Look at the Spot Ethereum ETF Approval from This Perspective! Remarkable Analysis from the Famous Bitcoin Maximalist!

In a surprising twist, a prominent Bitcoin maximalist known as The Bitcoin Therapist on social media platform X has spoken optimistically about the recently approved Ethereum ETF. Initially skeptical, he now sees the confirmation as a positive for Bitcoin, describing ETFs as an “incredibly bullish” signal for the largest cryptocurrency.

The Bitcoin Therapist highlighted that the approval of the spot #Ethereum ETF is likely to trigger a significant capital inflow into the cryptocurrency market. Believing that this development will benefit the market in a way that will spread throughout the market, the Bitcoin maximalist stated that the approval of such ETFs indicates the desire to recognize the legitimate demand for various cryptocurrencies and said, "As long as there is real demand, your cryptocurrency will be approved no matter what."

Despite the bullish outlook, The Bitcoin Therapist warned of potential risks associated with capital flows. He expressed concern that this could lead to a rise in “memecoins and scamcoin fantasies” and potentially cause disruptions for some traditional finance (TradFi) funds.

The #Bitcoin Therapist: “This will be a disaster, yes. "It could even be a disaster for some TradFi funds," he said. However, he claimed that he is confident that Bitcoin will eventually emerge from this chaos as the biggest beneficiary, and that Bitcoin will absorb capital from failed projects as it has in previous cycles.

The Bitcoin Therapist predicts that there will be a significant inflow of funds into the cryptocurrency market in the next 4-5 years. He believes this will be due to various funds making a desperate attempt to secure #ETF approvals. “I have no doubt that funds will pump a lot of money into this space,” he says, expecting some projects to succeed and others to fail, but he thinks Bitcoin will absorb them all.
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