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Gossip & Opinions / Re: Bitcoins - about to hit $5,000 per coin today!
« Last post by Flexacon on Today at 06:32:20 PM »It seems those others have caught up to me and are looking for Grayscale outflows (they all missed BTC price suppression I warned of well in advance).
It’s pretty obvious the 2 outcomes possible.
The ETF is starting to get front run.
Come on now Mayday. Maybe we both have a different understanding of the word suppression but to me it means stopping something. I guess it could also mean slowing something down. Checked the dictionary definition and it turns out it can mean both those things!
Grayscale did not stop the upward price action on BTC via ETFs, but it did slow down how fast it went. This is fact as we have seen the overall flows from the ETFs. We can agree on this?
With regards to the ETH ETF I don't think there will be as much interest as BTC so outflows from the Greyscale product could be a lot more painful.
However the ETF approval takes a lot of heat/bear pressure of ETH over the whole Security issues. More wealthy people/businesses could be inclined to buy spot ETH and set up their own nodes etc. Will be interesting how it plays out.
Bullish Alts on a longer time frame now too. Btw I picked up a fair amount of Drift Token (got some really good DD on it) up there in the top holder ranks, but not quite a whale.