To The Moon

It sure looks like buy on rumour sell on news event for Bitcoin etf approval. 

$Coinbase Global, Inc.(COIN)$ 

Just look at how Bitcoin prices react. if it's a true watershed event, we should be seeing the mother of all rallies. At end of day, bitcoin has almost negligible real life application. The store of value is just imaginary numbers. Zero Real life value, yet maintainance is a pain. The only way one can profit is by selling higher to another greater fool. 

Which more often than not, ends up being the retail investor, limited tools and the playing field is definitely skewed against the retail investors. 

The price wars between the Bitcoin ETFs is already a sign that demand is likely limited, with so many ETFs Approved at the same time, it's bad news for them. Hence, I wasn't surprised when the ETFs fall after listing. Where is the so called with sec Approval, many new investors and fresh funds will pump up the etf? 

There's comparison between gold etf and Bitcoin etf, about how Bitcoin etf will surge like gold etf. There's a big difference though. Try storing physical gold.... Now try storing Bitcoin in ur cold wallet. 

Let's not even talk about real life application of gold like Jewelry etc. Maybe there will be Bitcoin necklace and rings soon... imaginary Jewelry isn't that far off from imaginary money Anyway. 

If this etf approval can't change the Bitcoin environment, there is a high probability that the crypto fad would eventually fade Away like the meme stock fever. Lately been seeing a lot lesser of "TO THE MOON!" And "HODL" And rocket emoticons. The meme stock fever was fun times. [LOL]  

To be fair, if there is actual and widespread real life application, everything will change. Crypto will then reach new heights. 

However, I find it interesting. 10 years was spent to gain the approval from sec for Bitcoin etf. After 10 years, the so called real life application for crypto remains the same, despite having so many of the finest and best in their field. The only real life application is speculation at its finest.  

Meanwhile, I will [Onlooker] , and find some crypto linked companies or Bitcoin etf to take some pot shorts or sell some call Options on them. [Cool]