Bitcoin isnโt the wildly volatile coin it used to be ๐ฅ๐๐. Why? Because Bitcoin ETFs have changed the game completely ๐๐.
Blockwareโs Mitchell Askew says the arrival of ETFs has broken Bitcoinโs old cycle ๐. Now, after a price surge, we may see stability instead of the typical boom and bust ๐โก๏ธ๐โก๏ธ๐.
Askew believes in this post-ETF era, Bitcoin will steadily climb ๐ toward $1,000,000 ๐ต per BTC. Fluctuations will slow down ๐ข, become more predictable ๐ฎ, and attract big institutions ๐ฆ.
(Good news for institutions... maybe not for profit-hungry traders ๐ซค๐ธ.)
Bloombergโs Eric Balchunas agrees โ with less volatility, institutions feel more confident to invest ๐ช๐ฅ.
But those traders waiting for โcandles to the moonโ ๐ฏ๐ might be left behind. The crazy bull runs may now belong to the past ๐โณ.
Meanwhile, instead of buying Bitcoin directly, money is flowing into funds that hold BTC for investors ๐ผ๐ช. This shows crypto is merging with traditional finance ๐๏ธ๐.
๐ For example, BlackRock already holds around 3% of all Bitcoin ๐. But some worry this centralization could bring long-term liquidity risks โ ๏ธ๐ง.
Even though over $50B+ has poured into Bitcoin BTFs ๐ฐ, it might also slow down altcoin activity and on-chain movement ๐งโ๏ธ.
โก๏ธ The result? Bitcoin could shift from a high-volatility profit engine ๐ฅ๐ธ to a stable store of value ๐ฆ๐. Great for institutions โ but fast-money traders will need to rethink their strategies ๐๐ง .
#bitcoin #BitcoinETF #4yearcycle
๐ Source: Coindoo