While I am really looking forward and highly expecting that once an ETF is approved by SEC, there will be a push for BTC to immediately get into a new ATH...but sadly my expectation never materialized as right now we are experiencing a big correction. So I am wondering...what is happening?
Bitcoin was at $15.4K per Btc in November, it hit 3x a few weeks ago, why?
Because the ETF positive news were already priced in, there was a schedule, there were already hundreds of things pointing that a rejection will not happen, there was a legal case that forced them to either say yes or no and there were little arguments for a no, so rather than looking at the 10% loss from January 11th , better look at the 200% gain we had for no reason if we exclude the fomo about ETF that dominated all the news in the last three months!
And this will be the playbook for the halving also, too many area already treating the jump as aa set in stone event, there will be a lot of profit taking a lot of disappointed faces when they won't see lottery style in a year!
I now remember a remark made by Gary Gensler - a man I do not like heading SEC - and essentially he said that ETF is actually centralization...away from the main concept of Bitcoin which is decentralization.
Well, let's be honest about, if Butterin fart in his sleep tonight and wakes up scared of that you have ETH changed to POW next month!
Ethereum is centralized around him, there is no decentralization when nobody can go against one person's vote, no matter the size of the majority.