{"id":18208,"date":"2021-10-15T08:19:45","date_gmt":"2021-10-15T06:19:45","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=18208\/"},"modified":"2021-10-15T08:19:45","modified_gmt":"2021-10-15T06:19:45","slug":"why-is-bitcoin-rising-part-2","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/why-is-bitcoin-rising-part-2\/","title":{"rendered":"Why is bitcoin rising? Part 2"},"content":{"rendered":"\n\n\n
\n

Gold<\/span>\u00a0 1790,74
\n(-0,10%<\/span>)<\/h4>\n<\/th>\n

\n

EURUSD<\/span>\u00a0 \u00a01,1589
\n(-0,08%<\/span>)<\/h4>\n<\/th>\n

\n

DJIA<\/span>\u00a0 34366,50
\n(+0,34%<\/span>)<\/h4>\n<\/th>\n

\n

OIL.WTI<\/span>\u00a0 80,415
\n(-0,20%<\/span>)<\/h4>\n<\/th>\n

\n

DAX<\/span>\u00a0 15261
\n(+0,02%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n

The first cryptocurrency has risen 30% in the last month, coming close to the $59,000 per BTC level. There are 2 reasons contributing to this move. The day before yesterday we told about one of them. Today the second one is on the line.<\/p>\n


\nBTC<\/strong><\/p>\n

\"BTC\"<\/p>\n

Many of us have probably heard that BTC is rising in value amid talk of the approval of the first cryptocurrency ETF by the US Securities and Exchange Commission (SEC). The latter has refused for 3 years to allow at least a dozen different companies to launch ETFs.
\nApparently the situation has now changed. This is evidenced by 2 factors. First, SEC Chairman Gary Gensler announced that it is possible that an ETF will be allowed to launch, based on bitcoin futures already traded on the Chicago Exchange in the US.
\nAnd the second factor is the rapid growth of BTC. Apparently, insiders are buying the first cryptocurrency in huge volumes, as they know about the approval of a bitcoin ETF launch in the near future.
\nWhy is this so important for the market? The fact is that a huge number of potential investors in the first cryptocurrency are still standing on the sidelines. They are simply not ready to put money into cryptocurrency exchanges. Or to open cryptocurrency wallets. These are huge risks. An exchange can be hacked by hackers. And the cryptocurrency wallet could be zeroed out through phishing or its password could be lost.
\nThe launch of ETFs removes these risks. Investors will be able to buy “paper bitcoin” the same way they buy “paper gold” or ETFs on stocks. And that’s hundreds of millions of investors around the world.<\/p>\n

What’s more! For many, the following strategy becomes available. When once a month from each paycheck, a portion of the money is put into a specific ETF, such as SPY. The strategy is extremely popular. It ranks first in terms of simplicity and the path to financial independence.
\nNow let’s imagine what would happen if 10 million investors started buying $100 or $1000 ETFs once a month. That’s $1 billion or $10 billion. And so every month, year after year. The numbers are simply astronomical. In such a scenario, a price of $1 million for 1 BTC in 20 years doesn’t seem too high anymore.<\/p>\n

14.30 US retail sales for September
\n16.00 US University of Michigan Consumer Confidence Index<\/p>\n

\n

Important Notes on This Publication: <\/small><\/p>\n

The content of this publication is for general information purposes only. In this context, it is neither an individual investment recommendation or advice nor an offer to purchase or sell securities or other financial products. The content in question and all the information contained therein do not in any way replace individual investor- or investment-oriented advice. No reliable forecast or indication for the future is possible with respect to any presentation or information on the present or past performance of the relevant underlying assets. All information and data presented in this publication are based on reliable sources. However, Bernstein Bank does not guarantee that the information and data contained in this publication is up-to-date, correct and complete. Securities traded on the financial markets are subject to price fluctuations. A contract for difference (CFD) is also a financial instrument with leverage effect. Against this backdrop, CFD trading involves a high risk up to the point of total loss and may not be suitable for all investors. Therefore, make sure that you have fully understood all the correlating risks. If necessary, ask for independent advice.<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

Gold\u00a0 1790,74 (-0,10%) EURUSD\u00a0 \u00a01,1589 (-0,08%) DJIA\u00a0 34366,50 (+0,34%) OIL.WTI\u00a0 80,415 (-0,20%) DAX\u00a0 15261 (+0,02%) The first cryptocurrency has risen 30% in the last month, coming close to the $59,000…<\/p>\n","protected":false},"author":37,"featured_media":17595,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-18208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nWhy is bitcoin rising? 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