Bitcoin ETF approval from Securities and Exchange Commission (SEC) next week can help BTC to reach its real peak, said CNBC’s Mad Money host Jim Cramer. He added that after this happens then I may cash out half of my Ethereum stash.
Bitcoin ETF approval can help BTC:
Jim Cramer, the host of Mad Money on CNBC has spoken to Andrew Sorkin, the host of the Squawk Box show, about the Bitcoin gaining its real peak. Bitcoin ETF approval from SEC next week can help Bitcoin to reach its real peak, Cramer told Sorkin. He further said that if BTC reaches its real peak then I can cash out half of my Ethereum stash. Cramer hinted out that we may see not just one but four Bitcoin ETF approval from SEC.
He cleared his stance by saying that people are running ahead of possible Bitcoin ETF approval. He added:
There’s a possibility a lot of people feel that you can get a short-term peak, or maybe a real peak as people just run ahead of the ETFs,” says jimcramer on a Bitcoin ETF approval. “I might cash out half my ETH.
The price of BTC rises to a recent couple of months high of $60k which happened after when Bloomberg released a report. This report explained that SEC has not objected to even one Bitcoin ETF approval submitted to it earlier this year. They further claimed that this news has been confirmed by many sources close to SEC.
The media giant’s ETF analyst Eric Balchunas believes that the likelihood of Bitcoin ETFs getting the green light has now risen to more than 90 percent. Still, he is not ready to “close the case” yet.
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