The "good" thing about #Bitcoin ETFs is that they drive the price by speculation and by the dominance of BTC increases the price of other Cryptocurrencies.
BTC will be co-opted by bankers and will only be an instrument of speculation, while BitcoinCash and Monero has utility as a monetary and payment system 😉
How is an increase of demand for #Bitcoin from deep institutional pockets going to pump your shitcoins?
A rising tide floats all boats 🛶
When we're through this bitcoin is not going to be a boat anymore. Its going to have wings.
Well, if nobody sells, the asset becomes illiquid. And people will move into other asset classes including other digital assets?
If anything, shitcoiners may finally realize that they are holding vapour ware and dump it for the real thing. A massacre in shitcoin land is on the table.
I don’t think that’s how supply and demand work. When Demand surpasses supply exponential and other competitors come into the market. I think that’s why there are dozens of hamburger chains.
I still don't understand where the demand is supposed to come from other than some minor blips from psychological piggy backing. Institutions aren't interested in anything other than bitcoin leaving everything else on the sidelines.
Institutions are willing to put capital into an asset at 50k/coin. But they are going to be less willing at 1mil/coin. Institutions will have to sell products. Institutions will have a harder time selling that product at a much higher price. Therefore, another will need to be created. For institutions this isn’t about buying great assets but selling products.
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Literally the only good thing from the #ETF, price aside, is the fact that the other filth is for ever stuck in retail land.
