Topic: Bitcoin ETF Approval; Price dumps, what Next? (Read 802 times)

Its definitely going to be fun to watch the corporate adoption and what the end amonts will be in all these new ETFs in one years time. I look forward to seeing this next cycle follow through. Right now the ETF didn't quite have the ramp up that everyone was expecting so I am guessing it is more of a let down for most of those folks because they are already straight into the negative basically from day one. Its going to take quite a while for this big institutional money to come into play, good thing time is on Bitcoins side, it is only a matter of time.

In addition to Grayscale dumping bitcoin after the approval of the spot ETF for bitcoin, there is another bearish news coming from Asia. According to this article, South Korea, Singapore, Thailand and Taiwan made an unprecedented move to block ETFs from being traded in their jurisdictions.

How much yearly investments in total do these Asian countries bring to the ETF market in America?



For all the excitement greeting the approval of Bitcoin ETFs this month, there was one group that was underwhelmed by the breakthrough offerings — Asian regulators.

No sooner had exchange traded funds from Fidelity, Ark Invest, and BlackRock’s iShares unit hit the market in early January than finance watchdogs in South Korea, Singapore, and Thailand warned brokerages not to let their clients invest in the overseas offerings.

Moreover, Taiwanese regulators said that indices tracked by ETFs must comprise “securities,” which doesn’t include Bitcoin under the island nation’s rules.

Blocking funds cleared by the US Securities and Exchange Commission surprised market players. Asia is the fastest growing ETF market in the world, and usually regulators wave funds through with little fuss.

“Outright bans of US-approved ETFs are basically unprecedented,” said Jason Titman, the COO of Swyftx, an Australian crypto exchange. “It’s a bold move by these jurisdictions and it’s difficult to unpick the logic.”

Source https://www.dlnews.com/articles/regulation/south-korea-singapore-and-thailand-block-bitcoin-etfs/

The price might be dumping after ETF approval but we also have some good news about uncle Gary hehehe. We can find some time for laughing and being entertained from all these news updates while waiting for the inflows to return on the market hehe.

If something similar occured on Wall Street and the traditional finance markets, I reckon the government would be making louder demands for the impeachment of uncle Gary.



Securities and Exchange Commission (SEC) Chair Gary Gensler is facing bipartisan political backlash after the agency’s social media account was hacked last week and falsely claimed it had approved several highly anticipated bitcoin investment funds.

While the SEC ultimately approved the exchange-traded funds (ETFs) holding bitcoin about 24 hours later, the high-profile blunder for the agency puts Gensler in a tough spot as an already unpopular figure in the cryptocurrency world and among Republican lawmakers.

And some Democrats who have been generally pleased with Gensler are joining calls for investigations.
“Mainly, it was embarrassing for the SEC,” Ian Katz, managing director at research consultancy Capital Alpha Partners, told The Hill.

“It’s given ammunition to Gensler’s enemies and his opponents and people in Congress who don’t like him to begin with,” he added.

Source https://thehill.com/business/4411825-sec-gensler-face-bipartisan-backlash-over-x-account-hack/

But that is what we need now , the next step is to   buy more and accumulate as much as we  can so there is no way we missed the Bull effect of ETF.

just don't get too  eager because time will come and investors or those Big institutions will make their way as now they are being allowed to own big chunks of bitcoins.

Think far with Bitcoin halving next three months and think farther with possible QEs from FED.

CME FED watch tool.

Most of analysts predict that FED will make QEs around and after September 2024. When FED releases new QEs, money will be abundant and people will have more money to invest again. There will be no other more attractive market for them to spend money than Cryptocurrency market. Those companies with approved Bitcoin Spot ETFs will contribute to hype the market. They want profit, they have to contribute to bring more people to spend money in this market.

Well, yes, but in theory. I mean it is expected to let people know about bitcoin, but not to increase its value if people buy shares of the ETF.

Imagine the ETF provider A, who owns 1,000,000 (1M) bitcoins and they provide 1,000,000,000 (1B) shares to the customers.

So we have 1B shares of 0.001 BTC each.

Theoretically, they are not allowed to trade the underlying asset of the shares that belong to customers. They are allowed, however to sell Bitcoin that is not sold (in the form of shares to customers), or buy more bitcoin and create more shares.

So, the actual trades, that would lead bitcoin's price higher (or lower) depend on them.

Bitcoin ETF was expected to partially tackle the No. 1 problem by increasing adoption; the more demand, the higher the price increase. We've reached the point where no one needs to knock on the door of the next-door neighbor to introduce them to Bitcoin; we're meant to be at the point where people come to Bitcoin. As a community, I believe we are not raising enough awareness to solve the case of number 1.

Price down= Panic sell. ( Buy high , Sell Low). My crappy rules. 

How can it be at the $30k mark if the mining price, after halving, will be $36k? I believe we might see Bitcoin surpassing the $30k threshold if something significant occurs again with top crypto markets, such as Binance.

