Yes, best to stay far away from the Bitcoin / crypto sector imo. People have made money trading it, but the central bank finance ghouls were never going to allow competition to their monopoly control over what we use as 'money'. The CBDC is their future, so cryptos are being 'deep sixed' and regulated out of existence.
Or so goes the logic, but now we see Blackrock entering with their spot Bitcoin ETF. According to the article, the ETF's 'surveillance-sharing agreement' aspect is the clincher that will allow the SEC to approve the ETF. So presumably any anonymity aspect to Bitcoin will be gone, but the 'surveillance-sharing' feature could be the main thrust, and have other functions. I generally stay away from Blackrock ETFs anyway.
Bitcoin and the cryptos are currently having a big bounce off the bottom, which I guess shouldn't be too surprising since the US dollar is tanking so hard lately. Longer term the dollar's prospects do not inspire confidence, thanks to ominous factors like de-dollarization, the parabolic US debt, the new BRICS currency, etc. But the crooks at Blackrock will always find a way to profit, perhaps as you said, by 'selling and shorting into the rally they are creating'. Personally, I'll stay clear of the crypto space.
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