We wrote a report a report earlier this week that the institutional money is coming and it seems all the pieces are slowly being put in place with the SEC now beginning proceedings to determine whether or not to allow Pro Shares, a very reputable exchange traded fund to introduce two BTC ETF’s.

We believe this could very likely be the catalyst to begin a new bull market. As we have said before, it opens up the gates for institutional investors to invest in bitcoin through avenues they are already accustomed to without the need to own their own private keys – an issue that many institution’s risk management teams are worried about.

Like anything, we will believe it when we see it, and Bitcoin is still firmly in a downtrend, but we see this as a buying opportunity to accumulate bitcoin at prices many thought we would never see again.

In the meantime, we will sit tight and observe and will inform you all when we believe the time is right to jump back into the market, guns blazing.