Topic: Blackrock ETF/Bitcoin will destroy the (new) cryptocurrency industry soon... - page 2. (Read 297 times)

Not sure what this youtube wanted to convey, but this is pure speculation and perhaps FUD. I don't think that anyone can destroy cryptocurrency as a whole. If it will fail, then we won't see the sudden and massive explosion in Bitcoin.

So yeah, this is pure non-sense, perhaps just wanted to promote this video here and got views. But for crypto enthusiast, we've seen wars already and then the pandemic, and it didn't have any significant effect on crypto market itself. And I guess that's make at least for Bitcoin to become more stronger is that it has 4 year cycle, based on bitcoin halving. So there is a sense of balance, as we have bear and bull cycle.

That tested the limits of my tinfoil beeny.

Well no institution is going to touch shitcoins, ever.

Check out the newish EDX exchange, the exchange of the giants.


https://www.coindesk.com/business/2023/08/22/crypto-exchange-edx-market-taps-anchorage-as-custody-provider/

They only will deal in BTC, BCH, LTC and ETH. You may see some outliers but that's it, that's what is going to be for now. When they announced this you can see a jump in LTC and BCH that is for the most part lasting.

This space would be better off without a thousand shitcoins and that market cap end up in the above preferably BTC. Nobody at the institution level gives a shit about features, fluff and window dressing.

Well that was a silly rant lol

Here is the thing: If you sell your shitcoins now, you can still get a good price for them and buy bitcoin right now, while it's still cheap. Then later bitcoin goes to 1 million and it will have been worth to sell of the shitcoins right now.

It won't take long for people to catch on...

Now that's some conspiracy theory LMAO. I'll have whatever you're smoking, please.



No offense, but you'd have to be absolutely illiterate to believe this — and I'm saying this as a person who holds a ton of altcoins. Bitcoin and other cryptocurrencies are simply in very different categories.

"Causing altcoins to rise..." to be then sold off again by those that could not get out.

If bitcoin would be 1 million dollar per bitcoin what do you think would happen to alt coins right now ?!

Concerning wallstreet argument, it seems to be a major hassle right now, taking months to get big order/buys approved, so you would be wrong about that !

If this is the content of the video, I'd rather not watch it. This sounds like a poor conspiracy theory. It exaggerates too much. It generalizes a lot. And it also made wrong assumptions.

Even if BlackRock's Bitcoin spot ETF won't be approved, Wall Street can still buy Bitcoin. Bitcoin isn't some company stocks that are not available to everybody. Bitcoin is public. Nobody will require and evaluate forms and declarations in order to buy Bitcoin.

And whether BlackRock will succeed in its application or not, Bitcoin will get back to $69,000, reach $100,000 and beyond.

These are what I did not like:


and


Bitcoin is not obsolete.

Meaning of obsolete:

I agree to this but most of the altcoins will increase and fall back to the prices they were before bitcoin halving occured. Some may not also get to all-time-high.

I think it's nonsense. There is a strong correlation between Bitcoin and Altcoins. Altcoins will continue to rise because people holding Bitcoin have diversified portfolios, so the same people who profit from Bitcoin will put some of their profits into Altcoins, causing Altcoins to rise. Also Wall Street can already purchase Bitcoin if they want, an ETF is not really needed to do that.

https://www.youtube.com/live/2CcFUYjxrvM?si=jWMr2rERPwjcRPU2

Text from video:

Title:

Blackrock ETF + Bitcoin will destroy the cryptocoin / cryptocurrency industry very soon.

24 october 2023 by Skybuck Flying

Bitcoin will become an ally for the USA goverment/Whitehouse/Biden who want to destroy the cryptocoin industry to protect the USA Dollar.

Bitcoin is not the real threat. It is actually all the other new cryptocurrencies which are much much much more advanced than Bitcoin.

Bitcoin is old and obsolete compared to the new stuff.

So here is their plan:

The Blackrock ETF will be approved very soon and this will allow "wallstreet" to buy bitcoin.

This will cause major price surge of Bitcoin. Bitcoin will basically go to 1 million, 2 million, 3 million etc...

Thus will persuade owners of shitcoins to dump their shitcoins and buy bitcoins... which they can then sell again for USA dollars, so there will be demand for USA dollars.

USA also posses bitcoins from seizures, so they can lower bitcoin whenever they want somewhat, but that is beside the point, it would be a temporarely drop.

The last couple of days there have been Bitcoin Price Spikes.

It's now very clear that these are "TESTS" to see what would happen and to see how the market reacts...

It's a bit nasty right now, because it seems people are making a wrong decision, they believe if bitcoin rises that all other alt coins will rise too, so people are now buying a bunch of shitcoins everywhere... but these will soon crash very fast and very hard ! I warned you !

Sell your shitcoins while you still can.

Conclusion:

Major financial attack coming on the cryptocoin industry/cryptocoin currencies ! Most shitcoins will go to zero/become worthless.

My estimate would be: Destruction within one week, maybe even just a couple of days as people start to realize what is going on.

Whoever sells their shitcoins last, is going to be the major sucker....