To anyone who believes in crypto as a means for the betterment of society, an ETF brings nothing. Your friend Andreas Antonopoulos is not enthused about ETF's.A serious institution should not set up an ETF or put money into Bitcoin.
But there is a difference between should not and will not. An institution might be tempted to exploit the vulnerable by launching a BTC ETF. And such an ETF could give a false credibility to BTC.
Remains to be seen. They may be better in some ways and not in others. Some have not been fully tested in the way that Bitcoin has. Bitcoin is also leaning on second layer solutions like Lightning Network. Perhaps that will be workable when it builds up momentum.This is a very important point. As there are better products out there than BTC, then maybe it's time for BTC to exit stage left and let a better product replace it at a fair price. Maybe one of the stable coins.
Yup, about the fifth time in it's history this scale of slide has happened just in case anyone thinks this is the end of it.The Black Friday Bitcoin sale continues. Under 4k now. Serious Deal to be had *
* Of course it could fall further
Yup, about the fifth time in it's history this scale of slide has happened just in case anyone thinks this is the end of it.
Yup, about the fifth time in it's history this scale of slide has happened just in case anyone thinks this is the end of it.
I still maintain that whilst Bitcoin could fizzle out, that will only happen should another crypto take up the mantle. i.e. we won't see a situation where there won't be cryptocurrencies in play.The problem with something which is irrationally priced is that you can't say that it's different this time.
It may well rise and fall a few times before its inevitable fall to zero.
So, some time, it will be different in that it won't recover. But no one can say whether it's this time, or whether it's the next time.
I still maintain that whilst Bitcoin could fizzle out, that will only happen should another crypto take up the mantle. i.e. we won't see a situation where there won't be cryptocurrencies in play.
Bitcoin is trading at around 35% higher than its price was when this topic started some 20months ago.
Hi Wolfie
It was a bubble then.
It's still a bubble.
It's an odd one in that it inflates quickly and deflates quickly and then reinflates.
But that is what hot air does.
Brendan
View attachment 3907
So it is reasonable to argue that bitcoins bubble did burst, with the sell-off undershooting its inherent value.
Eh, no. That is not reasonable at all.
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