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Welcome back Crypto Chronicle readers!

The day we’ve all been waiting for is finally here - SPOT BITCOIN ETFS WERE APPROVED!

We are going to dive deep into what that means for every day investors as well as the future of Bitcoin and the entire crypto market. We are also going to give you a price target for the next Bitcoin cycle, it may surprise you!

Here's what we got on the menu today:

1. Bitcoin ETFs were just approved!

2. Funny meme

Bitcoin ETFs were just approved!

After SEC’s X account was allegedly compromised and gave the market a warning of what’s coming, the SEC has finally gave the official approval to a range of spot Bitcoin ETFs. This landmark decision marks a significant shift in the crypto landscape.

The SEC's approval list features heavyweights like BlackRock, Fidelity, Grayscale, and many others. This approval is a big deal, not just because it's been as eagerly awaited as the last season of a hit TV show, but because it opens up Bitcoin to a broader range of investors like trust funds, mutual funds... Think of it as Bitcoin finally getting a seat at the high rollers' table.

What Does This Mean for You, the Investors?

For the average Joe and Jane, this could be the start of a new investment journey. The approval of these ETFs means that investing in cryptocurrencies could become as mainstream as buying stocks.

The introduction of these ETFs could see a surge in institutional investment in cryptocurrencies especially if you are taking into account 88% of financial advisers are interesting in buying $BTC. However, it's not all rainbows and unicorns.

The crypto market is known for its volatility, and these ETFs will be no exception. So, while the doors to crypto investing have been flung wide open, it's wise to step through them with a dose of caution and a solid understanding of the risks involved. It’s also important to look at the fund fees so you are not surprised when you cash out.

We can all agree VanEck’s Bitcoin Fund has the best ticker - $HODL!

Short-term Pump or Long-term Rally

Let’s go back to 2004 when gold ETFs were first approved.

In the golden circle we can see the price rallied for a few days after the approval but crashed afterwards and consolidated before starting a years long rally. In 6 and a half years after the approvals $GOLD made 370%. Predicting the same would happen to Bitcoin this would mean $BTC would be at $4-5 trillion market cap and a price of $200k-$250k in 2030 (next cycle).

More Than just Bitcoin

While Bitcoin shines in the spotlight, Ethereum isn't far behind. Analysts are now betting on spot Ethereum ETFs getting the SEC's blessing by May, with a 70% chance of approval.

The approval of Bitcoin ETFs has set a precedent, so why wouldn’t SEC approve an Ethereum ETF. Anticipation is high, as this could mean a whole new level of mainstream acceptance and investment in the cryptocurrencies.

Looking Ahead

With the SEC's approval of Bitcoin ETFs and the potential green light for Ethereum ETFs, we're looking at a future where crypto becomes a standard in investment portfolios. It's an exciting time as we witness the evolution of the crypto market into a more mature and mainstream financial entity.

The future is brighter than ever but could come with a further crackdown from the SEC. They will try to get rid of pump and dumps, rug pulls, scams etc. which would completely transform the crypto space. Some will argue it’s for the best while others will say this will eliminate so many opportunities the space will become “boring”.

At the time of writing ETFs haven’t started trading yet but this will change today at 3:30 PM UTC+1.

Funny meme