We saw millions running from Bitcoin and other cryptocurrencies and Alt coins due to the recent decision by the SEC to delay acceptance of the proposed Bitcoin ETF.
This makes me giggle. While the institutional investors are quietly loading up on Bitcoin and the like through over-the-counter exchanges (so that they don’t cause huge spikes in the price of whatever they happen to be purchasing under the radar) the fearful run away creating even better sale prices for investors.
The gamblers come in, drive up the price and then run screaming when shit doesn’t go their way. Rushing in and out may work for some, but the real money is made in the long term by buying the dips and holding while the industry moves forward into the mainstream.
There is nothing wrong with taking profits, of course, but the rushing in and out on the off chance that there is some super fantastic new thing happening is fucking dumb. I think that we won’t see any ETFs approved this year. September will come and go and the date will be pushed back again and when that date comes and goes it will also be postponed. Maybe we will see something next year.
There are so many other things going on that the SEC giving the green light on an ETF is just icing. Research the projects and invest in those that you believe in that are doing something that has true value and only those projects that have a finite number of tokens/coins so that can’t be created at will to devalue the currency like all fiat currencies do. These are the only projects worth placing your trust and hard earned money into.