IMO this surprising decision by the SEC actually means that these proposals will be accepted in the end. A bit of logical analysis is needed here. The main concern is that the SEC is only looking for excuses not to allow spot ETFs. There are plenty of reasons for this. In that case, they would not have done so. They would take their time and re-announce a whole list of problems that cannot be solved. Then it wouldn't matter if Blackrock et al. named the spot exchange and what the details of the surveilance agreement were. The fact that they want these details is something well known to those who write articles and submit to journals. This implies that the article will be accepted if the author corrects the errors and omissions! Logically, this means that if Blackrock et al. provide the necessary information which satisfies the requirements in principle, the proposals will be accepted! I thnk that now the demand for regulated Bitcoin trade via ETF's is so strong in USA, that the time for excuses from the SEC has passed. P.S. It seems that BTCsessions and I are on the same page: Every other ETF: SEC sits on hands and extends deadlines until they must respond, then rejects them. SEC to BlackRock after like 2 mins: "Hey buddy, looks like your application is not quite adequate. Here's some hot tips so that everything goes perfectly for ya!" https://twitter.com/BTCsessions/status/1674782661108445185The question that people still aren't asking is, "Why are financial institutions filing for Bitcoin spot ETFs now, and not years ago?" and "Why is the SEC entertaining these now? Why not years ago?" "What's going on that they (i.e. Blackrock, Fidelity, etc.) suddenly care about this market?" The answer is simple: timing. Just wait until the equities market shitshow that hits early NEXT year. The spot ETFs will have already been greenlighted and approved by the SEC near the end of THIS year. Then it will all suddenly make sense to everyone (in hindsight, of course). |
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If I have to describe in one sentence the price action in 2019 and 2020 it would be "The battle for 10K". I'm just curious which will be the new 10K for 2023 and 2024 - 30K, 40K or even 50K? My guess is 40K.
My guess is $29,900 will become the new $9,900.
It'll go sideways for what seems like forever, occasionally teasing > $30k only to get squashed down over again and again.  ^^^^^^^^^^^ Hot take: We are here, and my estimate is that we will remain in this range, barting up and down, throughout 2023 and possibly into 2024. Don't see any reason on the horizon for that to change until closer to halving. There will be a number of 'head fakes' along the way. The only thing that could really alter this range bound is if Fed rates dropped by at least 2% or more. Oh lookie, we still here. Same price range, different day. Get used to it guyz.... Well at least they are consistent.  Fear not tho, we are in a long term accumulation phase... You must really wuv ur lil selfie, Torque.   You will keep citing how correct and wonderful you are, until all of a sudden you will go silent.. A lot of you guyz on this WO were saying we'd be at $50k or even $100k by now. So much so, you were nearly peeing yur lil' selfies. So. Deal. With. It.  |
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If I have to describe in one sentence the price action in 2019 and 2020 it would be "The battle for 10K". I'm just curious which will be the new 10K for 2023 and 2024 - 30K, 40K or even 50K? My guess is 40K.
My guess is $29,900 will become the new $9,900.
It'll go sideways for what seems like forever, occasionally teasing > $30k only to get squashed down over again and again. ^^^^^^^^^^^ Hot take: We are here, and my estimate is that we will remain in this range, barting up and down, throughout 2023 and possibly into 2024. Don't see any reason on the horizon for that to change until closer to halving. There will be a number of 'head fakes' along the way. The only thing that could really alter this range bound is if Fed rates dropped by at least 2% or more. Oh lookie, we still here. Same price range, different day. Get used to it guyz.... Well at least they are consistent. Fear not tho, we are in a long term accumulation phase... |
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I’m a bit numb to all the ‘crypto’ FUD. I’m not really sure what to think. I mean if it stops noobs buying crapto then that should be a good thing, right? Then again, it might turn noobs away from bitcoin too. Human beings are kinda dumb & lofs of people can’t disassociate bitcoin from crapto. In that case it’d be bad as how is the price going to moon without the influx of noobs to pump the price by FOMO’ing in after the halving? It’s only the US & bitcoin will always soak up FUD & continue going up but a hostile US to bitcoin isn’t a good thing. They’re going after crapto but will they stop there or go after bitcoin too? Too much to think about but I still think China banning bitcoin & COVID fallout robbed us of a truly parabolic 2021 run, the bull run was diluted. I don’t want it to happen again with a BS FUD campaign fucking us in the next bull run too. Enough of my ramblings for now, tick tock next block. Have a good weekend gentlemen.I'm thinking that the SEC is trying to close the door on bitcoin arbitrage and crapto bleed over. Possibly led by bad operators trading and PnD'ing crapto on their own exchanges, against their own users. But I'm just a dumb ape, so what do I know... |
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'Member these winners from Apple that nobody bought?   |
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Hot take:
We live in a strange dystopia where one of the biggest/most profitable Tech companies in the world announces their first new product in 9 years:
A VR headset that 99.9999% of society doesn't want, never asked for and will never buy.
Talk about tone deaf.
I'm starting the believe that the more RnD money you lose as a Tech company, the more profitable you actually become.
