What does that mean?
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SEC approves the first Bitcoin spot ETF
- Thread starter Sensorei
- Start date
Google says Hold Onto Dear Life
Sensorei
Executive Member
Bitcoin will probably shoot up briefly but it will happen fast and then dip, when whales will try to push the price lower. So if you aren't sitting staring at your screen waiting to sell or have sell limit orders set, you will be back at break even or at a loss before you know. That's usually what happens and is what happened with the CME Bitcoin contracts launch in 2017 and the Bitcoin futures contract launch in 2021.
You must realise that whales can also short sell a Bitcoin spot ETF. The big players are already in huge profits now since buying under $20K, There is more profit to be made by dumping the market and buying the dip after a liquidation cascade, than by pumping the price now.
Right. Personally I'd be buying every other shitcoin but BTC right now. ETH ETF is the new narrative and when ETH pumps we know what comes next.
Tabac
Honorary Master
You want to buy my BTC ?
I will never trade with a racist boer, no thank you
I'm no crypto expert, I just recently got my feet wet after my brother convinced me to get into this. So knowing what you know about the market and the recent ETF approval, would you say it's more prudent to sell and hold until there is a correction and *then* buy back in, or just hold and see what happens?
The idea of staring at my screen until 2pm in the morning which is what I did this morning ..... was pretty taxing.
Tabac
Honorary Master
Set price alerts. Sell high, buy low. Take profit.
Yeah but it's not that simple right? Unless you can make perfect predictions. I mean I can sell right NOW. And then just wait. And maybe by tomorrow bitcoin has dropped a few thousand $. Or ... bitcoin has pumped a few thousand $ from all the ETF transactions and then I lose out. Until the next cycle.
o my the next round of how do I buy crypto is about to start.
Q the scams etc.
Just stick to valr or luno @backstreetboy can hook you up with his ref.
Then just buy BTC and forget about it.
Never buy with debt. STAY THE F away from futures or anything that has leverage.
NEVER BUY MORE THAN YOU CAN AFFORD.
Also you can just buy and take profit as you want.
Dont forget about tax.
Q the scams etc.
Just stick to valr or luno @backstreetboy can hook you up with his ref.
Then just buy BTC and forget about it.
Never buy with debt. STAY THE F away from futures or anything that has leverage.
NEVER BUY MORE THAN YOU CAN AFFORD.
Also you can just buy and take profit as you want.
Dont forget about tax.
That last part. It's funny I just spoke to my tax consultant I've been using for the past 10 years and she doesn't know anything about Crypto tax or anything of the sort. So she's looking into it. I don't know if many tax consultants don't know or if it's just a new thing or only a few tax experts really understand what is required.
People over complicate crypto its an asset and treated as such you buy and sell on an ongoing basis or even a few times a year -> income tax.
You buy and hold for a decently long period WITH ZERO sales usually 3 years -> CGT (slight nuances apply here but unless you buy and forget this is not you)
You swop crypto its a taxable even and treated inline with the above.
You buy anything with crypto same as the above.
There crypto tax 101
If the tax consultant doesnt understand crypto tax they dont understand tax.... Its an intangible asset simple as that.
Crypto Assets & Tax | South African Revenue Service
20 March 2026 – Budget 2026 Frequently Asked QuestionsKey Crypto Assets & Tax changes from Budget 2026: FAQs on the Crypto Assets & Tax changes
www.sars.gov.za
backstreetboy
Honorary Master
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Time to stock up. Just use VALR https://valr.com/invite/VAQUJKDJ
Quicks
Executive Member
Just another bubble waiting to pop. I mean history keeps repeating itself here. Good to make money, but Wouldn't say buy and hold for 10 years.
Get in while it's low and sell quickly before it crashes again.
Get in while it's low and sell quickly before it crashes again.
Sensorei
Executive Member
I could be wrong, but I've been trading crypto for many years so these days I'm right more often than not. Its more that that ETH outperforms BTC in the short to medium term. I sold all of my BTC and bought mostly ETH after seeing the reaction after the initial fake news about the ETF approval. It was clear that whales were moving profits into ETH so it made sense that the same thing would happen after the real ETF approval. I've already now sold 30% of my ETH and am watching for when BTC starts it's correction.
But I've been planning all along to take my profits on BTC when the ETF starts trading based on what's happened in the past. I got destroyed in 2017 when the CME launch BTC contracts and Bitcoin dumped.
yeah I couldnt care less about the "tech" been in this game for YEARS and cash out the peaks and enjoy profits while ppl scream hodl...
Sensorei
Executive Member
Exactly.
Im not looking to make a quick buck, I am buying crypto for long term, until I have enough for a 2nd hand new Suzuki Supper Carry 1.2l with less than 5000km on the clock from a private buyer that will accept BTC as payment, or keep my crypto for 15 years and then enjoy a nice ocean cruise for 6 months (also something where I am paying crypto directly and can avoid SARS). SARS can voetsek, Ive already paid income tax on this money already.
This is pure speculation but not out of the realm of possibility - if we get a $2 billion later today when trading starts flowing into BTC then that could result in big gains, correct? Do you not think we'll see gains trading later today in BTC? The bitcoin ETF announcement seems to have been priced in, but not the inflows of cash as a result correct?
Black Rock apparently is lining up $2 billion for trading on the first day. Bloomberg is predicting $4 billion later today. Now this might not happen, but still pretty exciting and pretty darn bullish to me.
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