To The Moon

Are you a HODL or a FOMOer?

Just Hodl! | Bitcoin, Social app, Investing

The BTC spot ETF was approved and a milestone was reached. I have added several ETFs to my watchlist

Blockchain investors and practitioners are rejoicing and excited!

I remember my colleague, who with a doctor's degree sat next to me had strongly advised me to buy some Bitcoin in the year of early 2017, I was also fortunate enough to get chances to talk with some believers and friends from the blockchain circle.

However, because my family's main funds at that time were prepared to buy real estate, there wasn't much idle cash for risky investments.

So I missed out on joining and with it all the big upswings that followed.

Price of crypto in FOMO amidst hopes for Bitcoin ETFs

The wise saying still r

ings in my ears: You can only make money with the money you know.

Going back to this week’s incident where the BTC spot ETF was approved, we all thought it was relatively safe when we were talking amongst our circle of friends a week earlier. After scoring an own goal, it still managed to make news.

I see that many users in the Tiger community are discussing "selling the news".

Considering that before (in 2023) some shares of the blockchain concept:

For like $Coinbase Global, Inc.(COIN)$ went from a low of $31 per share in January 2023 to $187 per share on Dec. 28, a six-fold increase.

$Marathon Digital Holdings Inc(MARA)$ has gone up multiple times and topped the list of US stock market gainers.

The blockchain stocks fell across the board on Thursday:

$Riot Blockchain, Inc.(RIOT)$ fell more than 15%, $Marathon Digital Holdings Inc(MARA)$ fell more than 12%, $Ebang International Holdings Inc.(EBON)$ fell more than 8%, $Coinbase Global, Inc.(COIN)$ fell more than 6% and $Canaan Inc.(CAN)$ fell slightly.

But is this the end of the market? Will there still be a market in the future?

• From a rational point of view, it must be cyclical. After the milestone event, the whole industry will do well, and more and more participants will work together to make the pie bigger.

• The Bitcoin market is influenced by loose monetary policy, and the US dollar is falling in the expected cycle of US interest rate cuts, which is good for Bitcoin.

• When will the interest rate be cut? Some say it will be in the second half of 2024, others say it will be in the fourth quarter of 2024. The cycle will last for a year.

A look into the future,

After the listing of the BTC spot ETF, the market has become more relaxed, but there will still be twists and turns.

Just like when $Tesla Motors(TSLA)$ went public in 2010, those years were not the era of electric cars. Slowly, the logic became clear, and many people came to buy Tesla and became a faith stock.