Topic: Bitcoin ETF Approval; Price dumps, what Next? - page 5. (Read 813 times)

I have been waiting for a topic like this, i know some people have already started moaning that BTC has not started pumping, so many people believed that the moment spot etf's were approved in the u.s. market, we were going to go on a bull run immediately, but take note that things happen in an organic way in the BTC network, it is not like in altcoins were things just happen only based on hype and everything is gone after the hype.

People should wait for months at least, before moaning that the price has not risen, the BTC halving has also not happened, so some patience is very necessary and if you can, buy more BTC's.

There are a couple of things I believe that are currently causing the decrease in the price of Bitcoin, and one is selling the news event, secondly from the technical analysis side point of view, we just hit a major resistant level at 48k because the price has already gone way oversold on the daily and even on the weekly time frame, so really need to cool off a bit, and I'm not surprised seeing the price correcting, and this is even another opportunity to dip into the market because we will definitely get a bounce after the correction, Lastly, I think some investors have started pulling some funds out of Bitcoin and are Buying Ethereum because of possible Ethereum spot ETF approval on the line.

We are too daft to think Gary Gensler Bitcoin ETF is the beginning of bitcoin penetration into institutional investors that some people are already calling for ETH ETF, wow!

Well, I was just reading some news on Cointelegraph that vanguard will not list Bitcoin sport ETF and some investors are trying to ditch them, not long after that when I saw Gary Gensler saying they(as SEC) didn't endorse bitcoin in anyway and even as people see it as a store of value, they (as SEC) see Bitcoin as illicit weapon from facilitating bad things, I was mad for a minute then I realized that he just disclosed his real person. Why are we going to trust government agency to endorse bitcoin? That nitwit will never like Bitcoin all his days in office and I'm not sure if ETH will ever get that chance for approval.

Hmm, TBH I was expecting such scenario because the ETF news was already cashed now Its ETH's FOMO turn you can see people are rushing into ETH but sticking to BTC, I can expect a very decent correction which we haven't seen until now and from there we can expect a higher journey fo the BTC, also think from this sie, institutes are not interested in buying so high already.

A decent correction will make it more clear, where we are driving and I'm really interested to buy back with the amount I've chased out. In the end of day BTC is not have legal recognization.

What now? What to do now is to treat the market like the spot bitcoin ETF never got into the market and the market is just on its own awaiting the halving and the subsequent bull run that will come after it. The fake news of ETF approval was just a game well played and they’ve gotten what they wanted. The news was released in order to get to buy bitcoin at a lower price so that when finally approved they’ll sell at an higher price. After the approval there was no much change in the market and it only tested the $48K level and went back and create a new resistance far below the $48 level. This is totally a game but it didn’t go well as planned. Let’s just treat the market as if nothing happened and wait for the real bull run that will happen in the market after the halving.


This was where many people got it wronged and had a wrong assumption of the spot bitcoin ETF, I also thought the same because of the hype surrounding it and the two times fake news that was released on its approval. The market immediately reacted to those news before adjusting back. So the approval was expected to make bitcoin price go up. All I have always have in mind was that; the news will affect the price of bitcoin undoubtedly but it won’t be for a long term because investors will like to take their profit immediately they’ve achieved it and will cause bitcoin to dump back after that. The former news that was released on bitcoin spot ETF approval before this year made a lot of traders to lose their money, they will be ready for this and will love to take revenge on that, maybe they already got what they wanted, hence the drop in the price now.

Who led you to believe that?! I was under the impression it would likely be a "buy the rumour sell the news" type event, one based on continued upside based on the "rumour" followed by an immediate dump after the announcement and launch, which is exactly what happened. I'm surprised if anyone is shocked by the current result of these ETF launches. Wall St are not Bitcoiners, they are not going to just FOMO into an ETF.

There's also a huge difference between "price can increase dramatically" with increased amount of liquidity/investment into Bitcoin via ETFs, and ETFs pumping the price overnight to $100K. The ETF will only be "good" or "useful" after the halving, once price has stabilised and there are strong fundamental reasons for a new bull market - as per - "every bull market starts after the halving".

I feel strongly this is just some people taking profits early after the news. People pumped and dumped a tad. The price of BTC isn't going anywhere but up in the longterm. Big picture!

i don't know why people should be disappointed when the price of bitcoin fell by 5% in the last 24 hours, do they think that the bitcoin etf will push bitcoin to its ath? would they have thought millions of people would immediately invest in bitcoin when the bitcoin etf launched? i don't think so since it's just a regular etf, why should people hype something that will only benefit those investment companies. moreover, the future of bitcoin is not only in the bitcoin etf, in the future the value of bitcoin will be even greater with or without bitcoin etf.

