BlackRock CEO Larry Fink Backs Ether ETF The asset management giant may now be looking to list an equivalent product for ether, the native token of the Ethereum blockchain, as part of its ongoing journey toward tokenization. https://www.coindesk.com/markets/20...eferral&utm_source=rss&utm_campaign=headlines
Just saw that. Is this being driven by ETFs at this point? Bitcoin and crypto does not have the same cultural buzz as it did in 2020/21.
Pretty much. The ETFs are buying way more Bitcoin than there is active supply. Factor in the halving in 6 weeks~ and you're gonna have a demand shock crashing headlong into a supply shock. What has happened with the price in the last month is unprecedented. Never before have we seen BTC hovering around ATHs before a halving event. In previous cycles this price acceleration hasn't happened until at least 6+ months post-halving. This super high floor pre-halving is an incredibly bullish sign for the next 12 months. The new ATH should be outrageous. As soon as we cross 69K you'll start to hear the buzz again, and then at 100K+ it will be deafening.
There's also a lot of Tether being Tether (and doing that for quite a while). But yeah, Bitcoin is good with the number go up stuff (whatever that number means to people).
On a related note, RIOT/MARA/COIN are all running also with BTC, so reaping the benefits there if you want to do stocks instead. @Ziggy
There is going to be so much FOMO. Meanwhile I am wondering why my AGI dropped 30k but my groceries and utilities have double in price.
No need to buy derivatives when the real thing is staring you right in the face. Converted my MARA/RIOT to BTC long ago.
If I were a speculator I'd run this playbook. After every halving event I'd pick either a set amount of satoshis or a set amount of USD and sell that every day or every week for an entire year. After that year is up I'd spend the next 3 years accumulating. Rinse and repeat.
The halving is pretty much all psychological now. The demand far exceeds what miners are putting out on the market and as demand continues to increase, the less the halving matters. Institutional investors have purchased Bitcoin. The question is how much and when they decide to sell. My tea leaves tell me we will have yet another massive dump at the end of the year. $220k thriller top with a drop to 140k in 1 year.
The new floor is usually pretty close to last bull run's ceiling. My guess is that there will be a small dump or lull in the action right after the halving when all the paper handed day traders ragequit after not becoming millionaires overnight post-halving.... then it'll rocket past 100K a few months later.
