resident crypto expert Chris Curl will tell you, and has written about a lot to his readers of Crypto Cycle, the price of Bitcoin has risen significantly after previous halvings. 

These catalysts, combined with central banks and governments wanting to get involved in the digital currency space, are bullish for the crypto complex. 

They are lining up and Bitcoin is already looking pretty strong. 

We took the opportunity to put together a new educational series for you to get ready for a new crypto bull market. We're calling it the Million Dollar Crypto Club. It’s a free educational series that you can sign up for here. 

And we're doing a couple of things. First, we're giving away a couple of premium reports that Chris has written just for signing up to this educational series. That way you can get up to speed on all the major coins, exchanges, and other important info. 

Second, we put together an entire two-week email series with case studies on different coins that Chris has had success with. 

It's free to sign up for, we're calling it the Million Dollar Crypto Club. Just click here to be added to the list. 

You’ll also have the chance to follow along as Chris takes $50,000 and attempts to turn it into $1 million over the next two years. 

I guarantee it'll be worth your price of admission. 

So click here to sign up for the list today.

Nick Hodge
Publisher, Daily Profit Cycle