Somehow i think that the general players in the BTC market are letting the Government misdirect their attention, allowing their ETF approval/disapproval game to manipulate and control the market.
They're somehow forgetting that Bitcoin hasn't had ETF before. It actually was created to have a currency that was free from manipulation, control and regulation by banking or governments.
Once they remember this, or are reminded of that by the alt-coins, they will realize Bitcoin once reached 20K without ETF. And maybe it didn't do that despite not having ETF but maybe it did it because it had no such regulations conformity.
At that point the actual important things like crypto-currency adoption, penetration and saturation will become the market's motivators. That has been steadily increasing despite the market's volatility, be it at a slower pace than before.
Also there's a point coming at which the ICO-tsunami will end, putting an end to the ludicrous number of coins, crypto-based projects and block-chain to asset gluing attempts that we've been seeing over the past year. This will be the start of the alt-coin massacre during which many coins and other trade-able crypto stuff will plummet in value and eventually disappear.
If the bitcoin is still there when that happens it will of course shoot up in price at warp speed. If not Bitcoin then whichever alt-coin has been able to show it can remain fast, anonymous, safe and still be cheap to use.
So i am confident that when the "ETF Show" is over the bitcoin price will go back to following its own path. It will return to its rebellious roots, and its fundamental need, its purpose, to be the decentralized, safe, anonymous cheap and independent currency of the world. I predict that before the end of the year it will pass the 10k boundary and won't look back until the last coin has been mined.
What happens then, no one knows.
They're somehow forgetting that Bitcoin hasn't had ETF before. It actually was created to have a currency that was free from manipulation, control and regulation by banking or governments.
Once they remember this, or are reminded of that by the alt-coins, they will realize Bitcoin once reached 20K without ETF. And maybe it didn't do that despite not having ETF but maybe it did it because it had no such regulations conformity.
At that point the actual important things like crypto-currency adoption, penetration and saturation will become the market's motivators. That has been steadily increasing despite the market's volatility, be it at a slower pace than before.
Also there's a point coming at which the ICO-tsunami will end, putting an end to the ludicrous number of coins, crypto-based projects and block-chain to asset gluing attempts that we've been seeing over the past year. This will be the start of the alt-coin massacre during which many coins and other trade-able crypto stuff will plummet in value and eventually disappear.
If the bitcoin is still there when that happens it will of course shoot up in price at warp speed. If not Bitcoin then whichever alt-coin has been able to show it can remain fast, anonymous, safe and still be cheap to use.
So i am confident that when the "ETF Show" is over the bitcoin price will go back to following its own path. It will return to its rebellious roots, and its fundamental need, its purpose, to be the decentralized, safe, anonymous cheap and independent currency of the world. I predict that before the end of the year it will pass the 10k boundary and won't look back until the last coin has been mined.
What happens then, no one knows.