I admit i was a sceptic and did not expect BTC to rally on fake ETF news, but lo and behold, here we are at 34k$. All things are looking good for BTC at the moment and if it stays above 32k$, this could be the official start of the bullrally (in my humble opinion).
So what could go wrong? An approval of a spot bitcoin ETF by the SEC is now priced in but the approval isn't there yet. In a worst case scenario the SEC could still refuse all running applications for BTC and/or ETH ETF's.
In the unlikely event that this would happen, we could see a mayor correction that could (or will?) wipe out all recent gains (and then some).
But for now, let's enjoy the rally and hope for SEC confirmation.
What are your thoughts on the rally? Are we in full bull-mode or do we still need to be cautious?
So what could go wrong? An approval of a spot bitcoin ETF by the SEC is now priced in but the approval isn't there yet. In a worst case scenario the SEC could still refuse all running applications for BTC and/or ETH ETF's.
In the unlikely event that this would happen, we could see a mayor correction that could (or will?) wipe out all recent gains (and then some).
But for now, let's enjoy the rally and hope for SEC confirmation.
What are your thoughts on the rally? Are we in full bull-mode or do we still need to be cautious?
