Written by: crypto_picks

Published on: Aug. 22, 2018, 8:59 p.m.

Member since: Aug. 20, 2018

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There Will Be Plenty Of Time To Buy Bitcoin And Altcoins. Right Now Is Not It.

![Bitcoin][1] There will be plenty of time to buy Bitcoin. Right now is not it. For starters, Bitcoin ETF applications pending with the SEC, will likely to be declined this month. This should push any hopes for a Bitcoin ETF about at least 6 months into the future (given the reasons for the denials, there is a lot of lobbying left to be done by the Bitcoin community with our friends at the SEC). You can read more about the upcoming decision [here][2] Also, Bitcoin real usage and crowd interest are not going anywhere. Crypto has a tight, core community, and for those few people, Bitcoin and crypto news is everywhere. But the reality is that it isn't, at least yet. Just look at how Bitcoin is trending on google searches and you will get the picture. You can also confirm that trend by looking at bitcoin transactions which are basically flat for 2 years. The same applies to the Altcoins, which had a huge explosion based on hype last year but have not delivered anything of value to sustain the hyped valuations. So, for the foreseeable future, I do not see any real catalyst that will turn me into a buyer. I will keep my eyes open and I might be surprised if an ETF gets approved tomorrow. Maybe we will all get surprised, who knows! ![enter image description here][3] ![enter image description here][4] For Bitcoin in particular, as the Bakkt exchange, ETF's and more mainstream channels for owning and trading cryptocurrency develops, it will enable the foundation for a growing demand, which will, in turn, lead to higher prices. But for now, the ghost of an ETF decline is still more powerful than the hope of an ETF approval mid next year. So let the short term play out. Keep an eye on the new developments, volumes and the charts and be liquid when a good entry point appears. In my view that point will be between $4,500 and $2,500. ![enter image description here][5] [1]: https://i.imgur.com/uXLMbgl.jpg [2]: https://www.upvotenation.com/links/detail/271 [3]: https://i.imgur.com/lZzWsT2.jpg [4]: https://i.imgur.com/5DD9XXU.png [5]: https://i.imgur.com/36vzNCZ.jpg

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