BITCOIN

joep2

Interesting discussion, not sure many are aware that a senior JP Morgan exec is behind the crypto project RQRX (formerly RVP). RVP tokens were traded until late last year before the contract was paused as part of their migration to RQRX.

https://rsquared.digital/

MeteredOut

Scottex99 said:

Moving on, see you at $50k tomorrow afternoon when these things get approved, NFA

Surprised this was not posted:

https://www.reuters.com/technology/bitcoin-etf-hopefuls-still-expect-sec-approval-despite-social-media-hack-2024-01-10

Never reached $50K though, even after the SEC twitter announced the news, took it down stating it was apparently hacked, then the site was "recovered", and then the SEC did announce the news.

I suspect quite a few made some $ on the bounce due to the "hack"

But, the announcement hasn't really changed the recent price and it looks like it was already priced in. Almost like a real investment

Scottex99

Ha, just came on to post similar.

Tuesday was the "compromised" tweet which Gensler then had to tweet from his own account saying the SEC twitter was hacked.

Yesterday they announced it on their website, then deleted the link for about 30 mins then reposted it saying all were approved, clowns.

What's interesting is weeks ago an "intern" from Cointelegraph did similar and there was massive price action until it was disproved, Then two nights ago the same. Then last night....not much.

It did get near $49k earlier. Officially it's just speculation anyway until the actual funds start to flow in through each ETF. Apparenlty $2.5bn today but I've not looked into how legit.

https://blockworks.co/bitcoin-etf

joep2

Are these bitcoin ETFs available to UK investors?

Scottex99

Through a US broker maybe? 

DannyCarey

Looks like its a sell the news event

Scottex99

Sell it all event right now 😀

Scottex99

Catastrophic crash to sub ~41k.

Not entirely unexpected as we’d run up pretty high pre ETF. Apparently the numbers for BlackRock and Fidelity are big but a lot of outflows from Greyscale to Coinbase as people take profit. VanEck already closed theirs down.

Not much else to report. That was a potential demand event and then the supply event comes with the halvening.

I’m bullish for sure over 18 months 

MeteredOut

Scottex99 said:

Catastrophic crash to sub ~41k.

Not entirely unexpected as we’d run up pretty high pre ETF. Apparently the numbers for BlackRock and Fidelity are big but a lot of outflows from Greyscale to Coinbase as people take profit. VanEck already closed theirs down.

Not much else to report. That was a potential demand event and then the supply event comes with the halvening.

I’m bullish for sure over 18 months 

But you said it was going $50K+?

I believe it peaked just under $48K as those that believe the ETF announcement would "send it to the moon" threw their money in.

I suspect we'll see a similar pattern as we get nearer the halving, with the price rising ahead and then dropping after. I'm not confident enough in that to take a contrarian position, however

Scottex99

Yep for me it pumped less than expected but it was already “high”. I forgot about the obvious Greyscale dumping tbf.

There will have been loads of retail getting in at a “sell the news” event like they always do, no different to buying whatever stock at IPO. But if they bought spot they can just hold and it’ll be $50k soon enough, imho.

Not clever to make price predictions of course but $30k something could come in then builds up from there post halvening. $41k is very decent considering everything that went on late 2022