Bitcoin ETF Approval; Price dumps, what Next? - page 3.

kentrolla

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Quote from: davis196 on January 14, 2024, 02:27:23 AM

I think that the 2017/2018 situation on the Bitcoin/crypto markets might be repeating.
Back in 2017, everyone was expecting the launch of Bitcoin futures trading, which built up the hype and pumped the BTC price to 20K.
After BTC futures trading was launched, the price dropped and we saw a bearish market during the entire 2018. I understand that BTC futures trading wasn't the main factor for the 2018 bearish market, but it was a significant enough factor to cause the price to drop.
I don't know if this is going to repeat in the same way. The real bull market might occur in 2025, several months after the Bitcoin halving(and after the big central banks begin lowering the interest rates).
We should be ready for several bearish months in 2024.

I have observed the same thing as you have seen in the past and seems like the same market trend is repeating, but we should consider this I mean those bearish months as an opportunity to accumulate as much Bitcoin as possible. I am afraid their might be some panic selling since everyone is expecting a bull run this year. but we might see it only in 2025 Bitcoin veterans already knows about it and don't bother to panic.

davis196

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I think that the 2017/2018 situation on the Bitcoin/crypto markets might be repeating.
Back in 2017, everyone was expecting the launch of Bitcoin futures trading, which built up the hype and pumped the BTC price to 20K.
After BTC futures trading was launched, the price dropped and we saw a bearish market during the entire 2018. I understand that BTC futures trading wasn't the main factor for the 2018 bearish market, but it was a significant enough factor to cause the price to drop.
I don't know if this is going to repeat in the same way. The real bull market might occur in 2025, several months after the Bitcoin halving(and after the big central banks begin lowering the interest rates).
We should be ready for several bearish months in 2024.

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Quote from: irsykes on January 14, 2024, 12:49:46 AM

The ETF effect has been approved and has been targeted for a long time to dump Bitcoin significantly with news hoaxes of drastic increases in altcoins, we are just waiting for Bitcoin's final correction before the halving or after. and we will see a better market in the next year that is even bigger Wall Street businesses could have control

Yes, this is only a temporary condition due to yesterday's euphoria after the ETF was approved and I admit that it is very complicated to predict the price of Bitcoin correctly in the future, but I am personally optimistic that in the long term, BTC will be able to give birth to new enthusiasm, even though at first glance mass adoption is currently seen as still not enough to encourage Bitcoin. Indeed, technically it is still bullish and a profit-taking moment is also needed to earn more money to accumulate potential coins or tokens.

BitcoinsGreat

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Quote from: borovichok on January 13, 2024, 06:13:58 PM

Great development now what next to increase Bitcoin adoption? And why are Vanguard and Bank of America refusing customer access to Spot Bitcoin ETF? Are they bigger then the Govemment now? This is terrible.

If those banks are not encouraging the Bitcoin ETF , people have options to still invest in bitcoin ETF, don't they?
These banks will eventually lose their popularity if they make policies that are not liked by the general public.

Regarding the bitcoin price dump after ETF approval, better wait for the markets to reopen on Monday and you will find increase in demand for bitcoins

irsykes

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Quote from: Jegileman on January 13, 2024, 09:47:17 AM

Quote from: borovichok on January 12, 2024, 05:52:27 AM

As the title suggests, we have all been waiting for this period for a long time, and it has finally here, yet the price of BTC remains low despite the high spot ETF Bitcoin trading volume. We were led to expect that the price would increase upon SEC approval, but the contrary is now happening. What now?

We wait for the bull run to come, the one that will have nothing to do with news like this that triggers the market prices. Since bitcoin is dumping after the approval of the spot bitcoin ETF, I see it as a good opportunity to buy more bitcoin and keep in our portfolios. The bitcoin halving and the bull run are also fast approaching, we should try and maximize the opportunity of every dip in the market now. I just feel the bitcoin ETF saga is not yet ended, but before we see a massive change in the market again, let’s try and bag more bitcoin into our portfolios.

