2024: The Year Of Halving And Bitcoin ETFs

With 2024 just beginning, we are witnessing very interesting things in the crypto market. And I say "interesting", because I couldn't classify them as positive at first glance. However, I think we should take a closer look at everything that happens in the market and not judge anything at the first opportunity.

Bitcoin ETFs are here

The BTC halving year is just beginning and we already have the news that Bitcoin ETFs have been approved. I've said at times that this will all be part of BTC adoption, but I'm not saying that because I think Bitcoin ETFs will be a positive thing in the grand scheme of things, but for other factors.

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In fact, in my opinion, I'm telling you clearly, in short, the BTC halving is a positive thing, but Bitcoin ETFs are not...

The vision I have of all this is that it is a great effort that the institutions are making to stop the advance of BTC and profit in the process, but I sincerely believe that the shot will end up backfiring on them.

The truth behind Bitcoin ETFs

The truth of the matter is that I believe that all of this about BTC ETFs is a play that will end up going badly for the banks, Wall Street and any large capital involved in the matter. What is the reason why I believe it? Simple, the very nature of Bitcoin works against them. The truth is that Bitcoin is unique, and therefore, it is different from gold, silver, oil, and any other known asset.

Wall Street's intention behind creating ETFs is to create an instrument that allows them to shake the market of the main cryptocurrency on the market, while they fill their pockets with the profits derived from it. It's a macabre plan, I know, but that's the only possible explanation for all this.

So, in other words Wall Street has created the Bitcoin ETFs with the aim of controlling the price of BTC and destabilizing the crypto market. This will have implications at the level of taxes, regulations and KYC processes in all exchanges that allow such instruments.

It is quite obvious that in order to create these instruments, Wall Street has had to gathering large amounts of BTC, and they aim to seize much more in the future. But this play is precisely what works against them.

Bitcoin is different

As I already said, Bitcoin is different from any other asset known to humanity, which is why everything that is happening in the market is unprecedented. So, many Wall Street analysts try to compare it with gold, silver, oil, currencies, etc., but BTC is different from all of them, therefore, any analysis that tries to compare it with something that already exists is banal and meaningless...

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Because Bitcoin is a digital asset, the first and most important of its kind. Its maximum emission limit is 21 million units and it is mined at a rate that decreases by half every four years. Furthermore, as we already know, it is decentralized and secure.

By the way, speaking of this, we are currently in the year of Bitcoin's halving, which will necessarily make it more scarce. And it must be said that in the behavior of the market in the face of the scarcity factor, it is the only thing in which BTC is similar to any other asset, but outside of that, no one can take possession of all the available BTC, no matter how much they try it.

But let's suppose for a brief moment that such a scenario were possible, that is, let's suppose that some company or bank or institution or government could take over most of the available BTC and put it under the form of an ETF. The reality is that if this were to happen in the future, then they would be left with an asset that people would no longer want to own.

Why hasn't this happened with gold? Simple, although gold is an scarce asset, there is always the possibility of discovering new mines somewhere in the world, and there are always people who can buy even in small quantities. But if something similar happens with Bitcoin, the consequences will predictably be bad for those who keep all the available BTC. Because an asset is valuable to the extent that people know and manage it. So, So, the availability to be able to buy and sell the real asset plays a very important role in all this.

And ETFs are not the real asset, although they claim to be supported by its value. That is, having BTC ETFs does not make you a BTC holder, you know it, and I know it. So basically, Wall Street wants to exchange our Bitcoins for papers that will supposedly have the same value of BTC. It's kind of like what happened with fiat money and the backing of the gold standard, and we already know how that story ended, right? With the abandonment of the gold standard, and with fiat money that has no real value in the background, and that is increasingly devalued more and more...

So they are trying to undermine the only thing that gives value to BTC, the trust of those of us who buy it and believe in it and the worth of the technology itself. But Satoshi Nakamoto did not bring BTC to say that it is the only way to trade and make money, but to show us the a better way, and that is why there are thousands of cryptocurrencies on the market today. Although it is true that none are as important as Bitcoin today, it is also true that in the event of the unlikely scenario that Banks and Wall Street will take over most of the available BTC; then the crypto community will always be able to choose some other cryptoc on the market and make it in the most important one.

Therefore, we, the crypto community, are the ones who define the dominance of a cryptocurrency in the market, and that is why if BTC had to come down from the Olympus of cryptocurrencies, which I do not think is possible, there would always be some contingency plan for the market...

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What those of us who really know Bitcoin do

All people who really know what Bitcoin is and know its real value and usefulness know that the only possible option is to buy BTC on the Spot market. Because Bitcoin ETFs are an antics and one more attempt by BTC enemies to harm the world's main cryptocurrency.

I believe that, and I know that is the reality of the matter, furthermore, why would I want to buy an instrument that represents Bitcoin, when I can buy Bitcoin and store it myself? It doesn't make sense, right?

But all of this will end up backfiring on Wall Street, the US government, and anyone else involved, because at best they won't be able to hurt Bitcoin; and at worst, if they do, they'll end up with big financial losses.

But retail traders and investors like you and me, dear reader, just have to stay alert, buying BTC on the Spot market and holding it for as long as possible. All this to be aware of whether at some point we see things are getting very bad, so we can abandon ship in time, and save our capital.

If the BTC ETFs fail, as they predictably will, we will be one step closer to the adoption of cryptocurrencies, and if not, we will have a little more delay in the matter. Anyway what it is clear that the global adoption of cryptocurrencies is not something that governments or bad actors can stop, if that were the case, cryptocurrencies wouldn't even exist in the first place.

In any case, despite the despites, I estimate that 2024 will be a very positive year for Bitcoin and for all of us. The Halving will occur in May and that will most likely bring us a new ATH (All Time High) of BTC. If all this happens, it could be a year of big profits for all of us who buy and sell Bitcoin.

What do you think about the topic discussed? Please comment.

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