Andreas Antonopoulos bursts Bitcoin ETF bubble calling it a “terrible idea”

Home » News » Andreas Antonopoulos bursts Bitcoin ETF bubble calling it a “terrible idea”
August 20, 2018 by
Andreas Antonopoulos bursts Bitcoin ETF bubble calling it a “terrible idea”

“I’m mosting likely to break your bubble,” this is just how Andreas M. Antonopoulos, a major Bitcoin enthusiast, clarified Bitcoin ETF. He believed that his explanation would certainly make several crypto enthusiasts interested in the Bitcoin ETF take their go back as it is a “awful idea”.

” I understand a lot of people really intend to see an ETF occur since “to the moon as well as lambos!” But I assume it is a dreadful suggestion. I still believe it is mosting likely to occur, I simply believe it is an awful concept. I’m really versus ETFs. I believe a Bitcoin ETF is going to be harming to the ecosystem,” he stated.

SEE ALSO: U.S. Congressman invites exchanges, crypto firms to discuss ICO regulation: report

Bitcoin ETF can manipulate prices

Concerning Bitcoin ETF’s ability of bring in considerable quantity of direct exposure, its emergence has triggered expectations. It has actually also seen a surge in costs and also trading quantities once it has been authorized.

ETFs can open up the Bitcoin market to a team of institutional financiers and also can likewise give a system for large investors to manipulate the rate of Bitcoin (BTC). Antonopoulos in his YouTube video collection, ‘Bitcoin Q&A’, he claimed: “Everyone is so thrilled regarding ETFs. Just what we have actually seen in various other markets is that when an ETF appears, the rate really increases dramatically, as suddenly that commodity becomes available to a great deal more investors and these financiers overdo.

SEE ALSO: EOS, Ethereum and Komodo are the top 3 coins according to the Chinese Government

” But, the opposite side of it, is that there are always these cases that the commodities markets are greatly controlled as well as opening up these ETFs only enhance the capacity of institutional investors to manipulate the costs of products.”

Leave a Reply

Your email address will not be published. Required fields are marked *

© Copyright 2018. The Coinjournal. Designed by Space-Themes.com.