A market rife with manipulation and even the heads of government agencies are trying to get in on the manipulation game. Many people believe that the SEC should be sued and fined for this action even if their accounts were hacked or they were the ones manipulating here.
Majority think that it is not his account that had got hacked, it's just his way to manipulate the market. But goodness gracious, we're still back @ $46k.
While it's true that the bitcoin etf spot will definitely be a good contribution to the upcoming bull run. But check out the past bull runs, there were some other factors too but it's still most likely the entire bitcoin ecosystem that did its own thing.
Halving will still have the largest chunk of the contribution but hey, any contribution that will help the market go up, we won't be rejecting.
ETFs have helped gold achieve outstanding growth, so if a bitcoin ETF is approved, we will see the same in bitcoin. There is no denying the appeal and importance of ETFs, although over the past 14 years, bitcoin has not needed an ETF to achieve its current achievements. But if spot ETFs are approved, that would be what helps bitcoin gain even more popularity and growth.
Yeah, that's how it helped gold reached the ceiling and we're all believing that the same impact it will do to Bitcoin. But with all of these possibilities, I think that SEC and the rest of the financial institutions are just trying to pick all the best to this market before that happens.
Just as the bear market not only consist of money running out and a decrease on the price of bitcoin, and instead it appears because of the accumulation of a great deal of negative news over a short time span, the same is true for the bull market, in which not only the halving takes place, but many positive news begin to emerge and that causes people to be very bullish about the future prospects of this market.
So if a bitcoin ETF was approved by the SEC this will surely help the price of bitcoin to move faster and higher than what bitcoin could do without it, however we do not really need it as a new ATH is likely coming anyway.
Yes, no doubt that it will help Bitcoin's price to skyrocket but before that happens, they're just trying to control it before anything positive happens. It will eventually come out no matter how they manipulate it through everyone's concern about the result.
