we will unravel the things you need to know about delays from Cathie's Wood Ark Bitcoin ETF and will talk about important dates on this ETFs chronicles that will create volatility and moves in crypto market in coming time.
Unraveling SEC delayed Arks Spot Bitcoin ETF
Yesterday SEC has released documents where they've made decision to delay ETF and now will ask for Comments on Proposal to List Ark Spot Bitcoin ETF.
They've delayed it just to get whole committee on the same page. SEC isn't agreed yet but they're seeking for comments like open to hear on the proposal by crypto exchange and US than they'll make their final decision to list ark spot Bitcoin Etf if they agree's.
So, the next decision will be made after 35 days and to me this delay is a good sign.
A Delay is better than Denied
Cathie wood said before this decision that ETF might get pushed by SEC and exactly that happened make more sense.
And she also said more than one Bitcoin ETFs could approve at the same time.
So, delay sounds more like "we'll approve it but you've to be patient since there are more big players like BlackRock" etc who want to get ahead in this ETF race..so, we'll just for the right moment more like they're going to keep delaying.
But wait....
All Eyes on BlackRock ETFs
The next decision making day for crypto is coming in next month on 2nd of September which is more important than Arks or any other ETFs.
It's BlackRock and SEC will answer if they're going to get delayed like Ark or there ETFs will be listed.
If it gets delayed than the other one's are also going to be delayed in my opinion.
There are "4 Stages of ETFs Decision" so far it's first one and than there will be two more before final one.
These are the official and important dates you should remember and as far I think this ETFs deadline will reach to third deadline at least when a decision will finally come out.
Couple weeks ago I've shared some reasons why SEC might not approve SPOT Bitcoin ETFs you should give it a read too.
SEC Tactics and My Strategy in Crypto
I've made a clear strategy after seeing SEC tactics "Delay it as long as they can" before they approve or deny it in the end.
The crypto market will stay less volatile and will move sideways while tradfi and retailers are accumulating big time in this consolidation range... Completely ignoring trading and just hold for long term will be beneficial since if I trade "gonna get chopped by bulls and bears since longs and shorts are getting liquidated" every other day..
Avoid Frontrunning, I believe there's going to be someone who'll frontrun retailers so badly.
They'll create a situation where retailers will be convinced enough to sell their bags and than market will rally.
Two possibilities, A pump to $32k will create euphoria (like someone insider knows something - ETF might get approved) and retailers will buy than it's gonna dump straight to liquidate and made em sell their bags than resume buying by tradfi.
Secondly, we are gonna get straight up to $34k and there's no in between. If, it breaks that $32k range there's no brainer to do next thing.
Wrapping Up...
In the end I would love to hear your thoughts on my insights and where you agree or not in comments.
Still got plenty of time to prepare for the epic times coming ahead and don't get lost by "Macro events" it's much better to get a long term bag and be patient since all I'm seeing is one BlackRock ETF getting approval and next whole year is going to be straight up only.
But if things doesn't go as expected you should have plan for both positive or negative news. I've shared my views about it above and hopefully you found it interesting.
