There's a ton of talk going on right now about how everyone feels there's a very high probability of getting at least $BTC ETF's approved as early as this coming Wednesday. That means in just 3 days we could very well see our first spot bitcoin ETF.
This mainly comes from a lot of new filing work that's been happening and meetings between the SEC and places like BlackRock.
I'm just over here thinking the SEC chairman Gary has got to be crawling in his skin right now being that he's so anti crypto and is not pretty much being forced by the courts and the government house to start acting like a real SEC chainman and put personal thoughts and feelings aside. Which is exactly how it should be done. No one person should ever how the power to do or stop anything instead a collective of people is far better off.
I almost feel like it was this time last year that they once expected ETFs to be approved. But I can't recall how long it's actully been. Has it really been a year since we started down this journey or am I miss remembering things?
Here's my general thinking and why I feel like sell the news might be a thing here. Bitcoin since around the $30,000 mark has been mainly hyped up about this possible Bitcoin ETF approval, every time it gets rejected there was a hard sell off and now we have the Ethereum spot ETF which is trying to be approved as well. Just the speculation of that has taken Ethereum from a $1,500 token to now well over $2,000.
But you have to think to yourself. The main people a spot priced ETF targets is wealthy people already. Those who have extra money to toss around. So don't you think they have already found a way to invest into crypto already instead of waiting for a ETF from the SEC for approval.
To me these people are already priced in and have been.
What's really going to matter is if these spot ETFs are going to be open to things like 401k accounts. With just 1% of 401k money being tossed into a Spot BTC we very well could in fact see a massive jump at that point as it would inject billions of dollars into the market cap. Push that to a very possible 5% and you're inching closer towards a trillion dollars. This would in fact most likely spark fomo further increasing the prices and brining us back close to that 3 trillion dollar market cap.
Toss in hyper inflation we have had in the last two years and increasing competition, development and all those goods and the natural thought is the market cap very well could reach 5 trillion in the next bull run which could be sparked by a spot ETF news investments. That would essentially take us to that $110,000 BTC price point which I've been predicting since the last bull run to happen in the next bull run.
Of course it's anyone's guess at this point. Things like dollar cost averaging can help but personally what I normally do which has worked very well for me is to dollar cost average now into a high but safe stable coin APR which is paying around 5%. When the markets sell hard like they did just a few days ago and everything feels doom and gloom that's when I make the injection of money.
So far at least for me these moves have done better then trying to dollar cost average. Instead when everyone's mentality is to sell I take the emotion out of it and buy.
I bring this up because of the point of sell the news buy the hype. I feel like we have hit max on the buy the hype and while we might get a spike IF and when a spot ETF is approved I also feel like we are going to get a hard sell out of it and when that happens I'm going to have my stables ready!
What are you thoughts on a spot ETF? Is it already priced in and will we get more sell pressure in the week after the news or will it spark us into a never ending bull run where $42,000 BTC will never be seen again?
