Bitcoin ETFs Just Had Their Worst Month Ever. Here's Why I'm Not Worried About Bitcoin.
Bitcoin ETF inflows are likely to return as soon as the price of Bitcoin stabilizes.
Overview
One of the most important indicators for tracking the future price of Bitcoin (CRYPTO: BTC) -- the flows into and out of the spot Bitcoin ETFs -- is now flashing bright red. In June, Bitcoin ETFs had their worst month ever, as investors pulled out $4.3 billion.
Even worse, this was not just a one-day phenomenon. Steady outflows occurred on 19 of the 22 possible trading days in June, the sign of a much broader sell-off in Bitcoin.
Details
If you're thinking about investing in Bitcoin, this is obviously a source of much consternation. But there's a good reason to think that this is just a short-term blip on the radar and not a long-term cause for concern.
Source
Originally published at www.fool.com.