Daily Crypto Markets Live Blog: Bitcoin ETF Approved..Partially (10/16/21)
1 yr
1 Min Read
153 words
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BITCOIN
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Will the ETF push Bitcoin to $100K?
I think this will give it the boost to push it higher.
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Happy days for bitcoin but not so much for alts it will probably just bring in new investors and drive investment towards Bitcoin. A good thing if you have bitcoin but I do not.
Can we get an ETF for Hive thanks 🤣
Wouldn't owning some SWAP.BTC help you in this case?
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Lol an ETF for hive will surely be good but it will not come easily. Bitcoin ETF faced a lot of opposition before the present acceptance. We just have to hope that cryptocurrency is regulated and we can then have confidence with Hive
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There is still a long way to go.
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That is why a good marketing campaign is necessary, so that people can see how valuable HIVE is, of course an ETF of HIVE would not be bad at all.
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An ETF on HIVE would probably be tough but I guess it might be part of some crypto ETF instead.
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Just a word to the wise, unfortunately the bull run of 2017 ended right after they approved futures. I'm not saying this is the case here (there just seems to be too much money coming in from the institutional side to have this all just come to a screeching halt), but ETF's on futures, NOT real Bitcoin, is not necessarily a positive in my mind. All you have to do is look at the precious metals to see what ridiculous amounts of paper can do to the underlying asset.
As I've said in the past, I don't think the kind of whales in Bitcoin are going to let that fly here but...it's the legacy system's way of trying to maintain control. We'll see what happens. I'm definitely not a seller, but I'm not buying either. Just HODLing. Time will tell as always.
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Most times one is left to wonder on the reason behind hodl. Now people held their Bitcoin when it was $60k some months back and they held it even during the dip. For one who sold when it was $60k and bought back during the dip, he tends to be in more profit than one who have been HODL for long.
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You make a good point here, but as you say there is a lot of money to be made by big companies that are not willing to lose, so it is possible that in this case it will be very different.
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I don't know. What is the next catalyst to push BTC higher? I don't really see it besides some people joining the ETF to push prices. However this pump won't last forever for so we need more catalyst.
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In the case of HIVE or other alts, what would these catalysts be?
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It could be anything like the Speak Network and other applications. If HIVE gets listed on exchanges then it could also be a catalyst.
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Well , the fact is that the ETF acceptance will to an extent push the price of Bitcoin up and we have already started seeing it. We just have to watch the market and see how far it can go.
However just like Newton's law , to every action there is an equal and opposite reaction. People might turn towards ETF more than Bitcoin itself and this brings the question can ETF demand increase the price of Bitcoin itself ?. Also if there come a time the ETF support is withdrawn, there is likely going to be a crash in the market.
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Hahaha well, what you say is 50% and 50% true, because people love that money keeps growing so if the price of bitcoin goes up the interest in ETFs will also go up, and as in relativity it is a safer investment, people will prefer that.
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Of course, I totally agree with you.
Hopefully this will also incite people to look at other currencies and start buying, and that will lead them to HIVE LOL
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Quick and simple explainer for anyone:
Remember that the key here is that it's a Bitcoin FUTURES ETF.
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CRYPTOCURRENCY
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Question .
When you want to invest in any cryptocurrency project, what are the things you look out for, use cases , market cap or something else ?
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To be honest I don't look into market cap that much, especially if it's a new project. I try to look at the fundamentals and who's behind it.
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Of course, looking at market capitalization does not help at all, since FOMO will always exist and it is dangerous to invest in something just because everyone is buying, I went through and lost all my money in a goose.
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I investigate who audits the project, then I look for more than 100 pages or reviews that tell me honestly about the project, then I investigate to see if it is not a clone of a previous scam system, and then if everything is perfect, I invest.
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I think I like to see more about the use cases. Without any good use case, I find it hard to persuade myself to build a position.
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As you may be able to tell, my investments in *new cryptocurrency projects are fairly limited by my list.
(Buy HIVE.)
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Well not really bad , it boils down to proper research made before investing in new projects. The Binance smart chain has opened door to many fakes cryptocurrency projects.
If a crypto ETF (with or without BTC) isn't enough of a catalyst to start a bull run or to sustain a bull run, maybe an index fund of various cryptos can be released. The index fund would be a good option for younger people whose tolerance for risk is not as high as it needs to be when it comes to crypto.
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HIVE
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Hive is not following the Bitcoin bull run but that is okay.
This is going to be achieved by development, not hype.
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Nothing is following the Bitcoin bull run everything seems to be down. Binance was around $AUD800 last time bitcoin was at this price. I think everyone is consolidating in Bitcoin because of the ETF and preparing for a bull run. Maybe Alts are next.
Could be. Hard to tell.
I am not surprised that Hive isnt following. I did expect a pullback after the run up last week.
Doesnt seem like it is ready for permanent breakout.
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You can never fully predict a market but I have been buying Hive. I know I should have done it earlier like last year which I was but I am in a different financial position now than previously.
Man, gone are the days you could pick up 1000 Hive for under $100 once tokens hit a certain price typically over $1 they tend to go on a bit of a bull run. Lots of people are starting to build on Hive but there are some barriers. It over $7000 to launch a token/community this needs to be fixed or people will just go elsewhere.
I'm also currently looking at establishing a project as Australian fed gov has committed grants to crypto start ups and pulling in a cyber security dev, a mate.
Still early days and I need to do alot more work but I have something in the pipeline.
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$7000? I thought I read in some FAQ somewhere that it cost 3 HIVE to forma community. I must have missed something in the time I've been here.
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I'm not sure but I think the 3 HIVE is just for having a community. If you want like a full tribe with a proper frontend, a token and all that stuff then it's probably much more expensive.
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It seems like a lot of people are dumping their alts to join the BTC ETF hype. So when we do reach a top, I do think people will rotate out.
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Oh yeah definitely, good time to pick up cheap alts and considering they haven't dropped much we can probably expect them to rise significantly.
Buy when people are not looking at it. It's pretty much the best thing to do when you believe in it's future.
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Anyone following such method is probably a newbie because I strongly believe that there are going to be massive altcoins bull coming up very soon .
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It's pretty much FOMO at this point. It doesn't need to be rational.
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That's true and while it may be a longer path, it's a much more sustainable one too.
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