ETF Approval, do we have reason to celebrate?

[examplens]

What are we celebrating here?

OK, quite a bit of euphoria has been created due to the ETF approval, I have seen many invitations to celebrate, and I find it especially interesting from ordinary users. So I wonder, what exactly do we "little" Bitcoin users get from this event and why should we be happy about it?

The way I see it, we're just getting another big player who will keep a large amount of Bitcoin under his control. Whoever decides on an ETF, will be given Bitcoin for "safekeeping" and in return, they will receive a dividend in Fiat. So, again Fiat, is exactly what we wanted Bitcoin to destroy.
Also, Bitcoin enters the WS, a market that is almost dependent on manipulation, it is of course an atmosphere suitable for big players and big stakes. How resistant is the Bitcoin ecosystem to such a thing?

Second thing, everyone is looking forward to record values, and rising BTC prices, but what happens when it reaches $200k, for example? For us ordinary people, it will be much more difficult to collect a significant amount of Bitcoin, so even from that point of view, I see no reason to celebrate everyone who has less than 30BTC in their wallet.

[bayu7adi]

Thanks for sight to everyone hoping for the quick approval of the Bitcoin ETF. A lot of Bitcoin users are indeed looking to make a profit from buying and selling , which explains why many people reflexively support Bitcoin being on WS asap. Many holders believe that the value of their wealth will increase without considering what developments Bitcoin might experience when it arrives on Wall Street.

Personally, I don't expect much from the Bitcoin ETF. In fact, I think it will be rejected multiple times for a long time. I'm not preparing for any decision from the SEC, and I won't be selling or buying Bitcoin just because of the SEC's recent decision. My selling target for BTC is already set, but I want to hold onto it longer, at least until the halving occurs.

Just enjoying the moments within Bitcoin itself rather than external factors..

[JoyMarsha]

The expectation of bitcoin ETF approval has been drawn for so long and it is a good thing that it finally got accepted today even though many of us don't know the future downside of it in years to come due to the fact everyone's focus was what the upcoming halving and bull run has for us toward bitcoin price.

If what you stated here is what we are to expect in years to come ''for bitcoin to go way beyond the price of ordinary investors would acquire'', that means, let everyone not sell their whole accumulated bitcoin at once during the bull run. Investors should sell 60% of their bitcoin if possible and hodl 40% because nobody what tomorrow's price of Bitcoin would be

[sampoerna]

This news about approving Bitcoin ETF means that most or even all of the people are very happy and satisfied with the results. Because after all, the hope is that with the approval of the Bitcoin ETF, it will be able to increase the price of Bitcoin or will have an impact on the price of crypto in the market. So no matter what, our expectations of Bitcoin's price will always increase.

[examplens]

This news about approving Bitcoin ETF means that most or even all of the people are very happy and satisfied with the results. Because after all, the hope is that with the approval of the Bitcoin ETF, it will be able to increase the price of Bitcoin or will have an impact on the price of crypto in the market. So no matter what, our expectations of Bitcoin's price will always increase.

But for example, can you give me an explanation why the higher price of Bitcoin will have a positive effect on you? What is the main benefit that you or I or the majority of members from this forum will have from BlackRock or the higher price of Bitcoin?

[I-Bit]

Yes, Bitcoin ETF is approved already. I think we can celebrate it because it is a big news for crypto industry. However, I'm not sure how far this news to bring the influence for crypto prices. I see that some coins starting to increase their prices. But I don't see the Bitcoin price increase very significantly. I may need time for the Bitcoin price to skyrocket. 

[Primo1760]

Yes, Bitcoin ETF is approved already. I think we can celebrate it because it is a big news for crypto industry. However, I'm not sure how far this news to bring the influence for crypto prices. I see that some coins starting to increase their prices. But I don't see the Bitcoin price increase very significantly. I may need time for the Bitcoin price to skyrocket. 

Yes, of course we can celebrate Bitcoin ETF approval because Bitcoin ETF approval is very happy news for Bitcoin users and Bitcoin investors. The news of Bitcoin ETF approval hit the cryptocurrency market a lot. We saw Bitcoin go from $44,000 to $48,969 as soon as the Bitcoin ETF was approved. But even if the market doesn't see a peak in Bitcoin ETF approvals, we know the Bitcoin halving isn't much longer. After the Bitcoin halving we may see a peak market for Bitcoin.

