The potential approval of a spot Bitcoin ETF in the United States has stirred considerable attention in recent weeks. Dan Morehead, CEO and founder of Pantera Capital, has now shared valuable insights on this matter in his latest “Incwadi yeBlockchain”, emphasizing the unique circumstances surrounding this event.
UMorehead uphonsela inselelo inkulumo-ze engokwesiko yase-Wall Street ethi, “Thenga amahlebezi, thengisa izindaba,” engabaza ukuhlobana kwayo komongo wamanje we-ETF. Ukhombisa ukuthi lesi sisho sadlala kanjani ngokomlando, ikakhulukazi ecaphuna ukwethulwa kwe-CME Futures kanye nokufakwa kuhlu komphakathi kukaCoinbase. Zombili lezi zimo zibonise ukukhuphuka kwamanani okubalulekile emakethe ye-BTC ngaphambi kwemicimbi yazo, okulandelwa ukwehla okuqinile, okuhambisana nokubikezela kwesisho.
I-Spot Bitcoin ETF Iwumcimbi “Wokuthenga Amahemuhemu, Thenga Izindaba”
In his detailed analysis, Morehead recounts how the Bitcoin market rallied dramatically, up to 2,448%, leading up to the CME futures launch. However, this bullish trend abruptly reversed on the very day the futures were listed, marking the start of an 84% decline into a bear market. He parallels this with the Coinbase public Uhlu scenario, where the market again surged, this time by 848%, reaching its peak on the day of Coinbase’s listing, only to be succeeded by a 76% drop.
UMorehead, ngokuthinta amahlaya, uyaphawula encwadini yakhe, “Ingabe othile ngicela angikhumbuze ngosuku ngaphambi kokuba i-Bitcoin ETF yethulwe ngokusemthethweni? Ngingahle ngifune ukukhipha ama-chips etafuleni."
Nokho, “lesi sikhathi sihlukile,” kusho uMorehead. Ngokuqhubekayo ehlolisisa umthelela ongaba khona we-ETF yendawo, ubeka ukuthi i-ETF enjalo izomelela isinyathelo esibalulekile ekutholweni. Ngokungafani nekusasa, athi "kuyisinyathelo esibuyela emuva," indawo i-ETF engashintsha ngokuyisisekelo ukufinyelela ku-BTC, ivule amachibi amasha abatshalizimali futhi iguqule umsebenzi wokufunwa kweBitcoin unomphela.
Ngokungafani nezehlakalo zangaphambilini zekusasa le-CME nohlu lwe-Coinbase, obe nomthelela omncane wangempela emhlabeni ekufinyeleleni kwe-Bitcoin, u-Morehead ukholelwa ukuthi isimo se-ETF sendawo sihluke kakhulu. Uyagomela, “I-BlackRock ETF ishintsha ngokuyisisekelo ukufinyelela ku-Bitcoin. Kuzoba nomthelela omkhulu (omuhle).” Umbono wakhe ukuthi i-ETF izokwethula i-BTC kumakilasi abanzi wabatshalizimali, iguqule ngokuphawulekayo isimo sokutshalwa kwezimali.
Drawing a parallel with the history of gold ETFs, Morehead suggests that Bitcoin ETFs could similarly revolutionize Bitcoin investment, expanding its appeal and legitimacy. He predicts a substantial shift in the demand dynamics for Bitcoin, akin to how gold ETFs altered the gold market.
Emazwini akhe okuphetha, u-Morehead ubuyekeza umbuzo wokuqala mayelana nokwethulwa kwe-ETF ukuthi umcimbi "wokuthengisa izindaba". Uyaphikisana, "Thenga amahlebezi, uthenge izindaba." Le nkulumo ihlanganisa inkolelo yakhe yokuthi, ngokungafani nezenzakalo ezedlule, ukwethulwa kwe-Bitcoin ETF ngeke kuholele ekuthengisweni kodwa kuzophawula ukuqala kwenkathi entsha ekutshalweni kwe-Bitcoin.
Ngesikhathi sokushicilela, i-BTC ihwebe ngo-$37,341.
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- Source: https://www.bitcoinnewsminer.com/spot-bitcoin-etf-is-a-buy-the-news-event-pantera-capital-ceo/
