Crypto: Good & Bad News
These are key dates that anyone invested in crypto needs to be aware of, because, while october started off very green, like we expected, these have the potential to explode. The market push bitcoins price, all the way up to a hundred thousand dollars per coin, but they also have the potential to crash the market entirely. But before we get into that um, it says still 72 percent of you guys watching are still not subscribed. So if you enjoy short form, concise, no bs content that doesnt waste either of our times well make sure to like the video and subscribe to the channel also make sure to check out our free discord, as our patreon is completely sold out. Anyways first thing is that the sec just came out and extended four bitcoin etf deadlines by 45 days. The way this works is that whenever a bitcoin etf is submitted for approval, they can delay it up to three times, and the important thing here is that the sec has already delayed multiple bitcoin etfs multiple times theyve had about a dozen bitcoin etfs and theyve delayed. Most of these already over two times and now we just had a new report that came out saying that the sec has extended the deadline for four new bitcoin etfs, the globalx bitcoin trust, valkyrie, xbto, bitcoin, futures fund, wisdom, tree bitcoin, trust and crypto kryptoin, bitcoin etf. These are all rescheduled for about mid november to about mid to end december of 2021.
. The important thing here is that a bitcoin etf can be a major catalyst for the crypto market. Everyones wondering well whats going to be the main reason. The main catalyst thats gon na put trillions of dollars into crypto, and this is exactly it. A bitcoin etf could see us immediately have hundreds of billions of dollars. If not trillions of dollars pour into crypto from institutional investors, so we need to keep an eye out on this, but with regards to other bitcoin etfs. While all of these were just recently delayed for new ones, there has been a bitcoin etf that was announced months and months ago, and it has already been delayed three times and that is the ben vanek. Bitcoin etf weve talked about this in previous videos, but this is the etf that i think could be the first bitcoin etf to be approved, which is on november 14th. Vanic bitcoin etf has already been delayed three times, so this is the last chance if they dont they either they have to make a decision on november 14th, whether or not theyre going to prove it or reject it. So that is definitely going to be a key date, because i think when we see one approved were going to see many approved and thats going to allow for hundreds of billions of dollars from institutional investors to come in so for bitcoin etfs were just delayed again. The key date we need to keep an eye out for is november 14th.
That will be the first bitcoin etf. That i think, has a good chance of passing. Second thing going on with regulars, which is also pretty good. News is from gary gensler. Gary gensler came out and said that he reiterated his support for bitcoin futures etfs, these arent exactly the same as um many of the bitcoin etfs that are submitted right now, but he has reiterated his support for bitcoin futures etf, which is a positive sign um. This attracts a lot more investors in the market. This is a lot of optimism and positive sentiment continuing to flow in the market, and he also has come out and said that you know we need to have regulations in place. This is nothing new from gary ginsler. He always talks about regulations. He always says how he likes crypto. He likes the technology. There just needs to be protections in place to make sure people cant get scammed. People cant um, get came down to millions of dollars, which has happened multiple times in the past, and i agree i think, regulations while people in crypto dont really seem to like them, ultimately its going to be what allows for the big money players to get involved. Remember, bitcoin etfs thats how a lot of the big money whale accounts institutions are going to start investing and those are, you know some sort, some form of structure, legislation and um itll be important, just moving forward to get more regulations.
Last thing is going to be with a major thing that could potentially derail the bull run in crypto, and that is with the debt ceiling. If the debt ceiling is not raised by october 18th, well, the u.s could be in big trouble. Debt ceiling is essentially saying how much money the u.s borrows in order to pay their bills. If the debt ceiling isnt raised the u.s cant borrow money, they cant pay their bills. That becomes a problem not only for the stock market, not only for people on social security, not only for people um on medicare, but it could become a problem for the markets. So we need to keep an eye out on this. Hopefully they raise it its expected that they will, but we need to keep an eye out on what is going on with janet yellen, what is going on with the government by october 18th and if they raise this debt ceiling. Personally, i think that if we see some issues, it could actually attract more people to crypto, but the widespread impacts of this debt ceiling could be much bigger than anyone expects for all markets, both stock market crypto. So we just need to keep an eye on that.