It seems that the SEC cannot sleep at night due to their concern about crypto investors. Check out the latest message that they sent regarding FOMO.
Say no to FOMO
Check out the following tweet:
JUST IN: 🇺🇸 SEC posts warning to investors to say no to "FOMO" about "digital assets"
Gearing up for spot #Bitcoin ETF approval? 👀 pic.twitter.com/lDMDdqV99Z
— Bitcoin Magazine (@BitcoinMagazine) January 6, 2024
Someone said: “Translation: wait until #Bitcoin gets to $500k or $1 million then its safe to start buying.”
A follower said: “the rapid influx of funds that have previously been hesitant or too scared to invest in Bitcoin (and crypto by proxy) will be huge for introducing Bitcoin as a store of value within the global economy.”
Another follower said: “The SEC sounding the FOMO alarm – it’s like a financial wake-up call How are you interpreting this SEC message in the context of the potential Bitcoin ETF approval?”
Bitcoin in the market
There is a popular Bitcoin analyst named Credible Crypto who has gained a following with his accurate predictions about Bitcoin.
According to him, Bitcoin is displaying signs of an upcoming rally on both spot and futures markets.
This optimism is due to the expected approval of several BTC ETF applications by the U.S. Securities and Exchange Commission (SEC). The news of the potential approval is causing the market to wait anxiously in anticipation.
“No change on BTC and it doesn’t get any cleaner than this. Ignore the low time frame chop on the sub-daily timeframes right now and zoom out just a bit. The picture is clear:
1. Price making higher lows and higher highs in a tight consolidation with
2. Open interest at the lowest levels of the entire consolidation and
3. [Perpetual futures] basis flipping negative to indicate spot trading at a premium while
4. Funding has been completely reset.
All this to say that we are literally as un-frothy as possible with levered players washed out, funding at baseline, and spot leading the markets into what is arguably the most bullish fundamental catalyst over the last few years.
Don’t overcomplicate it – number go up. BTC.”
