Previously, Grayscale filed a lawsuit against the U.S. Securities and Exchange Commission (SEC), arguing that the SEC’s reasoning that Bitcoin spot ETFs are more risky than futures ETFs because their prices are easily manipulated is completely unfounded, and demanded that the SEC must review its request to convert GBTC into a Bitcoin spot ETF.
Just now, the news of Grayscale's victory came. The U.S. Federal Court of Appeals ruled to approve Grayscale's request for review and revoke the SEC's order, requiring the SEC to review Grayscale's ETF request. Subsequently, Grayscale CEO Sonnenshein said, "In our lawsuit challenging the SEC's decision to reject GBTC's conversion into an ETF, the Washington, D.C. Circuit Court ruled in favor of Grayscale. Our legal team is actively reviewing the court's opinion.
An SEC spokesperson also said that the SEC is reviewing the court's ruling on the Grayscale Bitcoin ETF issue to determine the next steps.
It is worth noting here that although Grayscale’s victory is a good thing, it does not actually mean that Grayscale’s GBTC will definitely be allowed to be converted into a Bitcoin spot ETF. The specific decision still needs to wait for subsequent developments.
Short term - sentiment is positive.
Medium term - I don't know when the BTC spot ETF will be approved. In the medium term, we still need to pay attention to the monetary policy of the Federal Reserve. (It's not superstition about macroeconomics. All creatures under the sun, even plants that bloom at night, follow the solar cycle.)
Long term - it should be considered a positive. The SEC, as the US Securities and Exchange Commission, will also lose the case, and the BTC spot ETF is worth looking forward to. The approval of the BTC spot ETF means that BTC will join the ranks of global mainstream assets, which is positive for blockchain applications and the entire currency market.
The market where stocks rise by copying any random project may become less and less common, but rational analysis will become more and more effective. This should be considered a positive, don’t you think?
Finally, many people are saying that "one big bullish candle means thousands of troops are coming to meet it."
Little do we know that the thousands of soldiers are the sickles in the other village; the tens of thousands of horses are you and me in this leek.
In my opinion, this so-called "timeliness", investors' own imaginary bullish/bad news and imaginary time periods are usually inaccurate. In essence, they are all guessing at the short-term behavior of the market.
The short-term behavior of the market is difficult to predict.
How to achieve the best escape
Those who know how to buy are apprentices, those who know how to sell are masters
1. "Escape the top" is the most critical step in the entire investment. At the top of any bull market, almost 100% of investors are in a profitable state, but in the very short period of time when the "bull market" turns into a "bear market", only 10% of people can lock in profits and preserve their profits to become winners.
2. I have observed for a long time that there will be at least two or three mid-term adjustments in the process of the bull market in the cryptocurrency circle. After each adjustment, it will continue to advance rapidly. When it comes to the last adjustment, most people think that each adjustment is the best opportunity to enter the market. Everyone is excited, so no one will sell when it falls. They wait foolishly for it to rise higher again. Then, the bull market will end and fall sharply. Therefore, it is very important to judge as accurately as possible which rise is in the last "crazy" period.
3. The judgment of the market at any time is based on: emotional theory + specific market situation, which is to judge the public's "enthusiasm" for the current bull market as accurately as possible. This is an important basis for judgment. Once the market sentiment is too high, it is time for us to pay attention.
Or the volume of a new wave of increases does not reach a new high, or is even lower than the previous wave, but the price keeps reaching new highs. This is a highly dangerous signal, indicating that the market may change at any time. You must know that once a change in this situation occurs, the lethality will be extremely
4. In any stage of the bull market, do not be fooled by the skyrocketing market value of your account every day. You must clearly realize that trend investment cannot reach the peak, and there will inevitably be a certain degree of profit withdrawal. If you still keep staring at the highest market value of your account and fantasize about reaching the highest point, then you are no different from most gamblers who are crazy about killing.
5. The simplest selling principle is to use the 30-day moving average as a reference. If the 30-day moving average is broken, the position should be liquidated unconditionally. At this stage, you must keep a very calm mind and clearly know that the task at this stage is not to bet on a possible rise after adjustment, but to find an opportunity to exit unscathed on the basis of maximizing profits.