Connors Research Traders Journal (Volume 26): New Trading Opportunities Are On The Way
For good or bad, cryptoassets are here to stay.
For experienced traders, they may provide an excellent opportunity in the future to trade for a multitude of reasons, including the fact that the majority of cryptoasset traders are retail speculators and quasi-gamblers from around the world. Most seasoned trading veterans know from experience that when new markets appear that are dominated by speculators, potentially profitable opportunities arise.
Most readers of this Journal focus on equities, ETFs, and options. Also, most readers of this Journal are more sophisticated and usually have healthy edges over the speculators.
Up until now, the only way to gain exposure to the cryptocurrency markets has been to buy the crypto direct or through Bitcoin futures. It now looks like this is going to change as multiple sources are reporting that Bitcoin and possibly other cryptoasset ETFs are going to be approved by the SEC within the next 6 weeks. If this is true, this is good news because the opportunities to trade them will be abundant.
Here’s one of many articles published in the past 48 hours about these ETFs coming public. This is something we’ll stay on top of because whenever new products are brought to market, trading opportunities become abundant, especially right after they’re released.
I hope you enjoyed and learned from this issue of the Connors Research Traders Journal.
Enjoy your trading!
Connors Research LLC