π’ BREAKING: Hong Kongβs financial regulator has published guidelines for the approval of BOTH βin-kindβ and βcash createsβ Spot #Bitcoin ETFs! ππ§΅
This is arguably MORE bullish than the US ETFs, as most of the volume in #crypto comes from the Asian markets.
And secondly, the approval of βin-kindβ refers to the buyers being able to redeem the ETFs for the actual underlying asset of #Bitcoin
This will add to the fact that exchange reserves for $BTC are dropping, both long-term and short-term buyers are accumulating, and that after the halving, we will have much less #Bitcoin available per day in market.
In summary, supply will drop drastically and demand will inc.
All of these factors are incredibly bullish, and increase the probability of a super cycle in 2024!
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December 28, 2023 at 2:31 PM