Bitcoin BTC Update July 24th
At the moment of writing the total market cap is 293 billion, with the price of BTC around 8.000 USD. This is the first time in two months BTC touched 8k.
BTC dominance is increasing heavily. Currently at an all-time high of 2018, at almost 47%. We saw a sharp increase of 10% in less than a month.
The reason why BTC is heating up is because the CBOE filed an application with the SEC for an ETF. An ETF is an "easy buy Bitcoin button". Millions of people can than easily buy BTC with a simple click without owning "real" BTC.
The results of the hearing will be made public on August 10th.
Traders and investors are anticipating an ETF on BTC. This is the reason why BTC is heating up. This could be the largest BTC bull run in history, if the SEC approves.
Our current strategy hasn’t changed over the last months: hold on to all positions, don’t over trade, and make sure to have some BTC in your portfolio.
Waiting can be hard sometimes, but it will be rewarded. We are at the beginning of something beautiful.