The ETF "Saga" Comes To An End
A day after Gary Gensler claims the SEC Twitter account was hacked, the ETF has been finally approved, and funny enough all eleven of them. Before now, I didn't know we had eleven, but what a mystery, and finally the Twitter ad farming by monetized Twitter accounts can stop unless something drastic happens (which is very unlikely) I can't say I'm not surprised. With the way Gensler has been tweeting lately, you can tell that he's tried everything possible for this not to happen.
If it boiled down to him. The US will be a Mazi totalitarianist anti-crypto state, but unfortunately, these approvals aren't completely based on what he wants and what he doesn't. In fact, my unpopular opinion is that the EFT was approved the day the SEC Twitter account tweeted, it wasn't hacked, I just felt the details weren't finalized yet before the news went out. Gensler could have said "Oh we're going to approve it, but not yet" rather, he made it seem like the approval isn't going to come anytime soon with his "hack tweet" and of course, this created uncertainty again.
It goes to show how Gensler badly doesn't want this to happen. In other news, we heard that the SEC Twitter account didn't even have 2FA even with the blue tick and all. The SEC is mostly a witch-hunting entity, and I won't be surprised if they futuristically begin to change their stance on the already approved ETFs. Back to BTC, well, I don't really know how the price predictions will go.
The approvals came very early and this might mean a different thing entirely for how 2024 might pan out. However, I'm not going to resist the urge, I'll go ahead to make the predictions anyway. BTC for me might do 70 to 100k by the end of the year and it might even be better, but it's better to stay within minimal limits. I don't think the first, second, and third quarters of the year will be good for the alts, infact the alts are currently lagging which is really not a good thing.
But it's also not unexpected. It's not time for the alts and I know that many people are frustrated by the slow pace of the alts. I know that there are people who hardly hold any BTC and can't wait, but I'm not really sure anything tangible will happen for the alts even after the halving and the ETF approval, I feel that the money flows into the alts and it's probably not time yet.
I'll shy away from making any predictions about the price of Hive, I feel that Hive will do its thing when the time comes, however, it's not yet time, but the market is moving incredibly well and this is all that matters. Infact I feel that 2024 still brings incredible chances for others to accumulate: move profits from the BTC and co to the alts. There's still enough time, and this is because, after the halving, this is when the real magic might begin.
BTC and Ethereum are off the mark and if anything significant doesn't come from the SEC, then it's going to be one-way traffic to the bull run. However, it's unlikely anything will happen or come from the SEC. They're currently saying (the SEC) they are not endorsing crypto and they're only approving the ETF and nothing more, but no one is going to be fooled or taken by these gimmicks.
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I just read on X that it was an hack in order to mislead the society.
I don't actually know the intention of the perpetrators. Let's cross leg and watch.
Thanks for the update boss
Good day
It's been finally approved, in the wee hours of this morning. The hack was two days ago.
Thanks for sharing your view, I also don't think hive and Leo can perform incredibly when in this first quarter. But let keep our hope high before the year end, hive will perform well
It's a watching game, the year is long and anything can happen.
So many hearts are breaking by the day but them some are still rejoicing anyways because they've got more time to accumulate for the sunny day, hehe.
I always believe that it gets better with time whether or not it actually does 😊
Accumulation is still possible, it's very early yet and the alts will probably lag behind till late 2024. It's BTC's show at the moment.
Yeah, it's Bitcoin's spotlight, let's it have it, hehe
The whole SEC and ETF thing is a wild ride, right? Creating speculation and uncertainty. Gensler's tweets and surprise approvals got everyone buzzing. Let's see how 2024 unfolds as this crypto world keeps changing.
The approval has finally happened.
Ohh.. About the price of hive, I can't really say too much about that too and I just think we continue to anticipate untill it gets a better face like other crypto currency
I was thinking that once we enter January, almost all alts will be experiencing a little bull run, however it's better to keep a lower expectations and use this opportunity to accumulate more while hoping for the best before the year runs out. Do you really know the actual time for the BTC halving?
The BTC halving will happen in April. The alts time will come, possibility by the last quarter of the year. For now BTC and eth will still continue rallying.
Yes friend as you've just said, I guess investors will be pushing Funds to bitcoin to make some fortunes. Definitely the altcoin market will bounce back maybe after the halving.
Definitely, the alt market will take it's time
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Earlier it was said in the same way that the account was hacked and the market was being checked to see how the market reacts and when these are actually approved, we have seen that within Bitcoin we have seen something. There is no significant difference, but we have seen a lot of increase in the price of ethreum because we have seen how long the dominance of Bitcoin was going up. A lot of good for altcoins now that the bull run has started.
I'm still very skeptical of the supposed 'acceptance' of crypto by SEC. They might still have some more mischievous tricks up their sleeve.
Like I said, the SEC is not pro BTC, approving the ETF is only necessary
I even noticed that the price of cryptocurrency has gone up crazily since then
This means that some doubting Thomas are already buying coins, lol
BTC is still going up
I'm wondering what their motive is on not endorsing crypto but approving the spot ETFs. Perhaps, it's reaffirming their stance on crypto but I guess it's good that they're no longer standing on the way for institutional investors to get into the crypto space. I think 2024 may perform better than many expect :)