[dwyane36]

Yes, of course we can celebrate Bitcoin ETF approval because Bitcoin ETF approval is very happy news for Bitcoin users and Bitcoin investors. The news of Bitcoin ETF approval hit the cryptocurrency market a lot. We saw Bitcoin go from $44,000 to $48,969 as soon as the Bitcoin ETF was approved. But even if the market doesn't see a peak in Bitcoin ETF approvals, we know the Bitcoin halving isn't much longer. After the Bitcoin halving we may see a peak market for Bitcoin.

The approval of spot BTC-ETFs will have a long-term effect on the crypto industry. It will probably take several months or even years for the market to peak, although I think many traders and enthusiasts were expecting and anticipating that the BTC price would easily break $50k and "fly to the moon" immediately after the news was published.

[gunhell16]

Maybe then we will celebrate when the 11 companies that have been approved have a decided allocation amount so they can have Bitcoin holdings. Because right now, in my understanding, they still have a few months of compliance to follow for their holding of bitcoin.

This is their requirement, and they know it, and when the total amount of each of these companies is announced, Blackrock and Grayscale are leading, and here for sure there will be an immediate rally in the price value of Bitcoin.

[ABCbits]

As stated by others, it could raise Bitcoin price. But on other hand, it means people become more reliant towards custodial service and less likely to use Bitcoin as currency or payment method.

[de_prof]

thanks..
Hopefully EFT will be approved, I see many people are very enthusiastic to hear it .
Maybe there are many people want to see this proposal will be approved, me too.
I think It will make good for bitcoin performance at market before bitcoin halving..
Honestly, I'm waiting moment what will happen about EFT bitcoin

[Odohu]

Market reaction shows that the much awaited ETF was not a big deal after all, just another hype that some market manipulators used to make some profits. However, looking at it holistically, I think the Bitcoin ETF approval is something good for Bitcoin. First, it will add legitimacy to Bitcoin and will be a pathway for legalization of Bitcoin in several jurisdictions, by given some countries that placed outright ban on Bitcoin reasons to have a rethink.

Another good thing about the ETF approval is that it will create the much needed publicity for Bitcoin to flourish. From yesterday till now, there have been several commercials in reputable media houses regarding regarding Bitcoin. This is good and surely a nice way of selling Bitcoin to good percentage of human population.

Finally, there will be injection of capital into Bitcoin following the ETF approval. New funds by extension mean more liquidity for Bitcoin and a way of discouraging market manipulations as well.

[Sim_card]

Yes, Bitcoin ETF is approved already. I think we can celebrate it because it is a big news for crypto industry. However, I'm not sure how far this news to bring the influence for crypto prices. I see that some coins starting to increase their prices. But I don't see the Bitcoin price increase very significantly. I may need time for the Bitcoin price to skyrocket. 

This bitcoin ETF approval will make bitcoin be for the rich alone in future because the price will skyrocket and a poor or an average man might not be able to buy bitcoin, which makes it not going to benefit the poor but only the rich. It is only individuals that have a significant amount of bitcoin that will benefit from this. Majority of bitcoin will soon be controlled by centralized platform because in the upcoming bull run, a lot of individuals with small bitcoin will sell to Blackrock thing that they are making huge profit and they will forget that it will be hard for them to buy back such amount of bitcoin in 10yrs. It is better that the little amount of bitcoin that you have shoukd be cherished and hodli for a very long period of time so that you will still be happy that you own those bitcoin in future. If a lot of investors don't sell their bitcoin during the next bull run, and keep your coins in self custody, the amount of bitcoin that Blackrock will be in charge will not be as high as when we sell to them. It is only we that can keep the decentralized nature of bitcoin by not giving up our bitcoin to third parties to keep for us.

[Peter90]

What are we celebrating here?

Whoever decides on an ETF, will be given Bitcoin for "safekeeping" and in return, they will receive a dividend in Fiat. So, again Fiat, is exactly what we wanted Bitcoin to destroy.

... and I thought I was the only conspirationist here! 

[$crypto$]

I received many email invitations about the Bitcoin ETF celebration from various platforms that I had signed up for. It's probably a celebration that they do after successful approval.

I don't really have a reason why celebrating the Bitcoin ETF after approval, just happy about this good news that now bitcoin is entering more institutional investors into bitcoin with large funds, maybe we as retail investors will not feel that impact, it's just that from this news the possibility of bitcoin prices can record even higher especially this is combined in 1 year of two major Bitcoin ETF events and soon the halving will occur soon. So for me it still makes sense if bitcoin reaches ATH 200K.