Elon Musk just announced a crypto giveaway event to celebrate the twitter rebranding LIVE

https://www.reddit.com/gallery/159nak0

Elon Musk just announced a crypto giveaway event to celebrate the twitter rebranding LIVE

https://www.reddit.com/gallery/159m5s4

Elon Musk just announced a crypto giveaway event to celebrate the twitter rebranding LIVE

https://www.reddit.com/gallery/159mlhk

Elon Musk just announced a crypto giveaway event to celebrate the twitter rebranding LIVE

https://www.reddit.com/gallery/159kc0n

Bitcoin Spot ETFs Approvals: Will this Event be Catastrophic for Bitcoin and the Cryptocurrency Market?

Let’s discuss about the event which it is said to trigger “the next bull run besides making Bitcoin price go to the $100,000 levels” and why this could actually result in the opposite.

The End of “Crypto” as a Key Word

We all have read about the news of Bitcoin Spot ETFs Approvals in the United States. The vast majority of cryptocurrency traders and investors are convinced that a positive outcome would result in a new bull run, skyrocketing Bitcoin prices, and basically making everyone “rich”. But what if this was all planned?

I believe that the rapid and radical shift about how Wall Street sees Bitcoin(and cryptocurrencies in general) is strategical, due to an programmed upcoming event: Bitcoin Halving. By surfing the halving trend, investment funds could attire much more capital and as a consequence make much more profits. Remember, these companies are designed to make money from commissions and not from the assets they invest into.

In addition to this, a green light from the US S.E.C. would mean that these ETFs would be an attack to cryptocurrency’s intrinsic nature: the “crypto” principle would be at risk. If you trade an ETF share, you and the amount of Bitcoin you buy(via the share) will be linked. No more anonymity. What would be the job of Bitcoin at this point? It will be just another product of “The Street”.

Final Thoughts

To sum up, if Spot ETFs applications get approved Bitcoin’s price action could be easily be artificially manipulated with sharp movements both to the downside and upside. Also, Bitcoin’s supply would be concentrated in the hand of large institutional players, making the statement “a peer to peer electronic cash system” simply meaningless.

Otherwise, rejections could bring the real bleeding. I think that de-banking events will increase significantly: this could lead to no stablecoins redemptions and no more withdrawals in fiat currencies. The reality is that we give value to cryptocurrencies because they are linked with the real world via fiat currencies. The lack of the latter would be a collapse of cryptocurrency market.

Speculation Box

(1) What would happen if more shares are issued than the actual held Bitcoin reserves?

(2) Based on the recent launches and development of Central Banks CBDCs, what if Bitcoin was nothing else than a prototype for this kind of Digital Money?