We are still into flushing out weak hands!

[Stedsm]

To those of you thinking why alts are not taking a run when Bitcoin is showing positive signs of a bull trend as well as higher chances of ETF approval, let me "demonstrate" a few things for you and clear up your mind:

- In 2017, it was easy for the manipulators to manipulate the markets as they used to have a lot of BTC in their hands, they played the markets very well with both the BTC and alt bull run.

- In 2018, the big game started when bigger money decided to get involved in this. Those of big whales started selling their coins to the group of institutions (who are quietly putting their money in the markets while buying it from high to low). When all this was happening, alts (mostly shitcoins which deserved not even a fuck and were worth more than xx times, some even xxx and xxxx times, we're destined to be buried in graves as this time was directed by those whales to shake out the weak hands and let only the brave ones remain in the game).

- Everyone must be thinking atm that why alts are not performing well while Bitcoin started its rally? First things first, many alts (most) are overvalued which are now being put at their real values and only the best projects will survive at the end of this year.

- They were the manipulators who played last year, but as the BTC is now in strong hands, these guys (mostly institutions) are not going to give a fuck to these alts and are going to make a BTC worth $50k at least (if not $100k) till the end of this year. To my observation, I believe that this is a real chance to buy some "cheap" BTC and be a part of History Part-2, else shit your pants off while you see BTC going to where I told ya today.

[1714039486]

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[Stedsm]

Why are alts bleeding?

- It was a cycle once when only a limited number of people had too much of BTC once, and they wanted to gain on small cap people (like us), so they started a season called alts' season where every few days, they were pumping some coins at levels which made innocent people get in those coins at very high values (I'd say overvalued here), and after getting their targets reached with the help of some bloody pump groups, they exited the markets on these innocent people's money and who was left behind to regret? Us. Afterwards, the value of Bitcoins was also manipulated at such high levels that most of these groups sold off their coins they earned from us and got out in profits. Now, those who bought it from high to low are the ones who are really strong enough to hodl for a very long time and they are BIG INSTITUTIONS. They are not foolish to make more BTC by putting their money in alts which possess nothing but the same idea that can already be found in many other alts, making it come under the category of shitcoins. Shitcoins are those that have no real project or purpose and are solely to make profits (monetary gains) either in BTC or fiat by its trading. Investors have got a new option to play with their money - Futures to make more money as well as gain more BTC at better leverages instead of getting into a P&D coin. So, sorry to say this, but you're not going to witness the same alt run that you saw last year. Yes, there will be pumps and price increases, but not to that extent, not some 100 or 1000x coins any time soon.


Why is it not a good time to get into alts?

- Ethereum is bleeding, and history is deponent that whenever Ethereum goes red, alts bleed in its correlation. If you are looking to invest in alts, wait till Ethereum starts gaining back and then only look for the best projects to invest into. IMHO, I believe that 0x is one of the finest projects that could lead your portfolio 10 times (at least in fiat if not in BTC) till EOY. Watch out for it and invest some part of your portfolio in it.


What will happen with the ETF scene?

- Anybody out here thinking that they might see BTC bearish till August 10 is blatantly stupid, because the reason why everyone is pushing the price ahead is the fact that they believe in BTC and they also believe that this time, some super positive signs of ETF approval are there. Even if SEC delays this (rejection is not going to happen at any cost and after reading this: https://www.forbes.com/sites/youngjoseph/2018/07/27/sec-commissioner-bitcoin-is-regulated-and-mature-enough-to-have-an-etf/ , not at all), Bitcoiners will then be given a final chance to get on the train and get this dirt cheap. Those who are/were crying they missed the train since the beginning, let me tell ya one thing guys: This is the new beginning and we are just starting up and the BITCOIN ROCKET is under warm-up mode.

[BitHodler]

I wouldn't put too much confidence in that Forbes article to conclude that the ETF next month will not be rejected. The overall market has been maturing somewhat, but it's still a shitshow mostly and thus poses too much risks.

The only aspect giving me some confidence is that CBOE is trying to get it through just as hard as Vaneck and SolidX. That's directly why other ETF's by default don't stand a chance.

The Winklevoss ETF has turned out to be a wasted effort. In all the time they had there hasn't been one fundamental change that could have granted them higher odds of approval. They have only themselves to blame for.

[Stedsm]

I wouldn't put too much confidence in that Forbes article to conclude that the ETF next month will not be rejected. The overall market has been maturing somewhat, but it's still a shitshow mostly and thus poses too much risks.

Not a shitshow, but manipulation. The real cause of ETFs not being approved lately is manipulation of markets, so badly that SEC thinks it might be a gamble to risk investors' money into crypto.

The only aspect giving me some confidence is that CBOE is trying to get it through just as hard as Vaneck and SolidX. That's directly why other ETF's by default don't stand a chance.

Don't compare Winklevoss ETF with the one filed by CBOE, as there's literally no competition because CBOE holds an institutional position and Winklevoss brothers are just a piece of cake in front of CBOE if compared. CBOE is completely indulged into getting this thing approved, and even if it delays as I said before, BTC will still continue sideways and/or a possible dip to ~$4000 to kill the longs currently and flush out the weakest of all, testing the strength of real investors.

The Winklevoss ETF has turned out to be a wasted effort. In all the time they had there hasn't been one fundamental change that could have granted them higher odds of approval. They have only themselves to blame for.

It's being said that ~25 Bitcoins worth of shares will be purchased per contract if ETF gets approved, and so is there the demand for the same. I believe what happened to Winklevoss ETF was destiny, but what will happen with CBOE ETF will create history.