A very interesting week for bitcoin
Hello friends, after more than 2 years of continuous fights, fat injustices, false accusations, criticism and an innumerable list of lies and manipulation, bitcoin finally wins the battle against the SEC and on January 10 we made history again after the definitive approval of the first united states spot etf.
Without a doubt, a long process that this week has caused a lot of uncertainty in the market, especially after the alleged hacking of the SEC and the false publication of the approval on Tuesday, but the next day it ended up being confirmed, generating a lot of expectation and leaving the doubt as to whether this This fact will be the trigger for a new bullrun and how the market could react in the short, medium and long term.
SEC Twitter account hacked? |
|---|
In case these last few days you have been locked in a cave, last Tuesday an announcement came to light that absolutely no one expected, a tweet published by the official account of the SEC SEC that stated the following today the SEC guarantees the approval of the bitcoin ETFs For listing on all registered national securities exchanges the approved ETFs will be subject to different ongoing surveillance and compliance measures to ensure investor protection and this tweet basically confirmed the approval of the ETF on the 9th instead of the 10th which It unleashed madness among investors.
However, just 15 minutes later the SEC drama would begin and Gary Gensler wrote a tweet stating that the SEC account had been compromised and that none of the bitcoin spot ETFs had been approved at the moment.
But before Gensler's announcement, the SEC's announcement had a direct impact on the price of bitcoin, causing the price to go from rising from 46,000 to almost 48,000 in less than half an hour and later plummet, falling even below the 45,000 which destroyed many investors, liquidating leveraged positions and leaving a drain of more than 1 billion dollars in losses.
This is quite curious, especially when it comes to the SEC, which supposedly does everything possible to protect investors and has been criticizing the crypto sector for so long for being dangerous and having too many scams, yet they publish this false approval and destroy investors.
However, this fact was reviewed by Twitter, which on Wednesday morning confirmed that the SEC account had been compromised and also discovered that the account did not have any two-factor security system and, although it is hard to believe, one of the most important accounts did. that belong to nothing more and nothing less than the body that regulates the markets of the main world economy can be hacked that easily.
These are incredible and they do not even have a two-factor authentication which raised many suspicions about whether they really had all this planned in advance and it was an action by the SEC to have an excuse with which to postpone or manipulate the launch of the bitcoin etf .
Bitcoin ETFs are finally approved |
|---|
Bitcoin makes history no matter how much they wanted to avoid it, on the 10th of this month finally at 9:47 pm the SEC officially announced and this time without hacks that the ETFs had been approved a very important announcement in which they not only approved an application but rather they confirmed the 11 pending applications that had been updated.
The SEC approved all of them at the same time, as had been predicted for a long time, but why all at the same time? We are talking about one of the largest investment funds in the world and the fact of approving the ETF before some others could cause a competitive advantage, something that neither the SEC nor the funds were interested in.
So, in order not to complicate things even more, they decided to approve all of them simultaneously, a brutal piece of news regarding mass adoption that, after what happened on Tuesday, many already assumed that they were going to reject all the requests. In fact, this joy could be seen. reflected in social networks such as Twitter where negative news did not stop arriving.
But all this uncertainty ended with the approval of bitcoin ETFs. Let's wait for the market's reaction in the medium and long term, since after the approval the price of bitcoin managed to rise to $49,000 thanks to the fomo generated, but the opportunists took advantage of the fomo to take profits and take the money of the enthusiasts for the moment. We just have to wait and see what direction the price of bitcoin takes in the next few weeks.
| If you are interested in reading more about the subject you can visit these two websites. |
|---|
 |  |
|---|
Thank you, friend!
I'm @steem.history, who is steem witness.
Thank you for witnessvoting for me.
please click it!
(Go to https://steemit.com/~witnesses and type fbslo at the bottom of the page)
The weight is reduced because of the lack of Voting Power. If you vote for me as a witness, you can get my little vote.
https://twitter.com/joel_jai1/status/1745835710546887079
Note:- ✅
Regards,
@theentertainer