"Consummatum est". The approval of spot Bitcoin ETF's, a moment long awaited for months, especially by the American economic mafias, who are not used to waiting... is now a fact. A long soap opera has come to an end, with last minute waits, postponements, requests and repetitions, we even witnessed the "hacking" of the official account of a "respectable" institution, with its subsequent manipulation.
We have "gratefully" contemplated how the usual powerful have accepted Bitcoin in their bulging wallets, and have spent millions of dollars in advertising to sell it.
Initially it went up, of course... something it usually does without a gang of mobsters pushing it. Then as it also tends to do, it turned around... and soon there was nothing left of the gains.
Will it go back up, I probably don't know. But what I do know, and we have all witnessed it, is that for Bitcoin this mafia is no help, it is at the very least bad company. For them it has also been an embarrassment (if they have one) Because if they thought they were so important, the opening of this market has made it clear that they are not. Not only do they not matter, they are ridiculous scammers.
Getting them into the crypto market, even with regulation, will bring inevitable scandals... Bitcoin and the crypto ecosystem in general will suffer the consequences. What is there to be happy about the adoption? Yes, but not that the owners of everything, pretend to put a hand, in what was created precisely, to leave them out of our lives as much as possible.
For the time being, let's welcome Bitcoin ETF's with derision.