Agree. There is just too much uncertainty in the crypto space these days and it's just not worth the risk.
The Bitcoin halving event anticipation has already been priced in, which means I don't expect a drastic hike in price of Bircoin when it halves next week.
In fact, if you guys recall, price of Bitcoin and crypto related stocks plunged on the day of Bitcoin Spot ETFs approval. Thanks to outflow from $Grayscale Bitcoin Trust(GBTC)$ .
From Jan till now, outflows from Grayscale caused Bitcoin's price to drop TWICE. And it may happen a third time.
Note that Grayscale transfered 6200 Bitcoins worth $434mil to Coinbase recently, sparking speculations that they are ready to sell Bitcoin, potentially impacting market prices of Bitcoin and crypto related stocks.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
- IrmaBurke·04-12It's a risky time in the crypto market, so caution is warranted.LikeReport