Pantera Capital, an investment firm that manages, among other financial products, a bitcoin (BTC) fund, published on Nov. 15 its vision for generating profits in the market.

He noted that, currently, there is a lot of talk about the potential approval of a spot bitcoin exchange-traded fund (ETF). And he noted that on Wall Street there is an old saying that goes: "buy the rumor, sell the news." However, in his view, this strategy does not apply on this occasion.
The theory behind such a saying is that if most investors who are interested in an imminent event anticipate that development and buy an asset before the event takes place, then by the time the actual event arrives, many of the buyers have already exhausted themselves. That's why those who invested beforehand make the decision to sell to make a profit. All this leads to a price increase in the previous stage that is dismantled after the achievement of the expected event.
Pantera Capital warns that adage worked perfectly in the last two big regulatory announcements in the market. One was the launch of bitcoin futures on CME in 2017, which led to a nearly 2,500% rise in the run-up to the event and plunged 84% after the completion.