No ETF Yet But A Glimpse Into What Might Be Coming
Today we got some wild news at least I woke up to it from a somewhat trusted source on twitter aka X. X was flooded with news about the first ever Bitcoin SPOT ETF to be approved.
This set off a flurry in the markets...
Even enough so to push the market cap up by a decent amount
But that's not all we saw other tokens drasticly increase in price at the same time. Mark ADA, SOL, Sitcoin SV, Bitcoin Cash, Litecoin and yes even the most hated of them all Tron.
We even saw hive spike for a moment but really little to no action there for our beloved community here.
So while there might have been foul play involved of which we may never know we did see a few things happen. The liquidation of many short orders against bitcoin.
I found this #meme to be enjoyable
What This Shows Us
Even though this ended up being a major false flag and a possible error in reporting it clearly shows us how much demand and bullish market there is behind a spot bitcoin ETF that would most likely trigger a major bull run.
Within just 30 minutes Bitcoin went from current levels of $27,000 up to nearly $30,000 and has now held a higher market cap then before in the matter of just 24 hours.
There's pure speculation news and last minute jump. This isn't even the big players who would be the real ones to dump billions into bitcoin if and when a true spot bitcoin ETF did get approved. I could see us testing upwards of $50,000 within a 24 hour period of time when the real news breaks which would send a flurry of everyone else into the market and FOMO the heck out of it. I honestly think we would see a $125,000+ bitcoin price if that happens in 2024.
*This article is for entertainment purposes and is not financial advice
Another thing that seems to be clear is that the DEFI space is pretty much dead. There are far too many hacks, security issues, rug pulls etc that I just simply don't see DeFi moving forward. That is unless it implements some type of safety wrap net type feature and centralizes it more. While DeFi sounds great and wonderful in practice it's been anything but.
What will will most likely see is centralized places like CoinBase and other companies like this launch their own staking services and APR services. Pretty much acting as a crypto bank and provide compeditive APRs compared to each other.
Now of course that got us into trouble in the last bull market as some companies kept offering higher and higher APRs higher than what the tokens were even paying out! Those should be lessons learned and major red flags as we roll into the next bull run. However in all cases we see people never learn and simply keep running to the get rich quicker and end up losing while maybe, just maybe if you're lucky you'll come out ahead.
Posted Using InLeo Alpha
Somehow we keep on drifting towards centralization aren't we?
My take regarding the etf is that it will probably be approved sometime in Q1 2024, near halving time.
Haha, I totally missed this. That meme is pretty awesome though. It's easy to imagine that things are going to be even crazier when it actually gets approved! Yeah, DeFi is just a hot mess. I kind of feel the same about it not working out this time around. It makes me a bit sad, but I get it.
This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators.
100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @bhattg by upvoting this comment and support the community by voting the posts made by @indiaunited.
Congratulations @bitcoinflood! You received a personal badge!
Thank you for participating in the Leo challenge.
You can view your badges on your board and compare yourself to others in the Ranking
Check out our last posts:
!PGM
!PIZZA
!DHEDGE
!KING
!CTP
!BEER
BUY AND STAKE THE PGM TO SEND A LOT OF TOKENS!
The tokens that the command sends are: 0.1 PGM-0.1 LVL-0.1 THGAMING-0.05 DEC-15 SBT-1 STARBITS-[0.00000001 BTC (SWAP.BTC) only if you have 2500 PGM in stake or more ]
5000 PGM IN STAKE = 2x rewards!
Discord
Support the curation account @ pgm-curator with a delegation 10 HP - 50 HP - 100 HP - 500 HP - 1000 HP
Get potential votes from @ pgm-curator by paying in PGM, here is a guide
I'm a bot, if you want a hand ask @ zottone444
Great effort King @bitcoinflood, libertycrypto27(2/6) is grateful for the work and dedication you put into this post. Your contributions are truly appreciated.
Creating quality content is truly admirable. @libertycrypto27 wants to show their appreciation by sending you 0.075 FT.
BTW! FT is the token of our game RAIDS, it will serve to make your NFTs stronger warriors and earn more rewards
This post has been selected for upvote from our token accounts by @libertycrypto27! Based on your tags you received upvotes from the following account(s):
- @dhedge.bonus
- @dhedge.leo
- @dhedge.ctp
- @dhedge.pob
- @dhedge.cent
- @dhedge.neoxag
- @dhedge.waiv
@libertycrypto27 has 10 vote calls left today.
Hold 10 or more DHEDGE to unlock daily dividends and gain access to upvote rounds on your posts from @dhedge. Hold 100 or more DHEDGE to unlock thread votes. Calling in our curation accounts currently has a minimum holding requirement of 100 DHEDGE. The more DHEDGE you hold, the higher upvote you can call in. Buy DHEDGE on Tribaldex or earn some daily by joining one of our many delegation pools at app.dhedge.cc.
$PIZZA slices delivered:
@libertycrypto27(10/15) tipped @bitcoinflood
Yay! 🤗
Your content has been boosted with Ecency Points, by @bitcoinflood.
Use Ecency daily to boost your growth on platform!
Support Ecency
Vote for new Proposal
Delegate HP and earn more