Well in one way or the other I'm also on his side. Everything has been very skeptical this year. For instance, currently there is no bad news, Blockchain is getting the mileage and people are using it and so still it's confusing the market is not booming. Well maybe something big is coming for us. We live to see.

This statement will be very difficult to disprove. Let´s be realistic here, the Bitcoin trading market
is still heavily manipulated. Many of the high-volume exchanges are engaged in shady practices like
wash trading, trading against their own customers and similar stuff. As long as exchanges like
Bitfinex have that much influence on the BTC price it is hard to make the case that BTC is less
susceptible to manipulation compared to other commodities.

This is probably also the reason why they will reject this ETF application in the end - as most
of us already expected anyway.

We can create a lot of theories on where it is connected from but one thing is for sure that this 800 million dollar worth of BTC lying around since 2014 became active and available right now to be traded in the market, we can see a lot of volatility when this happen and the bad thing is we might see a massive liquidation, and who knows this might even be the reason why the market had triggered the Bear market which started in the first month of 2018, we can expect the market to be more active in the upcoming months when the investors starts buying back shares.