The recent announcement by the U.S. Securities and Exchange Commission (SEC) that it has rejected the latest Bitcoin ETF listing application by financial firm Wilshire Phoenix shows that Bitcoin HODLers have to bide their time prior to a spectacular price rise for Bitcoin.
I firmly believe that Bitcoin's price will not skyrocket before the first Bitcoin ETF approval by the SEC.
Why do I think so?
Because approval of Bitcoin ETFs by the SEC is equivalent to an endorsement by the U.S. government that Bitcoin is a viable financial instrument worthy of investment by fund managers across the world.
While waiting for the above turning point for Bitcoin, crypto participants may want to look at other opportunities in the altcoin sphere.
Pi Network presents such an opportunity.
It is run by graduates from a member of the U.S. Ivy League- Stanford University.
Currently, it is in the pre-listing phase and can be mined on your android phone.
Start mining now!
Posted via Steemleo