The ETF effect has been approved and has been targeted for a long time to dump Bitcoin significantly with news hoaxes of drastic increases in altcoins, we are just waiting for Bitcoin's final correction before the halving or after. and we will see a better market in the next year that is even bigger Wall Street businesses could have control

wallet4bitcoin

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Quote from: Iranus on January 12, 2024, 11:15:36 PM

Quote from: wallet4bitcoin on January 12, 2024, 06:39:01 PM

I am still in awe as to why the price of Bitcoin is testing new lows in the last 6 weeks. I expected the approval of Bitcoin Spot ETF to be a game changer and for Big players in the financial institution to take the lead and give us a fullscale bullrun, but it seems as if I was only expecting the reverse of what I thought.

What could really be happening?

Why do you awe when the price drops? Do you awe every time the price increases? What you expect about ETFs doesn't mean it will happen as you expect. We have no formula or evidence that when ETF is approved, 100% of the bitcoin price will increase. If everything becomes so easy to predict, who will lose in this game? In investing, we need to combine many factors to evaluate what will happen next, not just rely on news.

I don't know why so many people were disappointed when bitcoin price plummeted while people always said they wanted to buy cheap bitcoin, and now bitcoin price is falling, why are people disappointed?

The approval of BTC ETF was suppose to give incoming institutional investors a degree of confidence in channelling their resources towards the space (my thoughts anyways).

The new lows were actually triggered by news from financial institutions not jumping in on the investment class yet until they do their due diligence at least. So, my awe was spot on.

BTC_Dragon

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I have strong faith BTC will continue to climb over the big picture.

When in doubt, zoom out.

TimeTeller

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Quote from: BitcoinsGreat on January 13, 2024, 06:43:11 AM

Quote from: oktana on January 12, 2024, 05:40:20 PM

This is a very good example of what expectations can do to you. It is a message to those who have tied their head around a mandatory bull run when the halving occurs. Like I’ve said, just invest in Bitcoin if you really want to, leave your funds and the bull run will come. Creating expectations with timeframes can be really disappointing because Bitcoin isn’t following our minds or wishes, it’s moving at its own pace. Tomorrow could be a dump, it could be a pump too.

The ETF approval was never such an event where you would have experienced of pump after the news has been announced. Rather the price has been on the upper trends during the last two to three months and it was in the anticipation of the ETF approval and that is how the market works. The market we see pumps before the actual event happened and this is not the first time we had experiencing this behaviour.

Of course, such event is a very positive one in this market. It creates good vibes and so it can be reflected on the market itself.
Been years in the making, this ETF is quite a magnet to a lot of crypto spectators and investors.
As the adoption is growing and so is the demand of this currency. Consider its fixed supply and you will understand such positive feeling of these people.

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Quote from: EFS on January 13, 2024, 04:03:23 PM

It's a success in the long run. Bitcoin is now recognized by everyone and used everywhere. It's come a long way in 15 years.
If you ask what we are waiting for after the ETF, we are very close to the halving. It's enough to examine past halving times to predict what will happen next.

Great development now what next to increase Bitcoin adoption? And why are Vanguard and Bank of America refusing customer access to Spot Bitcoin ETF? Are they bigger then the Govemment now? This is terrible.

The new Bitcoin ETF commercial guys

https://twitter.com/BTC_Archive/status/1746176672527728810?t=n5ckZ-w5Wn8SYj-I_Hn7dg&s=19

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Quote from: BitcoinsGreat on January 13, 2024, 06:43:11 AM

Quote from: oktana on January 12, 2024, 05:40:20 PM

This is a very good example of what expectations can do to you. It is a message to those who have tied their head around a mandatory bull run when the halving occurs. Like I’ve said, just invest in Bitcoin if you really want to, leave your funds and the bull run will come. Creating expectations with timeframes can be really disappointing because Bitcoin isn’t following our minds or wishes, it’s moving at its own pace. Tomorrow could be a dump, it could be a pump too.

The ETF approval was never such an event where you would have experienced of pump after the news has been announced. Rather the price has been on the upper trends during the last two to three months and it was in the anticipation of the ETF approval and that is how the market works. The market we see pumps before the actual event happened and this is not the first time we had experiencing this behaviour.

I assume! But that wasn’t the case. Many people were screaming ETF to the top of their voices like the price magically flys up (even when the value was already 40k and upwards). Bitcoin took a decade + to get to where it is today, so it’s not magic. At the time of posting this, Bitcoin has gone back down to $43k (even went lower earlier). And you’re saying the market is up because the ETF was already bringing hype from months ago, but I don’t absolutely agree with that. I know it definitely contributed but it’s not all on the ETF. And the market doesn’t only pump before the event, if the event is a good one, it should have a continued positive impact too (like Bitcoin Halving)

EFS

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It's a success in the long run. Bitcoin is now recognized by everyone and used everywhere. It's come a long way in 15 years.
If you ask what we are waiting for after the ETF, we are very close to the halving. It's enough to examine past halving times to predict what will happen next.

