Bitcoin, October could be the decisive month

The International Monetary Fund (IMF) downgraded the world economic growth outlook, by spurring risk-off trading across the globe. This pushed Bitcoin to a high of $6,656.
Naeem Aslam on Forbes explains that Bitcoin needs some sort of a blessing to revitalise the rally. This could come in the form of an ETF approval from the U.S. Securities Exchange Commission (SEC). The department has invited parties and public people to share their views on bitcoin ETFs on October 26th, 2018.
This is a positive sign because it shows that the department wants to gauge the landscape. If the public shows support towards an ETF, it is highly likely that the department will accept an actual application which satisfies their criteria. In other words, SEC’s softened stance towards the crypto industry could bring the bull rally that crypto investors have been longing for since last year.