Topic: Bitcoin ETF Approval; Price dumps, what Next? - page 2. (Read 802 times)

What happens next (for me, anyway) = DCA.

Friendly reminder that on this very day last year, we were floating around 21-22K. You're still up over 100% for the year. When in doubt, zoom out.

Those who were in Bitcoin's last bull market are certainly not too worried about the price of Bitcoin. Because they know that even if the price of Bitcoin falls, it will recover. But it is not worth investing in Bitcoin for those who are disappointed despite knowing this fact. We have recently seen Bitcoin ETFs are approved but the price is going down. It is not unusual for Bitcoin ETFs to undergo a slight price correction compared to the rise prior to approval. Although the market has a strong momentum now, many analysts are predicting that it will soon return to its previous position. Again many think that Bitcoin price can come between $35k to $40k but his is not a problem for Bitcoin holders.

If these fiat whales were able to manipulate the market when the ETF was approved, why would you ignore the scenario that they will continue to do the same with the upcoming halving event? If they can easily manipulate the market, they will take advantage of every opportunity to manipulate the market, there is no reason for them to ignore the halving event, a major event for bitcoin. I see the game becoming increasingly fierce with the participation of many traditional investment organizations jumping in. Things are gradually changing so we have to be more alert and careful.

It's a good sign in my opinion, the price going down means that it's giving us an opportunity to buy more and not think too much about all of this because at the end of the day, bitcoin will inevitably go back up and then go to the moon which it always does, I still don't get why people are so scared and panicky about bitcoin going down in prices when this has happened before and bitcoin reached an ATH.

That's how comfortable it is to be whales who can easily play a role in the market in and out of making profits, while we can only watch because we have Bitcoin handles and don't expect a big miracle to come suddenly after the ETF is approved the price will soar and make a profit. But whatever the situation and the turmoil of price  manipulation we as retailers are confused. Luckily we entered the Halving phase and didn't expect too much from this ETF whose impact was normal. I will stay focused on what the Bitcoin cycle has become regardless of whether  the ETF is having an impact or not the fact is that the whales are able to buy at whatever price they want.

Yes and some clients close their accounts and move elsewhere to show their disapprove of the bank's stance.
People don't like being told what they can buy with their money, so this is a lost war for the banks in the long run.


Only when you don't know what you're doing. Since we all know they will buy back to profit and the supply is limited... Be greedy and they'll liquidate you. Hold your bitcoin offline and they'll have to bid high to get it.

I also think a lot of people do not realize what are actually happening when "Bitcoin" are transferred over to a platform that are manipulated by Fiat whales. The traditional Fiat trading platforms are the playground of the super rich and they have the ability to manipulate markets with insider trading and also "circle jerk" information sharing that can be used to influence markets and even currencies. (Just Google on how Banks colluded to manipulate currency values)

These guys knew well in advance that these ETFs would be approved, they bought early and they are "selling" and making profits. They also know that there will be a "correction" phase and they will use those profits to buy low again and sell when it is high. Bitcoin has entered the regulated arena of the Fiat whales, where you get f#$ked by their centralized and controlled systems.  

It is difficult to predict the future, but we have to be optimistic and focus on finding out what conditions are happening so that our assets are under control. Bitcoin shows a correction back to 40k and below, who knows what price it will stop at, but this correction will be the last before the birth of a new ATH. the correction that occurs could possibly reach 30k

This is one of many occasions that the ETF has come close to being approved, but it never was. I assume so many people didn't believe this was going to work, and the market movement was very low because the Bitcoin community's faith was similarly low. I'm not one of those moonboys but yeah my hope was high on this one. We may start see rapid movement from the 4th quarter according to some analysis.

Not only many people on our forum, I see many investors also expressing disappointment that the approval of ETFs did not cause bitcoin prices to increase as much as they expected. To me, I think they are not really investors who have faith in bitcoin, they are more like speculators who want to get rich quickly. So they get frustrated and sell bitcoin when it doesn't rise as they expected.

I agree with you that the future of bitcoin does not completely depend on ETFs but I don't think ETFs are meaningless for bitcoin. I still believe it will have a positive impact on bitcoin, but things take time, we cannot expect them to have an immediate impact.

This is a familiar pattern. When the Bitcoin Future was approved a few years ago, everyone thought the price would go through the roof. The opposite was the case. The day after the future was approved, Bitcoin reached a temporary price peak and then entered a bear phase. I recognize the same pattern now with the ETF approval. A lot of money has flowed into Bitcoin since October, simply through speculation on the approval. This was already priced into the price, so to speak.

