[CryptoButthead.com , msc , tlei, January 12, 2024] Ash and Booker here, still navigatin’ through the second week of 2024, and let us tell ya, it’s been as wild as a buckin’ bronco, just like good ol’ 2023.
First off, we gotta talk ’bout some hacker hijinks. Some rascals posted in the name of the SEC on X (that’s Twitter for y’all who ain’t keepin’ up) claimin’ them Bitcoin ETFs were approved. Quick as a hiccup, the SEC hollers back, “No siree, that wasn’t us!” Then, lo and behold, a day later, the SEC themselves go ahead and approve eleven Bitcoin ETFs. And Gary Gensler says somethin’ like, “Yeah, we approved the ETFs, but that don’t mean we’re sweet on the idea of Bitcoin.” Can you believe it? Talk about cheap theatrics!
Now, here’s the kicker that really shows the state of affairs for the current style of investing in the good ol’ US of A. Them Bitcoin ETFs start tradin’, Bitcoin’s price shoots up, and Blackrock’s Bitcoin ETF IBIT was sittin’ pretty with a 25% rise in pre-trading. But then, wham! A sudden spike in US consumer prices throws a wet blanket on hopes for interest rate cuts. Inflation’s up to 3.4% in December, and everything that was in the green goes tumblin’ down to red.
Folks, it’s high time to quit this war politickin’, get back to good ol’ diplomacy, and steer clear of that weird WEF agenda from Klaus Schwab’s puppet show. It ain’t doin’ no good for investin’, peace, or the people.
The more we see, the more we’re convinced Bitcoin’s the answer to a heap of problems. So, we keep on jumpin’ on the Bitcoin bandwagon this year. We’d consider Ethereum too, but we’re already sittin’ pretty with ETH. Looks like we keep on beefin’ up our Bitcoin stash from here.
The SEC, posted on X a tweet basically warnin’ folks not to FOMO into Bitcoin. But let’s bring our gal Cathie Wood into the mix: Cathie says, “Bitcoin at $600,000 by 2030 is my base case, and the bull case is $1.5MM.” Cathie, we just love your spirit!
On the first tradin’ day of the US Bitcoin ETF, over $2.2 billion US dollars flowed into Bitcoin, with BlackRock’s new spot bitcoin ETF toppin’ $1 billion. That’s somethin’ to holler about!
But then, American investors let Coinbase, Microstrategy, and even stocks like Tesla slide into the red. Nearly every applicant for a spot bitcoin ETF plans to use Coinbase as its custodian. Cathie Wood chimes in again, sayin’ her base case for Bitcoin is ’round $600,000, and the bull case is closer to $1.5 million in the next 10 years. She reckons the biggest risk was regulators scaring off innovation from American shores.
So, we’re in agreement: Bitcoin ain’t just a risk-on asset; it’s a risk-off asset too. It don’t even make sense to trade Bitcoin instead of HODLing it.
Bitcoin’s hoverin’ around US$46,168 and Ethereum at US$2,599. There’s plenty of room to grow, but with inflation headwinds, it ain’t gonna be no walk in the park pushin’ them prices higher. Elizabeth Warren’s givin’ the SEC a hard time over lettin’ spot bitcoin ETFs slide, sayin’ crypto needs to follow anti-money laundering rules. That woman sure has a peculiar take on reality. JPMorgan’s predictin’ spot bitcoin ETFs could see up to $36 billion in inflows.
Vitalik Buterin’s all for raisin’ Ethereum’s gas limit by 33% to boost network capacity. We gotta stay patient, friends.
It’s a long road ahead, but we’re stickin’ to what we do best in these situations… Cheers!
Editorial Disclosure: The editorial content on this page is not provided by any entity mentioned herein. Opinions expressed here are the author’s alone, and have not been reviewed, approved or otherwise endorsed by any of these entities.
Disclaimer: Yo, this is Booker your CryptoButthead talkin’, man. This article is for entertainment purposes only and does not constitute financial advice. Invest responsibly, y’all! Don’t take it too seriously. Crypto investing is serious, just like any other investments. Get real info, dude. Remember, investing is extra risky. If you don’t know, ask someone who does. This article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Furthermore the author(s) of this article may or may not hold a position in the mentioned stock or digital asset. None of the companies or organizations discussed in the above article have paid for this content. The information provided in this article should not be considered financial advice, and readers should always do their own research before making investment decisions. However, as with any investment, there are potential risks and uncertainties to consider, such as potential regulatory changes, market volatility, and competition from other players in the industry. It is important for investors to carefully monitor this stock or digital asset and its performance over time to make informed decisions about their investments. cryptobutthead dot com is a project of The SiLLC Assembly. This site is for entertainment purposes only. The owner of this site is not an investment advisor, financial planner, nor legal or tax professional and articles here are of an opinion and general nature and should not be relied upon for individual circumstances.
Hey guys, if you liked the article and want to give back a little, you can send us a small donation in Bitcoin, we are not the richest guys around, but every little bit helps us keep this website up and running and write more articles like this one.
So, if you want to send us a few sats, just make a transfer to our Bitcoin address, which you can find below or use the QR code.
Bitcoin address: bc1qcs35vjdsdxgqhugg05mh469ngrezv2s38fajn0
Thanks in advance for your support and for reading our article. You guys are the best!
The post From SEC Shenanigans to Bitcoin’s Bright Future – A Rollercoaster Week first appeared on cryptobutthead.com.
Ash and Booker, the dynamic duo from CryptoButthead.com! Hailing from the heartland, these two hillbillies have traded their banjos for blockchain and their moonshine for mining rigs. With a unique blend of rustic charm and crypto savvy, they navigate the digital currency landscape with wit, humor, and a touch of good ol’ country wisdom. Whether they’re breaking down complex crypto concepts or sharing tales from the backwoods, Ash and Booker bring a refreshingly down-to-earth perspective to the high-tech world of cryptocurrency. Yeehaw and hodl on!
