The Bitcoin community has high hopes for the approval of the first Bitcoin Spot ETF by the SEC. However, in our opinion, a long-term price gain from the BTC spot ETF is a fundamentally wrong expectation. Perhaps there may be a short-term, maybe even a large, price increase, but this will only mark the beginning of future price fluctuations without any positive long-term developments.
The price will behave very similar to the gold price. Long-term increases will be extremely moderate and the chances of massive increases in value are extremely unlikely. In addition to that, it's to be expected that the risk of market manipulation will increase significantly, as has been shown repeatedly in the past with the price of gold.
With the approval of a Bitcoin Spot ETF, Wall Street, referred to here as a representative of the professional financial industry, simply has one more asset in its toolbox, resulting in a minor market and target group expansion. Earnings are simply made from the continuous ups and downs of the Bitcoin price. These profits are paid for by less informed or slower market participants. Of course these are also the small investors, crypto maniacs, crypto traders, etc.
So what can Bitcoiners, the community or crypto enthusiasts do, to prevent or mitigate this less than hopeful fate of Bitcoin? Are there any ways out of this gloomy forecast?
Here is a short list of the most important things you can do yourself:
- Don't trade
- Be sure to to purchase Bitcoin directly and not through ETFs
- Usa a crypto custody that guarantees you access to your Bitcoin at any time
- Rather send Bitcoin than money - It's just as quick and easy
- Help with Bitcoin adoption - Use Bitcoin whenever possible
Self-custody can only ever be one part of your own Bitcoin strategy. Because after all, Bitcoin shouldn't just lay around on the shelf or in the basement like the proverbial (gold-colored) lead. Great adoption requires a great Wallet like BitBucks, which allows safe custody, instant asset access via smartphone and Bitcoin transactions in a matter of seconds.
Even if the resources and volumes of the professional financial industry are much higher and greater than those of the Bitcoin enthusiast community, there is still a chance for Bitcoin to not share the same fate as gold.
Let's make Bitcoin great again!
The opinion presented is the result of our own analysis and does not represent any kind of investment recommendation. Inform yourself and, above all, not just in the mainstream media.
With BitBucks you combine safe crypto custody under German financial market supervision, while still being able to send Bitcoin to friends and family without any fees.