Bitcoin potential pump and dump before ETF
Diupdate
its 3 weeks til sec decides about the COINETF (March 11)
bitcoin chart looks like we are going to a new high once $1080 is broken.
It seems like the etf gets priced in, I think this could lead to a pump and dump because i expect the ETF not to get approved for a simple reason:
What should happen with the etf if bitcoin forks/split into two chains (bigger blocks / 1mb block / segwit)?
Sec could look like an idiot if they have no plan for this case.
Good target here is the channel top crossing with the 1.272 fib for $1240 then dump to $900-$1000
notice that this is linear chart this time, in china the channel fits only on logscale.
bitcoin chart looks like we are going to a new high once $1080 is broken.
It seems like the etf gets priced in, I think this could lead to a pump and dump because i expect the ETF not to get approved for a simple reason:
What should happen with the etf if bitcoin forks/split into two chains (bigger blocks / 1mb block / segwit)?
Sec could look like an idiot if they have no plan for this case.
Good target here is the channel top crossing with the 1.272 fib for $1240 then dump to $900-$1000
notice that this is linear chart this time, in china the channel fits only on logscale.
Catatan
really like that one :) youtube.com/watch?v=DuoE5CXlIdY&feature=youtu.be&t=41m47s
Catatan
New monthly in few days, not much to do here right now, just holding on the long term coins. Out of all margin money.ETF should trigger some price actions but i think on the long term bitcoin does not need an etf:
Remember that banks want to build on top of a virtual currency, they kinda want to build a blockchain based settlement system. Also stock exchanges testing blockchains to improve the settlement. So why take something which already is digital and move it in a legacy overregulated system which will be replaced by the same technology in the future? So I think bitcoin etf would just be a temporary way for lazy hedge funds to get in bitcoin earlier.
Catatan
great post from vinny about the etf and current situation, I see it very similar: ETF isnt the best thing right now at this time: vinnylingham.com/preventing-another-bitcoin-bubble-98dee44e2c7cCatatan
whats wrong with the links these days ;/ vinnylingham.com/preventing-another-bitcoin-bubble-98dee44e2c7cCatatan
last try ^^ vinnylingham.com/preventing-another-bitcoin-bubble-98dee44e2c7cCatatan
and there is the dump
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