Bizarro World.
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If I have to describe in one sentence the price action in 2019 and 2020 it would be "The battle for 10K". I'm just curious which will be the new 10K for 2023 and 2024 - 30K, 40K or even 50K? My guess is 40K.
My guess is $29,900 will become the new $9,900.
It'll go sideways for what seems like forever, occasionally teasing > $30k only to get squashed down over again and again. ^^^^^^^^^^^ Hot take: We are here, and my estimate is that we will remain in this range, barting up and down, throughout 2023 and possibly into 2024. Don't see any reason on the horizon for that to change until closer to halving. There will be a number of 'head fakes' along the way. The only thing that could really alter this range bound is if Fed rates dropped by at least 2% or more. Oh lookie, we still here. Same price range, different day. Get used to it guyz.... |
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OT:I have to laugh at this latest pumping of Nvidia stock and the so-called coming "AI Revolution". What a load of horse shit. Same playbook as other Wall Street PnD's of the past. Remember the pumping of the 3D stocks (Stratasys and 3D Systems) around 2012-2013 during the so-called "3D Printing Revolution"? Remember the pumping of Overstock stock during the so-called "Crypto Revolution"? Remember the pumping of Peloton stock during the so-called "WFH and Exercise Revolution"? Yeah, Pepperidge Farm remembers. Wall Street must think that the public is completely stupid and gullible at this point. Which...well, they are.
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Universities in the U.S. have become expensive, glorified Resorts where you go fuck off/have fun for 4-5 years and that's pretty much it.
The education you receive is simply indoctrination into the system. The diploma is simply a merit badge for showing up to class.
I'm hearing that now in some universities, you have to pay thousands of $$ extra to get into L33t sororities and fraternities. Some students even hire "rush consultants" now.
Most of these graduates are in for a very rude awakening when they enter the REAL world.
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The Chinese central planners know that the real estate bubble over their has popped, and their people have lost faith in buying second homes (apartments) as a speculative investment. They also know that those same people are rebuilding their savings account. Time to provide another "investment avenue" to loot/scam them all over again. This will be perfect timing for what's coming later this year and early next year. (They will also have that "China bans bitcoin...again" in their back pocket, ready to go) |
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I'm OOTL. Why was his Twitter acct suspended? |
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Jim Cramer strikes again  Being exuberant in the current economy is fucking stupid. I know people think he's just clueless but I think there's a good chance he has pressure to cheerlead for the Biden economy. He's not just a cheerleader. He's a plant/mole insider that leads his retail investors to wash gains at best, or complete ruin at worst. I think you'll see this ETF will have a long term uptrend over time, even adjusted for inflation... https://www.marketwatch.com/investing/fund/sjim |
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OT:What to do when you're the banking sector of a Communist country quickly running out of liquidity during a global credit crisis? Easy, just confiscate it directly from your citizens: https://www.youtube.com/watch?v=O6aj8o73mCg
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OT:
I love how most of the major news outlet websites subtly enlarged both their font sizes as well as the white space around their article headlines and photos (so that they can post less articles per day and still fill up the screen).
As if some of us viewing on the PC wouldn't notice (news flash: I did). I guess phone-only viewers wouldn't really notice.
Just more proof that the main stream media industry is slowly dying and losing money along with everything else.
Pretty soon most of those news articles won't even be written by a real human anymore.
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Funny how no one asks the question, "Why the hell does the U.S. Govt have a massive bitcoin balance if TPTB hate bitcoin and crypto so much?" |
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So how's everyone enjoying "Sell in May and go away" so far?
Fun fun, amiright?
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OT: Of all the major Ponzi scams there have been in recent times, this HAS to be the biggest the world has ever known: https://www.youtube.com/watch?v=P_3ZTl9YoPMIf China's property market falls another ~40% from here, this could be the next Black Swan event. |
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Hugh... https://www.youtube.com/watch?v=8DehQKs2uZ0A sharp intellect behind a clownish demeanor. The guy used to run the Eclectica bond hedge fund, made tons of money, 'retired' to the home office, yachts, etc main points: a. Says to buy TLT (a paradoxical move) b. Mentions bitcoin allocation (his words: maybe 4X in the next five years if I remember correctly) c. Has a "nasty" prediction as to what FED/treasury would do-you won't like it! The one guy that brought up the point "Won't the Fed cutting rates solve the underwater bond problem for the banks?" was right on the money. It echoes my previous point I made about the Fed's 1-year bailout loans. The Fed can't bail everyone out with short term loans, they don't have that kind of money. So many regional banks will have no choice but to sell bonds at a loss (because depositors have fled), which will cause a cascade of bankruptcies. The Fed will then have no choice but to lower rates in response to that coming crisis. Hugh said "They won't volunteer lowering rates." Bingo! Only as a response to shit breaking...all by design.  He also mentioned bitcoin a bargain at $25k. And if it were to temp flash crash to half that? They'll be whale scooping it up like crazy. Notice also how the journalists are chuckling and laughing, not surprised by Hugh's comments. It's because they already know that it will all go down that way. It's all like watching a slow motion train wreck. |
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