Looks like the Tokyo market just gave BTC a boost. Maybe they know more about the Hong Kong BTC ETF... 15+ more global BTC ETF's about to be launched coupled with nation states buying BTC and corporations starting to buy BTC for the balance sheet = Almost No Coins Left to buy under $100,000
Well, I think we may see a dip in the morning (I'm a buyer), but I expect a full recovery by the eod and $24 by Thursday or early next week. Everyone will be buying - traders, longs, and shorts covering. It's a good spot for Institutions and Crypto ETFs to add, also.
Just much ado about nothing. I would much rather they borrow money, than dilute, but they probably know better than I how to run their business at the start of the Bull Run.
More importantly, the Hong Kong BTC ETF is due for approval in Q2. I would think regulators there would want to give their investors a chance to get in before halving. That would open up BTC to a lot of money!
So, I don't care what miner you own, I would be a buyer on Monday. I would not want to be on the sidelines waiting for a "good" price, when all the money from Asia jumps into their new ETF.
I have no idea what halving will bring in the short term. I do believe BTC will go up in the long term, but I don't know what "long term" means (probably shorter than most of us think). Then again it may go up huge in the short term if Hong Kong's ETF opens soon.
I am always overly optimistic; however, I am very bullish about the next two months for all miners - March mining result (MR), Hong Kong ETF, Halving, April MR, and mid-May ER followed by May MR. Further, I expect a lot of updates on rigs and infrastructure during that time.
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- quixy·04-01Wah, your analysis on the BTC market is quite insightful leh!LikeReport