Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
AlexGR
on 06/09/2017, 07:41:39 UTC
While we're talking about speculative articles, what do you think about this?

Dear Crypto, You’re Being Played By Wall Street
https://medium.com/@JesseLivermore/dear-crypto-youre-being-played-by-wall-street-35a1117ef859

I'll tell you right now... Take the part which I've underlined as an example:

Quote
Here we are. Dalia Blass is named Director of the SEC’s Division of Investment Management on August 31 and we just saw a massive rally again. But now there’s no more hype machine to get the Crypto-sphere going, PLUS it’s time for the new SEC Director to ‘put up or shut up’ and anything other than immediate ETF approval means immediate dumping of Crypto.

BTC has gone from nothing to 5k without any ETF. All the delays and rejections never halted its progression. All the scenarios that BTC would dump due to ETF-denial have failed in the long-run... Why? Because this kind of thinking is too american-centric, in a sense that everything revolves around what the US does. It doesn't. BTC is global. The BTC equivalent is the global gold market, not a wall street stock or US-based security. Countries may allow or ban gold buying for periods of time, but the effect is always absorbed by a global market.