ETF are not a problem for me but for people who are afraid of the wallstret of rich people who can create negative news and positive FUD. which makes novice investors who lack knowledge panic sell altcoins, I agree with you but not everyone has the same material determination as those of us who already know the crypto timeline by heart

Your expected bearish view is very valid and I expected such too. The market is weighing the fact that Bitcoin is overpriced with the ETF saga, it wants to make the adequate retracement before halving time, or at least any possible encouraging events that would move the price upwards. But the $30,000 psychological level that you called is way too low if I must say. I do not think that Bitcoin will ever see this level this year, and possibly next year because if it escapes it this year, the market will be at a higher level at the end of the year and this will make sure that even in 2025, it will be difficult for the coin to fall significantly to the point that it will hit $30,000 again.

Nothing is impossible in the market though but I will urge us to be much more careful and resort to our trading chart daily so that it will continue to put us through the possible outcome of a present bearish pattern of Bitcoin. However, technically on the preliminary Fibo analysis, I think that the 1D Fibo support level of $40,243 (38.2% Fibo) is the next decider on what will happen. Many will call it $40,000 as the two levels are close, and I am sure that the market will make a good fight at the level. Perhaps it will win the bear and start moving up, time will tell on that. Even if it didn't win the bears, enough support levels are still present at lover levels to discourage too much falling that can make Bitcoin hit $30,000.

the great thing about bitcoin..
price up = more profit for coins you have
price down = more discount to accumulate more coin

I was also surprised to see some forum members expressing disappointment about bitcoin's price drop in recent days. Because they are people who have been participating in the market for a long time and they are even one of the people who always urge people to buy bitcoin every time the price drops.

I wouldn't call this the best time or good price to buy because the price has increased quite a bit compared to many months ago. But that's not too bad a price for we can DCA and hold until bitcoin makes a new ATH.

This is considered a normal reactions for the market price and it won't be that serious because we have already happened to experience such a scenario in the past when the crypto market had some problems, it won't be forever and there will come a time when it will recover and gain much more price in the future based on its past history. While others are in a panic about selling their bitcoins, others are actually celebrating because finally they get a chance to buy low and sell it high in the future or for those investors who want to buy it low and hold it for the long term, this is one of the right time to do that while the price was still low and not so expensive when bull runs come this year.

From my own point of view, since the bitcoin ETF approval have been achieved,we are more likely to experience more dip even than we are having now, you may not be surprised at seing that the market fall dip down to $30,000 which doesn't mean anything to fear about but we can only see that as an opener to know that the bull had already happened right before the bitcoin ETF approval was announced, but the more we are getting closer to halving also is the tendencies for the major bullrun to occur, which is most likely to start after halving.

The most important thing is that the Bitcoin ETF has been approved, we just have to wait for the reaction of the people who created panic for themselves and the institutions behind the ETF bought according to their plan from the start, namely releasing negative news to the public so they could buy at a discount. Some people are selling their Bitcoin out of panic, in my opinion for the Hodler out there, don't sacrifice Bitcoin for the ETF moment and stay focused on the Halving which has been our tradition for so long. Bearish markets have become commonplace, so there is no longer any need to rely on the impact of ETFs. Gradually the large companies that enter will show their existence in the market during the halving.

It's been mentioned many times already but in general we need:

1. demand increase, more people get interested in bitcoin
2. supply decrease, therefore more difficult to find bitcoin

(2) is guarranteed to happen by the network rules
(1) is what we can focus on, introducing new people to bitcoin

There is no need to overcomplicate things, trying to read patterns, technical analysis etc.

Fundamentally speaking, (1) & (2) will lead to price increase.

I was not expecting any significant upgrend effects of the bitcoin ETF approval mostly in the short term, and for that the ETF approval is bearly a week in approval and for aude the event that happens after then in the Bitcoin market may have really been opposites of what many Bitcoin speculators have expected since many expected the price of Bitcoin to swiftly move up and not the current 42k+ BTC price we have right now, but then I know this is going to change most especially in the next few months when the halves cycle finally occurs.
By then, it will be two events pilling up and pushing the price to speed up in the long run, so for now, let's expect less and wait for the right timing and opportunity for the market realities, sure we are going to be seeing Bitcoin at least seating above the 50k region in this first quarter of the year before a main Bitcoin ATH.

What will happen next is that we have to keep waiting until the price reverses direction and starts to rise. After that, you can wait until your target selling price is reached to sell the bitcoin. It's okay if the price of bitcoin is still low now. There is nothing to worry about, let alone panic because the price continues to decline. It's an opportunity to buy more bitcoin before the price increases. Don't let us regret being late in buying more bitcoin.

Expectations about prices going up after SEC approval remain, and we are waiting for the time to come. Meanwhile, we can continue collecting bitcoins as we have been doing. Moreover, price increases do not happen immediately. But it also takes time.

Of course, people who have a lot of money preparing to buy Bitcoin will be at the bottom. The time that has happened will happen again, when Bitcoin approaches the halving, there will be a significant decline that won't last long. and the target price at which they hope to buy bitcoin hold long term

This is a great opportunity for everyone who believes in the future of Bitcoin with a continuing price decline. The moment of a sharp price decline will certainly be taken advantage of by some people, especially those who have large capital.  It could be that the decline in the price of Bitcoin was carried out by a group of people or a community working together to be able to get more Bitcoin at a low price