Maybe you and other moon boys expected bitcoin to go straight to $100k milestone, but no one rational enough expected anything of that sorts. Everyone knew that ETF approval is right around the corner so it was probably already priced in, therefore no big pump happened. That doesn't of course mean that its not a good news and that it won't affect bitcoin price, just that you shoulnd't hype yourself so much.


I don't know about you, but I will continue business as usual and that is slowly acquiring more BTC and not caring about the current price.

When I read the post at first, I actually didn't believe it at first. It's wonderful that the SEC has finally changed its position, even though just a few days ago a statement like this appeared online and turned out to be a hoax. They approved 11 ETFs, which is also impressive because I thought it would be just one at first. Still, it seems that they just did it because of being under a lot of pressure, but the SEC is still cautious about cryptos as investment. The price experienced a sharp rise up to over $48k on January 11, but that was followed by a drop, and then another one. Maybe it's just an overcorrection for the initial rise.

the timing of the approval is done deliberately. it's the time when the daily chart and weekly chart are where it says the market is about to dump. SEC knows that if anyone buys at such a time where it's overbought then those investors will be investing at the wrong time. i think it's about to plunge to $38k.

there are only a few that are approved though. SEC failed to approve GBTC and iBTC of BlackRock.

Around the Bitcoin ETF, there was a pump-dump scenario due to some dramas. But after it got approved officially bitcoin started to pump. Now dumped a little bit and running sideways.

I think the dump happened due to Vanguard blocked their client from buying Bitcoin.



source: https://www.coindesk.com/business/2024/01/11/investment-giant-vanguard-blocks-clients-from-buying-bitcoin-etfs/

The ETF approval is not something that will last for one month and all agreements would be reversed. If it was a month or weeks something, the FOMO will have effects in the market. I think this development is permanent, which will make changes in the market to be somewhat slow. We shouldn't also forget that manipulators are in the market who are ready to show people signs of disappointment in order for them to forgo their spots. These institutional traders will like to buy BTC at the cheaper rate, it is therefore expected that they will shake off the weaker hands.

My projection is that before June, bitcoin price will be somewhere at $60k. The effect of ETF approval will be felt more during the bull run. I  see the present market condition as an opportunity to enter the market for those who has not taken nice position in the market. Cheers everyone, better days are ahead.

Some analyst said Day1 inflow trade will hit $4b but only $1b was witnessed , we didn't even get half of what was analysed. I think the Sec deleting the announcement from it page also contributed to a major set back.

Selling at loss, wasn't the ETF me at to triple the current price? All hype and nothing in reality.

The price almost touched $49k as the ETF got approved and so we cannot really say that the price is low.
The volatility is high and may others mentioned there's a lot of manipulation going on right now.
Another thing is that as the ETF is approved the price of bitcoin is bound to increase but over a long term.
It will take a few months to see the larger impact of ETF approval on bitcoin.
Next is halving and so the price will pump harder. Just wait until the end of the year.

The next is Bitcoin will pump.

I think right now other people are really excited with Bitcoin ETFs, but after it's already approved, they start to sell their coins. Right now, it's quite stable and this might be the price correction. After all we're looking for long term and next year Bitcoin will reach new ATH.

They Look Like a Bunch of Low volume Bitcoin Forks. LOL   
I would rather buy Few satoshis of actual bitcoin than these clowns.


Bitcoin price is not low. it just didn't increase like everyone predicted about it. obviously, everyone was unnecessarily hyping ETF. so everyone thought that once ETF got the approval, Bitcoin Price would skyrocket. which didn't happen.
also the previous hack of SEC account also reduced the effect in my opinion.

People forget that ETFs add volatility and that just as they can drive the price up faster, they can also drive it down.


Yes, I also believe that the positive impact will be felt in the medium and long term, along with halving. But I would have expected a clearer upside with the approval, followed by a downside to catch minnows, surely the approval was already discounted by the market.

Low?  There have only been a few times in 2021 and 2022 where the price has been higher than it is now.  It's higher now that it was through the whole of 2023, 2020, 2019, etc.

You moonboys make me chuckle.  Got all your hopes up over nothing because you have no patience.

I think the price correction will be similar to normal but ETF is good for the future of bitcoin and the crypto market as well. It's a significant step towards changing the perception and familiarity of bitcoin. We cannot expect strong pumping including subsequent reactions. In the long term, the value of bitcoin will remain optimistic.