Market Update

If you missed the fake news today, Cointelegraph Tweeted out today that the Bitcoin Spot ETF for BlackRock was approved. This was fake news but Bitcoin hit $30K almost immediately. This move upward must have absolutely obliterated anyone who was leveraged short. Now the interesting part, the price is somehow still holding for some reason. I first thought that this may have been people waking up to the numerous accounts that didn’t delete their Tweets saying that the Bitcoin spot ETF was approved but after seeing even more strength it makes me wonder if we will hear about an approval in a couple days or so. This is ONLY SPECULATION but I can’t help but wonder this.

What we can take away from this is that the REAL news of a spot ETF getting approved will skyrocket the price. This is pretty obvious now. As I have been saying countless times before, the ETF alongside the Bitcoin halving will be the perfect storm. In the meantime, I think this news shook up a LOT of bears who have been sitting on the sidelines waiting for lower prices. They are now buying so that they don’t miss out.

In the meantime we are relaxing here. We have been taking advantage of the accumulation phase so that when the rest of the world frantically FOMO’s in when prices are rocketing up, we can sit back and relax. This is how I have treated every bull market I have participated in since 2012.

Have a great day.