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Started By
Message
Posted on 4/12/24 at 8:46 pm to boomtown143
quote:
Yikes
Typical reaction from most folks, but this is exactly how Bitcoin behaves. Bitcoin is still up over 50% year to date, and the post Bitcoin halving parabolic run hasn't even started. It never goes up in a straight line. It's always been volatile although the pullbacks are more muted and short lived now than ever in the past now that Bitcoin is a new asset class with massive worldwide institutional interest.
The impact of the US Bitcoin Spot ETFs has been spectacular for Bitcoin so far (with approximately $14 billion in in-flows so far) but it is just a drop in the bucket for what's coming. Wealth managers with $100 trillion in assets under management are just starting to finish their due diligence before adding the new Spot ETFs to their funds and unleashing their financial advisors to start recommending Spot ETFs for their clients portfolios.
I could go on and on. Just today the world's largest pension fund (Japan’s Government Pension Investment Fund) with a $1.5 trillion investment portfolio announced they are considering diversifying their strategy to include Bitcoin. This is just the beginning of numerous similar announcements this year. Hong Kong will have it's first Spot Bitcoin ETFs available for trading this month (most likely early next week) and it will be available for trading by Chinese investors in mainland China. I didn't realize it was happening so soon but found out today it is.
South Korea just elected Pro Bitcoin leadership that promised South Koreans can purchase and trade other countries Spot Bitcoin ETFs and also South Korean Spot ETFs can be developed. Too much news to post. Look for yourself. Singapore, Thailand, Germany, Switzerland and more. The dominoes are falling. A tsunami is on the way.
Also, smart traders who know how to profit off Bitcoin volatility by arbitrage trading derivatives, say Yippee instead of Yikes on a 5% pullback like today. Even then, simply holding Bitcoin long term and riding the rollercoaster for 12 to 18 months after the halving events have historically been very profitable. I'm way more positive this cycle than the last one. It's still unfortunate to see new Bitcoin investors overreact and buy & sell on emotion with weak hands.
Investing in Bitcoin or the Bitcoin ETFs this year is a gift for the taking.
This post was edited on 4/12/24 at 9:13 pm
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