'Sad And Amusing:' Analyst Says 'Everyone, Including Their Mothers' Will Want Bitcoin Only At $300K But Not Now
Portfolio Pulse from Mehab Qureshi
Crypto analyst 'Sunnydecree' has highlighted the reluctance of individuals to buy Bitcoin (BTC) at its current price of around $26,000, despite major asset managers like BlackRock filing for a Bitcoin ETF. The analyst noted that people tend to show interest in purchasing Bitcoin only when its price skyrockets. This comes as the SEC has delayed its decision on the approval of the nation’s first Bitcoin-focused ETF until October.
September 04, 2023 | 11:30 am
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NEUTRAL IMPACT
The reluctance of individuals to buy Bitcoin at its current price, despite interest from major asset managers, could potentially impact its price. The delay in SEC's decision on Bitcoin ETF could also influence its price.
The reluctance of individuals to buy Bitcoin at its current price could limit its upward price movement. Additionally, the delay in SEC's decision on the approval of the nation’s first Bitcoin-focused ETF could create uncertainty, potentially impacting its price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100