Is that it? I don’t think that miners actually go purchasing two times the equipments they had to earn what they used to earn before the halving. Why I don’t think it’s the case is that the computers we’re talking here is a lot. And they are really expensive. Idk but do they make that much that they double everything they are doing every 4 years? Even if some miners may struggle and get this done, most would remain the same and will eventually fall out because the rewards wouldn’t be so great as it used to be.

You did not really cover the side of miners.

Halving is coming. 2x equipment will be needed to acquire the same amount of BTC as before.

It would be logical for them to dump a little bit of BTC before halving to cover new equipment costs. As I see, it's already started.

My view is the majority of buy the rumours sell the news peeps are confused about what to do with the ETF news hence they result to selling their coins especially when the market rather than pumping to Mars is now dipping.
I believe the ETF aftermath will start showing weeks later, many people have not experienced btc ETF approval or know what it means so they would not know how to react either I guess.  

In the long run, this news will positively impact Bitcoin. Slowly, we are moving toward a grand-scale Bitcoin adoption.
Many were expecting that the price would skyrocket at the news of ETF approval; hence, they opened long positions; after the news, the price pumped slightly, and a steep drop afterwards liquidated millions. Overall, I think the BTC will follow the usual market trends. After halving, the price will start to pump. Vanguard is still not letting its clients buy Bitcoin ETFs, which is the main reason the price dipped, I think.

So, we have more ways of market manipulation from bankers and even don't have any profit from it. Nice

It's obvious that Vanguard has something to do with Elizabeth Warren, that evil queen that want Bitcoin to die, I believe they have failed all together.

The grand plan was to divert the attention to the Bitcoin ETF and drain the blood out of Bitcoin, they thought everyone would dump their Bitcoin and go ETF? It's never going to work, people will still choose to stay with Bitcoin while ETF exists.

Even if they all decide to abandon all approved ETF following what Vanguard just did, it won't make any difference, when a lot of people support something decentralized, the government will have to create a supernatural AI that will change the mind of all Bitcoin adopters to give up on Bitcoin, this is the only way I believe they can win.

I don't think the current situation is similar to the 2017/2018 period you are talking about. 2017 was the year bitcoin created a new ATH and almost certainly in 2018 we will enter bear season (4 year cycle). So I think the 2018 price drop has nothing to do with the launch of bitcoin futures. I mean whether bitcoin futures are launched or not, bear season will still happen in 2018.

Regarding the current situation, I am not surprised that the price of bitcoin did not increase, or even decrease sharply, after being approved by ETF. In my opinion, "buy rumors, sell news" is a warning that many people ignore. If we look closely, we can see that bitcoin was rising too much before the ETFs were approved, and looking at bitcoin's chart, it also clearly shows that a correction is inevitable. But because everyone ignored that, and blindly placed too much hope in the ETF, they felt disappointed when their expectations did not come true.

Sell the news, that is what happened. nothing more, nothing less. All the people who wanted to buy bitcoin in order to speculate about the ETFs approval already did it months ago, for sure they weren't waiting for the actual approval, so there were way more people interested in selling rather than buying. In the long run the price will go up again, don't worry.

Who led you to believing that the price of Bitcoin would increase upon ETF approval? Well, you better lead yourself next time, try to learn the market psychology, and how it reacts to situations like news, events, data, rumours, speculation, truth/lies, expectations and all that. What happens during the ETF saga is a matter of the market acting before the actual outcomes, the hype was too much and Bitcoin had already moved well upwards and adequately priced in due to the ETF saga. Now, when the ETF was actually approved, nothing more to be bought as most of those who would have committed their money because of ETF had done so because of the FOMO in the market, they had committed it before the approval due to the hype.

You may only see some of them now removing the money gradually due to FUD, but I still believe that Bitcoin will stabilise since the halving is much expected, so it will find its way to stabilise as most will not dump it yet by all means. I believe it will be stable above $35,000 for now and when another set of bullish movements comes into play when the current retracement stops, you might see Bitcoin above $70,000 within a few months. Let's all be optimistic about the bullish trend, but never believe that the ETF will cause some bullish movements as many had said. I had cautioned people about this in the past, I knew it would disappoint them as it is only the rejection that can cause significant bearish movements, and still, the market will always stabilize over time and move back upwards due to the much-expected bull run.