Top Crypto Execs Confident SEC Will Approve Spot Bitcoin ETFs

[Lucius]

@Lucius. It appears that you might be proven correct. Cathie Wood might only be larping about this before end of the year ETF approval. Her investment firm Ark Invest has dumped Coinbase stocks and GBTC shares on the traditional market. I am quite certain she will also dump bitcoin on November 21 or before this date if she gets confirmation of a disapproval on the ETF from uncle Gary.

It seems that things are going quite badly for her company, because how else to explain that she is selling at the moment when something positive started to happen, and it seems that from a few days ago we can expect a few more pumps in the near future. But when you need money, it's obvious that you have no choice but to sell, regardless of the circumstances.

This article was published on October 24.
If this information is real, it appears that Blackrock is buying bitcoin already. It also appears that the pump on bitcoin might not be a pump and dump. This pump might be caused by Blackrock! I speculate that on October 30-31, we might witness a halloween pump. Blackrock likes to work on Monday and Tuesday, I have heard hehehehe.

I previously read info on the forum that such a possibility exists, although I thought that any company that applied for spot BTC ETF would buy BTC only after receiving approval. In any case, it is very likely that all this news about BR stimulated the market, and if it is not about some kind of manipulation, it is possible that we will not have to wait until next year for the SEC to announce "good news".

[bbc.reporter]

@Lucius. It certainly is similar to other hedge funds and investment firms in traditional finance. They are dumping everything on retail investors because the whole traditional market is beginning to enter a bear market hehehhe.

Also, maybe they need the cashflow and liquidity to follow Blackrock's bet on bitcoin. Are we beginning to witness crypto as a safe haven or is this only market manipulation.

[Lucius]

~snip~
Also, maybe they need the cashflow and liquidity to follow Blackrock's bet on bitcoin. Are we beginning to witness crypto as a safe haven or is this only market manipulation.

Crypto as a term encompasses all cryptocurrencies/tokens and I have no doubts that the answer is NO - and even Bitcoin in mainstream circles certainly does not have the status of a safe haven, considering its volatility and still very easy manipulation +  the total daily trading volume or even total marketcap.

Regardless of the current optimism among investors, I still wonder what the long-term consequences of the possible approval of the spot BTC ETF in the US will be.