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RE: Why has Bitcoin risen in recent days? - Personal opinion

in Project HOPE3 months ago

Hi @josevas217

Thanks for sharing your personal opinion. I think that considering the fact that ETF just took place and we are also past stage of initial profit taking, plus halving is coming and investors anticipate interest rates cuts in US ... that causes most people to hold on to their crypto.

There is simply not that many people willing to sell while constant demand coming from blackrock and other investment funds is obviously there. It's hard not to expect that crypto market will continue heading up.

At the same time I would not be surprissed if those big boys would use their resources to crash the market once every now and then. And wipe out all those who over-leverage themselfs.

These fund managers like BlackRock are assuming more and more power in the crypto environment, and to tell the truth, I don't think it's a very good thing at all, but it is happening.

Dream of asset class independent from those big entities is already dead. Dream behind BITCOIN got hammered with ETF approval.

Cheers, Piotr

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