Michael Wursthorn
speaker
1,567 appearances
29 recordings
1 series
first heard Jul 2017
last heard Nov 2021
Michael Wursthorn’s voice in public audio — every appearance, attributed to the second.
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Appearances
This represents really the first bit of positive news in that nearly decade-long effort.
So we've seen that really reverberate in the Bitcoin spot price market, seeing those prices go higher.
We've seen it in the futures market as well, where
where a lot of analysts said that a lot of the buying of Bitcoin futures contract was being motivated by the SEC's approval.
These funds themselves, as they get more money, they're going to buy more Bitcoin futures contracts too.
So there's a lot of expectations and a lot of interest going into this.
And that's what we're going to be looking to see is just how much of that is sustained after pro shares in these other funds start trading.
As more money goes into these ETFs, they're going to be buying more Bitcoin futures contracts.
That's going to push the price of those contracts higher.
And in essence, what we mean by a Bitcoin futures contract is that investors, if they're buying it, they're taking a gamble on whether the price of a particular asset, in this case,
Bitcoin is going to be higher or lower in the future.
If they're buying it, they're probably predicting it's going to go up.
So that's going to push the price of Bitcoin futures contracts higher.
What we've seen in some of the research that's come out over the last several years about the relationship between Bitcoin and those futures is that futures are an excellent price discovery tool.
They may not give the same performance, but they're a very good indicator of where Bitcoin prices are headed.
I mean, at least that's what we've seen so far.
Analysts are suggesting that if we do see those price of Bitcoin futures contracts go higher, it's going to encourage the Bitcoin market itself to continue to climb higher to possibly past its previous highs.
March really presented a unique opportunity for a lot of investors where they saw a 30% decline as an incredible buying opportunity where they can now finally get into this market, enjoy some of the gain.
Couple that with the fact that in some cases, people lost their income, their jobs were shut down, they were furloughed, they were maybe laid off.
Several investors talked about investing as filling a void for them, whether it was financial or just time.
Showing 141–160 of 1,567 · page 8 of 79
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