I do agree that Bitcoin is too hot to handle for them to do these ETF products. It is strange in some respects because certain things don't look that positive but then other things like today thing are coming back to life and that sense of FOMO hits. Arthur Hayes put in a short position previously for BTC to go to 50K which I never try to short or bet against this stuff like that.
Also with all these black swan events that seem to happen once a month it does get confusing how explosive this stuff could get.
A lot of people are looking at the election as an indicator for sure but when you look at the Google trends for search terms like Bitcoin it doesn't look good. Also a lot of the volumes on the alts haven't been impressive but we are seeing some signs of life. Also there is the fact that people are out of money essentially and the layoffs will continue to ramp up so all that is hard to factor in. Really hard to say overall and we are all fighting to not be all gums after getting our teeth kicked in by inflation.
Could you imagine bitcoin going to $10k, but buying more?
It is possible if the derivatives market just vaporizes with all that electronic dollars.
In the great depression there were hella good deals, but no one had money to buy them
I have thought of those scenarios as well and it is a big worry that if someone can't be dominating the competition in whatever industry and be in the upper 0.5% they get sucked down with the economy and don't have money to buy when those deals are there.
Timeframes are tough but at some point people can't keep up with all the forced insurance and property tax and inflated goods. Then things lock up hard stuff unravels. Everyone is sprinting at redline blowing all their NOS not knowing where the finish line is.