Blackrock ETF/Bitcoin will destroy the (new) cryptocurrency industry soon...

[lombok]

What??? OP just made me laugh. I Don't agree at all when Bitcoin is said to be obsolete? What makes this YouTuber say that Bitcoin is obsolete, plus the altcoin market will be destroyed. A bit over the top and FUD in my opinion.

Bitcoin itself is a new technology, and is capable of bringing major changes to the world regarding currency, finance and blockchain technology. It's an exaggeration to say BTC is obsolete without any follow-up. Many say Bitcoin is obsolete, this is it blah blah blah in fact Bitcoin still exists and cannot be replaced.

Apart from that, regarding the altcoin market, it is quite clear here that the Bitcoin and altcoin markets are very different and have their own characteristics and domains. I think the altcoin market will be fine, they are their own ecosystem. No matter how bad the bitcoin market conditions are and the impact on the altcoin market, when the BTC market starts to recover, the altcoin market also recovers. Maybe altcoins will be destroyed and end up being a scam, will that also happen to other top altcoins? I don't think it will be that easy.

[mk4]

Here is the thing: If you sell your shitcoins now, you can still get a good price for them and buy bitcoin right now, while it's still cheap. Then later bitcoin goes to 1 million and it will have been worth to sell of the shitcoins right now.

It won't take long for people to catch on...

The funny thing is you're squeezing "shitcoins" in one single category, which contains like thousands of tokens. Thinking that every single one of them will be outperformed by bitcoin is just pure ignorance no matter how dominant bitcoin is.

But yea — thanks, but I know what I'm doing.

[Fiatless]

Bitcoin is not the real threat. It is actually all the other new cryptocurrencies which are much much much more advanced than Bitcoin.

Bitcoin is old and obsolete compared to the new stuff.

The age of bitcoin or the creation of new altcoins doesn't make Bitcoin obsolete. These altcoins are mere copycats and there is no way a fake product can be better than the original.

Conclusion:

Major financial attack coming on the cryptocoin industry/cryptocoin currencies ! Most shitcoins will go to zero/become worthless.

My estimate would be: Destruction within one week, maybe even just a couple of days as people start to realize what is going on.

Whoever sells their shitcoins last, is going to be the major sucker....

There is no valid proof that your assumptions are certain. But I have never been a fan of altcoin so your advice looks valid to me. You have to understand that everyone has their plans. Many of them are willing to take the risk of keeping these altcoins because they believe in them.

And whether BlackRock will succeed in its application or not, Bitcoin will get back to $69,000, reach $100,000 and beyond.

The $1millon and above bitcoin price prediction that I have been seeing currently seems like a dream to me. $70k and above looks more reasonable.

[freedomgo]

Here is the thing: If you sell your shitcoins now, you can still get a good price for them and buy bitcoin right now, while it's still cheap. Then later bitcoin goes to 1 million and it will have been worth to sell of the shitcoins right now.

It won't take long for people to catch on...

The funny thing is you're squeezing "shitcoins" in one single category, which contains like thousands of tokens. Thinking that every single one of them will be outperformed by bitcoin is just pure ignorance no matter how dominant bitcoin is.

But yea — thanks, but I know what I'm doing.

Shitcoins haven't turned into gold just yet. Maybe we should hang on a bit and see if they gain some value during the next real bull run. But seriously, who's still holding onto shitcoins? The days of ICOs and ETH tokens was long gone, and shitcoins have lost their value, mainly good for shady 'investments.'

What we're witnessing is actually great news. It's something that will boost Bitcoin's liquidity, making it more stable. But now, folks are talking about conspiracy theories. What's the deal? Are they trying to create baseless FUD? Well, I say, try harder......

[spectre71]

I don't think the institutions have evil intentions,customers want exposure through the channels they already have. At the corporate level owning BTC (or any crypto) directly would be a huge pain in the ass. Who has the keys and how do you access them, who has access et al. ETF can put into retirement accounts and that's a huge deal.

[mk4]

Shitcoins haven't turned into gold just yet. Maybe we should hang on a bit and see if they gain some value during the next real bull run. But seriously, who's still holding onto shitcoins? The days of ICOs and ETH tokens was long gone, and shitcoins have lost their value, mainly good for shady 'investments.'

Just like OP, you're pretty much just placing the "shitcoin" eggs in one single massive bucket. Just like back then, you can still make massive amounts of money through shitcoins — you just need to know how to pick the right ones.

Also — if you think no one holds shitcoins these days, then you should probably check the data lmao.

[Skybuck]

Well, it took a bit longer than expected, but today 12 to 13 april 2024 the cryptocoin market took a massive hit, many coins 33% down over the last week.

I've been watching this market for at least 8 months now, I've not seen such a big drop in last 8 months.

The strange thing is bitcoin halving 7 days from now.

My spidey senses/"market feeling" is fear of collapse, probably because of previous major bitcoin crashes years ago.

I try to be brave at hang on till at least 2 or 3 months after halving to see what happens.

I've seen many news articles stating that many bussnisses want to buy bitcoin, but I wonder if I am being brainwashed and instead should follow my spidey senses.

If I were to do so I run risk of missing the skyward rocket.

The weird thing is nobody seems to know why this 33% drop happened.

There is some speculation/rumors:

1. Craight Wreight (fake? Satoshi) would sell off before halving. (Though some say this has happened before, maybe a scam reasoning trick by him)

2. War Israel/Iran/USA fears

3. ETF-fueled market manipulation.

4. Big investor (group?) pulling out of everything ?

5. Profit taking.

6. Solana/ethereum security fears ?

7. Price correction.

[Lucius]

Well, it took a bit longer than expected, but today 12 to 13 april 2024 the cryptocoin market took a massive hit, many coins 33% down over the last week.
I've been watching this market for at least 8 months now, I've not seen such a big drop in last 8 months.

I don't know which shitcoins you're talking about when you mention the 33% drop (actually it doesn't even matter), but what's happening now has happened at least 3-4 times since the spot BTC ETF (US) was approved. Bitcoin is down about 5% in the last 24 hours, less than 1% in the last 7 days.

The strange thing is bitcoin halving 7 days from now.

Is it written somewhere that the price of shitcoins should explode due to Bitcoin halving? The halving never had an instant effect on the price of BTC, so it is completely irrelevant whether it will happen in 7 or 77 days.

As if it matters why the correction happened, I already wrote to you that this is nothing important that has not already happened several times this year. Maybe the Chinese are to blame and their spot BTC ETF, which could be approved as early as next week (Hong Kong)?

[Skybuck]

There can only be one conclusion:

Cryptocoins sold to finance break out of war/fight Israel vs Iran.

Last week mystery solved.

Monday price of gold will skyrocket futher.

[Lucius]

There can only be one conclusion:
Cryptocoins sold to finance break out of war/fight Israel vs Iran.

What kind of war are you talking about? The drone strikes that these two countries have been playing for years are not a war at all, but just maintaining tensions for some completely different purposes. In addition, Israel cannot fight against a group of people who have not had an army for months, and you expect it to fight with a country that has an organized army?

The fact that some have a very poor understanding of geopolitics and the real forces that can be faced on the ground is unfortunately the true picture of the world. I can only say that weak hands are always welcome, cheap coins will pass into the right hands.

Monday price of gold will skyrocket futher.

Is that your personal opinion or are you following some gold bug like Peter Schiff?