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US SEC approves Bitcoin ETFs in watershed for Bitcoin, crypto market
- Podgajski 3y agoBetter sell now….
- hereme888 3y agoHow does that make any sense?
- Podgajski 3y agoBecause it’s overbought and most of the coins are at island tops. If you don’t know what an island top is, look it up. Plus, the house always wins, and you ain’t the house.
- hereme888 3y agoGood to learn about island tops. I'm not an expert trader, but I don't see island tops in any time frame for BTC in my charts. Perhaps I don't know how to set it up correctly. As for RSI, on the daily, in the last two overbought conditions it just kept going up. And on the weekly, last overbought condition was just the beginning of the crazy bull run in Oct 2020.
- mlrtime 3y agoOfficial SEC Statement : https://www.sec.gov/news/statement/gensler-statement-spot-bitcoin-011023 https://www.sec.gov/news/statement/gensler-statement-spot-bi... And just yesterday the naysayers were saying this was never going to happen.
- infamouscow 3y agoFirst they ignore you, then they laugh at you, then they fight you, then you win.
- deleted 3y ago[deleted]
- trompetenaccoun 3y agoWell, Bitcoin the p2p cash system has clearly lost, Wall Street getting in is basically the last straw. Winning in terms of getting rich, probably true. For me it was never about that but it seems to be the direction things are going. I guess this is the sentiment of the day: https://i.imgur.com/I8x93HM.gif https://i.imgur.com/I8x93HM.gif End of an era. Remember all the money can't buy you freedom should we one day wake up in autocracy.
- rafaelero 3y agoHow on earth does having an ETF changes Bitcoin's capabilities as a payment system?
- trompetenaccoun 3y agoNot in itself, it's just the final nail in the coffin. Bitcoin has been on the digital gold path ever since the blocksize war when those who wanted to get rich and not use it for everyday payments won out. The ETF just further cements this, now big name asset managers are getting in. Many don't know VanEck for example has already announced they will "donate" part of the profits from the ETF to Bitcoin developers. When Wall Street starts funding development, don't you think over short or long they will have influence on the direction the development goes? Money rarely comes with no strings attached.
- paulryanrogers 3y agoSad to see tacit approval like this. BTC mining is a scourge, for the environmental impact if nothing else.
- ls612 3y agoTake it up with the appeals court; they basically forced the SEC’s hand in this matter.
- trompetenaccoun 3y agoThe SEC had already approved prior ETFs, just not spot. The courts exist to enforce the law which the SEC were violating with their arbitrary approvals. It's really been a bit of a clown show by Gary. They even managed to lose the Ripple case which many had assumed the SEC would win, because unlike Bitcoin it's rather centralized and there was a good case to argue that those sales represented unregistered securities. Then the best part yesterday with the hacked Twitter account, after both Gensler and the official SEC account had put out reminders to the public to enable 2FA for better security. Turns out they had not enabled 2FA and so the attacker was able to gain control. Absolute amateur hour.
- infotainment 3y agoAt last, the future of finance is here! Instead of investing in meaningless, imaginary things like stocks or whatever, now you can invest in something real. Oh wait…
- Podgajski 3y agoThis is the ultimate idiotic abstraction of financial capitalism that I have seen yet. What value does investing or trading in bitcoin bring to the economy? Absolutely none! And you all wonder why there’s rampant inflation and the huge separation of wealth.
- ChrisArchitect 3y ago[dupe] More discussion: https://news.ycombinator.com/item?id=38943291 https://news.ycombinator.com/item?id=38943291