The SEC has rejected the Winklevoss Bitcoin ETF proposal for the second time yesterday.
Bitcoin took a small hit and I guess we will know soon enough if the price rise we have seen in the past weeks was based on the fact that this would not happen.
But as usual I'm fine either way.
I have accepted the fact that it will probably take many more years before things will really go mainstream.
And I have my plans in place for scenarios where things go up or down.
Right now what I am most focused on is buying/earning STEEM while it's still possible.
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Steem = C+
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Mark @exyle I don't worry about what the other cryptos are doing right now. I think the same as you do and just try to concentrate on adding to your Steem Power while you still can..................
I wouldn’t be worried about yesterday’s drop. I actually just added to my portfolio taking an advantage of these panic sellers. Anyway, I just can’t believe what they are saying about their concern when it comes to bitcoin ETF. Why did they approve bitcoin’s futures at first? Because they know not everyone can afford to buy futures. But everyone would be able to buy bitcoin’s ETF just because of much lower risk and much lower prices. Can you imagine people being able to but contract for few hundred dollars worth 100 bitcoins? I know, you only buy it for certain time, but with today’s volatility you can make nice profits very quickly without taking too to much risk. Of course, everyone would be able to short the bitcoin as well by buying puts, but at the end price would find it’s way up anyway. At the end, it’s only matter of time when crypto goes fully mainstream.
Me too @exyle. This is a really big change for the average person to get their head around. 😊
Ah welcome to the world of heat. We major in that in Florida here. Of course, it is ironic that our temperatures are lower than you are having in Europe. At least we have air conditioning over here.
Have no fear, you will be doing you videos each day in a winter jacket very soon. 😀
As for the post, I agree the ETF will let the wolves in the hen house. However, it might be a necessary step. The cryptoeconomy is only made up partially of cryptocurrency....the other part is the decentralization of products and services we all use on a daily basis. That will take some time but it is happening.
Another fine post.
By the way, a recommendation....to cool down, put an ice pack or a cold washrag on the back of your neck. The nerves in the neck, when cooled, help to cool off the entire body.
Thanks for the tips against the heat! And yeah in 6 months I probably be in my winter coat with -10 :)
Not a very big dip but hopefully this etf things get approved only once and there is no stopping back
I like your wet towel option.
I use icepacks, fans, open windows and today I even went to a swimming pool. Looking forward to a rainy day soon. ;)
I haven't been in the crypto market long enough to know, but I wonder if there were this many weak hands. I mean, has there always been this much FUD? Even a year or so ago? Is it all driven by the fear of government regulation or is it something else?
Haha! I been in crypto since 2013 and FUD has always been around. For Bitcoin, for ETH and also for STEEM.
That is unfortunate, but probably a normal by-product!
Agreed this things might take time
but like you said earning Steem is the 1st priority right now .
I think the market is going to be unstable for at least the next 6 months. it is best to have plans for whatever happens.
Thank you for the update! The market dip is just a temporary adjustment... :) Stay cool and have an awesome weekend!
Yes! Hodl & earn steem! Great position to be in. Always glad to drop by your blog. Have a fantastic day!
Thank you, you too!
This is what I imagine
lol!
I think the next ETF application from the CBOE is now more likely to be rejected as well. Let's see what happens. At least, I think it will be postponed.
don't expect too much from ETF
Thank you for sharing the information. Yes, it'll get stable by the time
People expect too much from the ETF to boost the price of Bitcoin.
Thanks for the info
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One day the sun will rise over the crypto market again, for now... bask to the cave with our bears :^)
nice d-live video
thanks for sharing
great post
Believe it or not I just wrote a post about the extreme temperatures in the north part of the planet, it´s a global heat wave. You can read about it here: https://steemit.com/heat/@diogosantos/40-degrees-in-siberia-and-30-degrees-in-norway-nearly-planetary-heat-wave-surprises-experts
In terms of BTC ETF rejected I think it is only a small step back to once again delay the inevitable world domination of BTC (crypto). A small shake on the markets, but I don´t think we will be going below $8K anymore, before the bull run.