As we all noticed, the market is quite bullish now, we hit $40k and it's already trading above that level.
I said "bad news' because with this recent development involving CZ and Binance, this usually bring some negative sentiment but look what's happening, the market is going on the opposite side and it kees getting bullish.
So this is just my observation, like in the past, about exchange getting hacked, China FUD, etc.. it all resulted to a BULL RUN!
So is this guy? Tell me about your opinion about this....
Many people have predicted that Bitcoin will nosedive if anything negative happens to Binance. But the recent attacks on Binance don't affect the market and it might have given investors more confidence that Bitcoin is a viable investment. This might have been the reason why many investors are buying more bitcoins because they perceive that the sector is gradually becoming immune to FUD. So in this case we can assume that a piece of negative news brought a positive impact on the Bitcoin sector.
The main highlight is the news of the approval of the Bitcoin ETF filings by Blackrock et al instead of the case involving CZ which did not even affect the performance of its platform. Bitcoin ETFs have created market optimism since the last quarter of the year which marked the start of a new bull run session.
Here's the latest news:
https://cointelegraph.com/news/blackrock-100-k-seed-fund-for-bitcoin-etf-sec-filingThe general expectation that the SEC will approve the spot ETF is the major driver of this price growth. From all indications, the SEC might approve it because they have failed to appeal an unfavourable court judgement and have been having a series of meetings with the spot ETF applicants. If the SEC approvals those applications, the price of Bitcoin might keep increasing until the price gets to an All-Time High.