MinoRaiola

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The ETF is here and that is a success for Bitcoin and the future acceptance in the world, or by the financial institutions. There was a Sell the News Event after the approval. But it should now be over and the Bitcoin price should move back in the direction of a new ATH. The next important event is the Halving in maybe 95 days, until then the price should rise, anything else would not be good for the miners. A new ATH before the halving is possible, I think that will take a few months longer, but it is possible this year. And I think we will also see a bitcoin pump and maybe some big news this year that will surprise us all.

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Quote from: Jegileman on January 13, 2024, 09:47:17 AM

Quote from: borovichok on January 12, 2024, 05:52:27 AM

As the title suggests, we have all been waiting for this period for a long time, and it has finally here, yet the price of BTC remains low despite the high spot ETF Bitcoin trading volume. We were led to expect that the price would increase upon SEC approval, but the contrary is now happening. What now?

We wait for the bull run to come, the one that will have nothing to do with news like this that triggers the market prices. Since bitcoin is dumping after the approval of the spot bitcoin ETF, I see it as a good opportunity to buy more bitcoin and keep in our portfolios. The bitcoin halving and the bull run are also fast approaching, we should try and maximize the opportunity of every dip in the market now. I just feel the bitcoin ETF saga is not yet ended, but before we see a massive change in the market again, let’s try and bag more bitcoin into our portfolios.

I believe that a lot of news simply warmed up the public and tried to make this the main event of the outgoing year. In fact, many like-minded people gathered in this topic who directly said that they did not expect a big rise, which in general happened, at the moment we have a correction that will be taken advantage of by those who are able to think several steps ahead.
I am also sure that we will hear about the ETF more than once, but for now the best position is to continue accumulating btc.

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Quote from: Fredomago on January 13, 2024, 06:29:06 AM

Quote from: Richbased on January 13, 2024, 12:54:35 AM

I believe the dip in price of Bitcoin is just as a result of some necessary corrections that is being done but regardless it's also an advantage to still buy more Bitcoin and hodl as the halving is almost near and the pump begins. A good investor will understand that now that the price is dipping is a great opportunity to re-enforce and acquire more in his portfolio as we await the bull market after the halving.

Supporters will always agree that the price correction is the best time to collect more, we can't predict the next market run as accurate as it may be, but if you believe that there's pump that will take place, you will buy more while you still have that chance. It's the usual sentiment when market is dipping there are holders who will fall and will quickly dump their assets to avoid bigger damage with their funds.

Unknowingly what will be the next good thing to happen, they will missed the opportunity and become the victims of those big whales who knows how to shake the market.

That is right, if you are dealing with something like that, then you are going to end up with a good result without a doubt. I get that it is going to be tough, but you need to make sure that you are doing the right thing, it helps you grow and be better. I get that it may not feel that great, but that's just how it is and should be looked at.

I personally hope for the best as much as I can, and look to do better on the long run as well. I am not saying it should be great, but it will not be too bad neither. With this correction, we are going to probably get one of the last times before we take off, the bull is coming because halving is coming and we are going to end up with a greater result, so we should take advantage of this.

Jegileman

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Quote from: borovichok on January 12, 2024, 05:52:27 AM

As the title suggests, we have all been waiting for this period for a long time, and it has finally here, yet the price of BTC remains low despite the high spot ETF Bitcoin trading volume. We were led to expect that the price would increase upon SEC approval, but the contrary is now happening. What now?

We wait for the bull run to come, the one that will have nothing to do with news like this that triggers the market prices. Since bitcoin is dumping after the approval of the spot bitcoin ETF, I see it as a good opportunity to buy more bitcoin and keep in our portfolios. The bitcoin halving and the bull run are also fast approaching, we should try and maximize the opportunity of every dip in the market now. I just feel the bitcoin ETF saga is not yet ended, but before we see a massive change in the market again, let’s try and bag more bitcoin into our portfolios.

