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206 sats \ 3 replies \ @crrdlx OP 28 Sep 2023 \ parent \ on: ETF pressure bitcoin
That's a really fair take, pretty much why I wrote about what my brain keeps telling me. The numbers involved with an ETF I think are just different. Admittedly, I don't know any off the top of my head but when I hear the numbers thrown around, they're huge, huge as in GDP of the USA, then China, then the Blackrocks (as far as money under management).
You make good points. I know a huge post spot ETF rally would probably bring a lot of people into the space. But most of them will head for the exits come next bear market. Couple that with Larry Fink and BlackRock, who I don't trust and whose government connections run deep, and I have trouble seeing this as a positive.
Maybe I'm overly negative.
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I'd say you're spot on with how people will run when the bear comes. No doubt the "new money" from newbies will have cold feet when times get shaky. How many times have we seen this?! :)
Regarding Fink, I don't know too much about him, just that there's a large quantity of money involved.
I guess I'm thinking more long term. I see an initial boom, then a slow and maybe a pull back, then a bear and run. Then a pause. But as things grow more common and normal, really don't see a trend away from bitcoin over the years, but a trendline that moves toward more investment, even if slowly.
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I would agree with everything you said, but my one lingering fear is a coordinated government push to suppress the price long term like with gold and the big NY banks. It would be tougher to pull off with bitcoin, but they may try. Powerful interests will do everything possible to keep the fiat ponzi going.
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