Bitcoin spot ETF - Sell the News?
39 sats \ 4 comments \ @needcreations_ 3 Jan polls
Will the approval of the Bitcoin spot ETF lead to a "sell the news" event? Let's define this as at least a 10% dump in the price (before any significant gain).
yes, price will dump after ETF approval80.0%
no, the price will go straight up20.0%
5 votes \ poll ended
write
preview
this territory is moderated
related posts
11 sats \ 0 replies \ @bitcoin_rationalist 3 Jan
First it will dump. But then it will pump.
reply
0 sats \ 2 replies \ @Diablo 3 Jan
With the financial market already playing a role in Bitcoin, ETF approvals in the U.S. are probably already priced into the current price. The last two months have had tremendous growth with little news outside the halving getting closer.
It’s has also been mentioned that Blackrock will purchase $10,000,000 Bitcoin this week as well, which is not really that much for a company there size. Basically, 233 Bitcoins.
The end of the hype with an approval will probably lead to a sell off so people/companies can take profits.
Ultimately, the approval will lead to an all time high since the approval from the SEC will lead to basically an unofficial statement that the U.S. supports Bitcoin and have no intent to “attempt” to ban it as China tried in the past with mining.
reply
0 sats \ 1 reply \ @needcreations_ OP 3 Jan
Blackrock manages the money for 120 million people and you think they're only going to need to purchase $10 million in bitcoin? lol
reply
10 sats \ 0 replies \ @Diablo 3 Jan
If you read my statement, I said this week they planned to buy $10,000,000. I’m well aware of BlackRock’s as a whole. That statement was probably unnecessary, but the idea was that a few articles I read made it seem like that was a large sum of cash; in reality, it’s not for a company its size.
reply