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Quote from: wallet4bitcoin on January 12, 2024, 07:56:05 PM

Quote from: DooMAD on January 12, 2024, 07:01:19 PM

Quote from: wallet4bitcoin on January 12, 2024, 06:39:01 PM

What could really be happening?

People don't understand the market as well as they like to pretend they do. Someone ran their mouth claiming "moon", people believed it, jumped on the hype train, but none of them knew anything about anything and they're now disappointed. I doubt there's any more to it than that.

Literally, you are implying that we have not achieved an obvious bullrun by simply getting ETF approval.

That's because an "obvious bullrun" hasn't been achieved by getting an ETF approved?! At least based on current price action since ETF launch, price has only dumped with high volume.

DooMAD is accurate with the analysis provided. Too many people expected a "moonshot" to new ATHs after the ETFs launched, but instead price dumped and it became a "buy the rumour sell the news event", that enough people had been predicting and anticipating for months now, since the hype began once price broke above $30K. Personally, I'd also be surprised to see any other result here than what happened.

Unfortunately too many speculated that the market was in a full-blown bull run, with new ATHs incoming, whereas in fact, it's currently achieved a full-blown dead cat bounce. Above $48.5K I'll happily change my opinion of that fact, but until then, price/market has simply done what was expected of it - to retrace 61.8% of the the price from ATH to recent lows, just like in 2016 and 2019.

This is not unsurprising nor unexpected, but simply a routine at this point. The only question remaining is whether there is a severe correction or consolidation sideways imo.

hyudien

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Quote from: borovichok on January 12, 2024, 05:52:27 AM

As the title suggests, we have all been waiting for this period for a long time, and it has finally here, yet the price of BTC remains low despite the high spot ETF Bitcoin trading volume. We were led to expect that the price would increase upon SEC approval, but the contrary is now happening. What now?

This is just a matter of selling power and buying power so you can determine which one will have the highest volume after the ETF is approved. I also thought there would be a significant increase but in fact it was slightly beyond expectations. Maybe some people who hold Bitcoin already have a sales target but on the other hand until now we are waiting for the ETF big breakthrough, what impact it will bring and in which direction they want to take the Bitcoin price. How can it not be confusing when the most anticipated ETF approval does not have the impact we imagined. but we have to be a little patient, because everything requires a process that could surprise us when we wake up and see the price of Bitcoin. In my opinion bearish market sentiment is being put to good use, whether we realize it or not, this moment seems to support institutions buying at cheap prices.

BitcoinsGreat

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Quote from: oktana on January 12, 2024, 05:40:20 PM

This is a very good example of what expectations can do to you. It is a message to those who have tied their head around a mandatory bull run when the halving occurs. Like I’ve said, just invest in Bitcoin if you really want to, leave your funds and the bull run will come. Creating expectations with timeframes can be really disappointing because Bitcoin isn’t following our minds or wishes, it’s moving at its own pace. Tomorrow could be a dump, it could be a pump too.

The ETF approval was never such an event where you would have experienced of pump after the news has been announced. Rather the price has been on the upper trends during the last two to three months and it was in the anticipation of the ETF approval and that is how the market works. The market we see pumps before the actual event happened and this is not the first time we had experiencing this behaviour.

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Quote from: Richbased on January 13, 2024, 12:54:35 AM

I believe the dip in price of Bitcoin is just as a result of some necessary corrections that is being done but regardless it's also an advantage to still buy more Bitcoin and hodl as the halving is almost near and the pump begins. A good investor will understand that now that the price is dipping is a great opportunity to re-enforce and acquire more in his portfolio as we await the bull market after the halving.

Supporters will always agree that the price correction is the best time to collect more, we can't predict the next market run as accurate as it may be, but if you believe that there's pump that will take place, you will buy more while you still have that chance. It's the usual sentiment when market is dipping there are holders who will fall and will quickly dump their assets to avoid bigger damage with their funds.

Unknowingly what will be the next good thing to happen, they will missed the opportunity and become the victims of those big whales who knows how to shake the market.

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I will see there is nothing to worry about the prices of bitcoin. Bitcoin is running on it's own root. We don't need to get much hyper on it . But I think that bitcoin is giving as a chance to take the dip and trade. So I think we should stay cool and take the chances and invest for holding.

Topic: Bitcoin ETF Approval; Price dumps, what Next? - page 3. (Read 802 times)