Knowing how volatile the crypto space is, it is very difficult to determine whether we have a bullish or bearish market in the fourth quarter. Since the market has witnessed huge gains from 80.89% And 210.13% In the third and fourth consecutive quarters of 2017. Meanwhile, it also lost 40.14% And 18.08% On the same time frame in 2014. However, we have brought some interesting news, which could give a massive boost to the price of Bitcoin this quarter.
Bitcoin price boosters!
Bitcoin ETFs are coming!!!
The Securities and Exchange Commission (SEC) on Friday extended deadlines for decisions on whether or not to regulate Bitcoin ETFs. Including the Global X Bitcoin Trust, the government entity has suspended four applications.
Official reports from the SEC say that the decision to approve Global X Bitcoin Trust It was set on November 21. decision on Valkyrie XBTO Bitcoin Futures Fund It is scheduled for December 8. Conclusion for WisdomTree Bitcoin Trust scheduled for December 11 and Krypton Bitcoin ETFs Set December 24th session.
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Texas becomes the new capital of Bitcoin mining!
Texas is the ninth largest economy in the world and the country is showing a strong willingness to become the world leader in Bitcoin. There is a drive to bring more bitcoin mining to the country, as dozens of Texas giants are stepping up to invest in it.
If this continues, the country could become a new bitcoin mining powerhouse. Because Texas has massive renewable energy resources and strong political desires to power mining.
Moreover, Texas is one of the cheapest states in the US to consume electricity which makes it an ideal destination for bitcoin mining.
Miami embraces Bitcoin!
Miami is working on a plan to allow bitcoin tax to be paid. mayor of miami, Francis X SuarezHe stated that the procedures had begun and that his team would submit the application in October. After implementation, Miami residents will soon be given the option to pay Taxes with BitcoinMayor says.
Meanwhile, the crypto space is waiting to see BTC price action as several events are scheduled for October. At the time of writing, the most valuable asset is trading at $47,760. If the price breaks the resistance around $48K, we could see a rapid price rally. If we fail to maintain this level, there will be a good buying opportunity between $42.5K-$45K.
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