$BTC
Many people are now waiting for a Bitcoin correction; some even expect it to reach 40,000. I’m not a big crypto analyst, but looking at the inflows into spot Bitcoin ETFs, it’s not clear who would need to trigger this massive sell-off.
If you’re not aware how exchange-traded funds work, I’ll explain it in a nutshell: each issued share must be backed by a real asset. That means if inflows into Bitcoin ETFs continue to grow, the funds will have to buy Bitcoin on the exchanges and hold it themselves as collateral for the shares. At the same time, it doesn’t matter at all how much it will cost: even if the price $BTC rises tomorrow to 500,000, the funds will still be buying it—they simply have no choice.
Basically, I don’t believe in a big correction, so I’m going to try to position myself within the broader long-term uptrend.
Right now I’m seeing some decent support levels, from which I will be accumulating carefully with minimal risk.
#BTC
Many people are now waiting for a Bitcoin correction; some even expect it to reach 40,000. I’m not a big crypto analyst, but looking at the inflows into spot Bitcoin ETFs, it’s not clear who would need to trigger this massive sell-off.
If you’re not aware how exchange-traded funds work, I’ll explain it in a nutshell: each issued share must be backed by a real asset. That means if inflows into Bitcoin ETFs continue to grow, the funds will have to buy Bitcoin on the exchanges and hold it themselves as collateral for the shares. At the same time, it doesn’t matter at all how much it will cost: even if the price $BTC rises tomorrow to 500,000, the funds will still be buying it—they simply have no choice.
Basically, I don’t believe in a big correction, so I’m going to try to position myself within the broader long-term uptrend.
Right now I’m seeing some decent support levels, from which I will be accumulating carefully with minimal risk.
#BTC
