🔥 Bitcoin Spot ETF Approved: BUY THE RUMOR & SELL THE NEWS 🚨
Updated
The BTC spot ETF has finally been approved, but will it result in the massive bullish pump that EVERYONE has been expecting.
My answer: No.
It's public knowledge that the Bitcoin spot ETF will be approved at some point now for months. Thus, most traders have already bought a position in anticipation.
Like nearly every ETH/BTC ETF news we got this year, I'm anticipating this to be a Sell The News event.
If there's something that I've learned over the years, it would be that if everyone expects a certain outcome, the opposite will often happen.
Yes, this is long-term great news for Bitcoin. However, I highly doubt we're going to see the massive shift in trend that people have been hoping for.
Nevertheless, I'm happy to be wrong, as a new high this year would definitely be against my expectation. The market has to prove it wants to go up first before I believe it.
Be warned.
My answer: No.
It's public knowledge that the Bitcoin spot ETF will be approved at some point now for months. Thus, most traders have already bought a position in anticipation.
Like nearly every ETH/BTC ETF news we got this year, I'm anticipating this to be a Sell The News event.
If there's something that I've learned over the years, it would be that if everyone expects a certain outcome, the opposite will often happen.
Yes, this is long-term great news for Bitcoin. However, I highly doubt we're going to see the massive shift in trend that people have been hoping for.
Nevertheless, I'm happy to be wrong, as a new high this year would definitely be against my expectation. The market has to prove it wants to go up first before I believe it.
Be warned.
Note
Just in: ETF has NOT been approved, it's still under review!
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