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re: Official CryptoTalk Thread
Posted on 12/20/23 at 8:53 pm to 98eagle
Posted on 12/20/23 at 8:53 pm to 98eagle
I don’t see etf approval itself causing the parabolic rise.
I do see SEC actions causing the “tank” after this bull run though. There’s always a catalyst and this cycle it’s going to be the SEC.
I do see SEC actions causing the “tank” after this bull run though. There’s always a catalyst and this cycle it’s going to be the SEC.
1
Posted on 12/20/23 at 9:02 pm to Hateradedrink
quote:
I don’t see etf approval itself causing the parabolic rise.
I respect your opinion and perhaps you are correct. In my opinion there is going to be a massive amount more demand from both retail and institutional investors, thus significant gains for Bitcoin. For instance, I can't figure out how BlackRock is going to acquire massive amounts of Bitcoin without causing upward pressure on Bitcoin's price. We shall see.
Posted on 12/20/23 at 9:17 pm to 98eagle
I agree with your premise, I’m just unsure when it will all take place and at what rate.
There are still a lot of people believing it won’t go >70k until late 2024 and they will sell very hard into any rally.
That said, every cycle has winners and losers, and perhaps the losers this cycle will be those who underestimated it. Last cycle, it was those who over-estimated it.
There are still a lot of people believing it won’t go >70k until late 2024 and they will sell very hard into any rally.
That said, every cycle has winners and losers, and perhaps the losers this cycle will be those who underestimated it. Last cycle, it was those who over-estimated it.
Posted on 12/20/23 at 9:31 pm to 21JumpStreet
quote:
Stx on stx
Posted on 12/20/23 at 10:51 pm to Hateradedrink
quote:
I agree with your premise, I’m just unsure when it will all take place and at what rate.
I just can't fathom BlackRock waiting for Bitcoin's price to go down after the approvals. There's going to be a huge scramble for Bitcoin in my opinion. I can't see BlackRock, Fidelity, etc sitting on their hands waiting for the best opportunity to buy massive amounts of Bitcoin for their ETFs. There will be a huge demand from their customers, hundreds of fund managers, etc. It's plain as day to me. Some may wait, but the herd will take off and leave them in the dust, in my opinion. Even if there is a dip, it won't last long and it will be fun watching the scramble for Bitcoin taking place.
This post was edited on 12/20/23 at 10:52 pm
Posted on 12/21/23 at 5:44 am to 21JumpStreet
quote:did you mint STXS the other day?
Stx on stx
Was not prepared and only got 5k.
Could have done some real damage there and gotten 100k+.stxs selling for $0.4-$0.5 per.
quote:I actually wrote it off after the FTX bullshite. But glad I didn't sell what I had.
should have bought more SOL, and I bought a frick ton of SOL.
And the airdrops have been very nice. Farming a few more.
Also started trading sol shite coins. It's like a casino. People are going to get fricked there for sure. But in the meantime...
Posted on 12/21/23 at 5:57 am to 98eagle
quote:
There will be a huge demand from their customers, hundreds of fund managers, etc.
As the resident Bitcoin Maxi here, I disagree with this.
I think most people that want it, already have it.
I think this is a sell the news event BUT once the marketing machine fires up and we start educating the normies what Bitcoin is, THEN we go up.
Posted on 12/21/23 at 6:18 am to I Love Bama
If, and it's a big if for me, there is a sell the news event, it is very short lived. I don't think there is a sell-off. I think it's up-only.
There are massive amounts of boomers and older Xers that exclusively use your average financial guy in a three-story building in a suburban office park to manage their money. I agree with you on the marketing aspect. As soon as few talking heads on CNBC or Fox News say you should diversify your portfolio with Bitcoin, it's game on.
There are massive amounts of boomers and older Xers that exclusively use your average financial guy in a three-story building in a suburban office park to manage their money. I agree with you on the marketing aspect. As soon as few talking heads on CNBC or Fox News say you should diversify your portfolio with Bitcoin, it's game on.
Posted on 12/21/23 at 6:38 am to BottomlandBrew
For sure. Summer of 2024 is going to be WILD
Posted on 12/21/23 at 8:34 am to I Love Bama
quote:
As the resident Bitcoin Maxi here, I disagree with this.
I think most people that want it, already have it.
Why would BlackRock, Fidelity, etc., even bother with starting Bitcoin Spot ETFs if there is just minor additional demand for it? There are hundreds of fund managers and hedge fund managers that will add these ETFs to their portfolios as soon as these are available.
Posted on 12/21/23 at 8:41 am to 98eagle
If they wanted exposure, they could just add microstrategy.
I hope I am wrong obviously.
I hope I am wrong obviously.
Posted on 12/21/23 at 8:50 am to I Love Bama
True but the difference is that BlackRock, Fidelity, etc. will be buying (and trying to buy) an order of magnitude more Bitcoin than Microstrategy. Plus there are plenty of other countries that are going to approve their own Bitcoin Spot ETFs. They will scramble as well once the FOMO begins.
Posted on 12/21/23 at 8:52 am to 98eagle
Other countries already have spot ETFs.
Posted on 12/21/23 at 8:53 am to BottomlandBrew
quote:
I think it's up-only.
This always has a good track record.
Posted on 12/21/23 at 9:00 am to TigerDeBaiter
quote:
Other countries already have spot ETFs.
True, a few do, but China (with over a billion people), Argentina and other countries do not currently have Spot Bitcoin ETFs. Hong Kong appears to be willing to accept Bitcoin and other crypto trading now. The Qatar Sovereign Wealth Fund is rumored to want to get into Bitcoin. They are about 68 times the worth of Microstrategy who is currently the largest institutional investor of Bitcoin in the US.
This post was edited on 12/21/23 at 9:02 am
Posted on 12/21/23 at 9:22 am to 98eagle
quote:
I can't figure out how BlackRock is going to acquire massive amounts of Bitcoin without causing upward pressure on Bitcoin's price. We shall see.
The same way they aquire massive positions in everything else. If Blackrock does indeed get an etf and needs to build a position, it will squeeze out, short and suppress the price to their liking. People are so incredibly naive to think they are just going to pay up. This is twatter bro nonsense talking points.
Posted on 12/21/23 at 10:15 am to 98eagle
Speaking of other countries, on Fox Business News on Varney & Co., it was just said minutes ago that France is now allowing Coinbase to do business there. They said that President Macron wants France to be a hub for Crypto.
In other country news out today (on CoinTurk News about 30 minutes ago) Ethiopia becomes a new hub for Russian Bitcoin Mining expansion.
Just sit back and watch more and more countries follow suit in the upcoming months.
In other country news out today (on CoinTurk News about 30 minutes ago) Ethiopia becomes a new hub for Russian Bitcoin Mining expansion.
Just sit back and watch more and more countries follow suit in the upcoming months.
This post was edited on 12/21/23 at 10:28 am
Posted on 12/21/23 at 10:34 am to castorinho
I didn't. I need to get on doing stuff like that. I usually keep things simple and hodl. Mad about sol too 
Posted on 12/21/23 at 10:47 am to TigerDeBaiter
Bitcoin is a different beast, though, than anything else that black rock has tried to manipulate.
Truly global and no one needs anything special to buy it.
Truly global and no one needs anything special to buy it.
Posted on 12/21/23 at 11:01 am to castorinho
Shill me your sol shite coins?
I’m on sol still but bags are low
I’m on sol still but bags are low
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