00:00When will we know if this spot Bitcoin ETF gets approved or not?
00:03So here's the timeline of when we could potentially get the answer to this ETF.
00:08Thanks to Jake Simmons for the breakdown on this, but the SEC has three tries to extend the timeline,
00:14once in August, September, and December.
00:16But their final deadline is February 23rd, 2024.
00:20That'll be close to Bitcoin's next halving, which will happen April 2024,
00:24when the cost to mine of Bitcoin estimated to double from the current price of roughly $23,000.
00:31Estimates range anywhere from $35,000 to $45,000 per coin in 2024.
00:36So in theory, that could be Bitcoin's floor price.
00:39Now, this is not a guarantee, but what it does tell us is that it's going to become
00:43extremely unprofitable for a lot of miners, and only the strongest ones will actually survive.
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