Topic: Bitcoin ETF Approval; Price dumps, what Next? - page 6. (Read 813 times)

What now? Surely price will correct heavily since many seasonal trader just purchased due to the expectation that Bitcoin will pump once ETF approved. The price pump but not as high as expected so slowly this seasonal trader will take profit and probably just wait for another re-entry for the Bitcoin Halving event pump.

SEC kinda kill the hype after the fake news Bitcoin approval on their social media while Bitcoin ETF was supposed to be approved on the other day. I believe Bitcoin should reach 50K area if there’s no epic fake announcement.

First observation from the past 24 hours is that public sentiments were wrong about pump. Second observation is that there are more to this than meets the eyes. It is like the proverbial, the more you look, the less you see. Looking closing we we'd see that the whales are playing a game with the price and that is why the price is looking as if it is stable when it is all over, then we would see the price pump. As a retail investor, it is okay to be disappointed but this will not last too long. Be patient.

Are you disappointed? As for me, although I also expected bitcoin to increase strongly, but I was not too disappointed when things did not go as expected because I knew bitcoin was very unpredictable. We should accept what is happening and plan next instead of continuing to be disappointed just because the bitcoin price did not increase in the short term as we expected. In terms of predicting what happens next, I still believe bitcoin will reach $50k before entering a major pullback.

The simple explanation is that the market is heavily manipulated, hence the outcome of the ETF approval which fell below the expectations of many of us. A simple way out is to play long term, because after the manipulations comes the real surge.

If you want to join the whales in this manipulation, you might get burnt. Those who actually started preparing for this ETF early last year are comfortable in good profits and many of them are already liquidating.

There are a lot of liquidation going on by people with long positions that were hoping for a good outcome of the SEC approval of the Bitcoin ETFs.

The Bitcoin markets also priced in an increase in the price, before the actual event happens as we see with the "Halving" event. People buy more in the hype buildup before the actual event happens.

The actual impact on the price will be experienced over a longer period, as investors "test" the water with this new investment option.

many were expecting the social drama media frenzy triggered FOMO pump

however their are many levels at play

firstly the bitcoin spot market is artificially being held under a $47k resistance wall this week
most of this is caused by FUTURES contracts. as soon as they conclude and participants win. those participants will stop using their separate stash on the spot markets to keep the price artificially below the $47k

you can recognise the signs
first of all. bitcoins trading usually is not so stable in a free un-manipulated market..
secondly you can see on the ETH-USD that eth is staying 98% within range of a btc1:17eth
by seeing eth peg 98% to bitcoin at 17 eth to 1 btc..
it shows many trades are happening on bitcoin to dollar, then dollar to eth, then eth to btc (to keep price below $47k)
it shows many trades are happening on bitcoin to eth, then eth to dollar, then dollar to btc (to keep price above $46k)

if things were truly "free market" "independent"
ether-bitcoin would not be pegging at a 98% where ether shadow traces bitcoins price wiggles at a 1:17 rate

if things were truly "free market" "independent"
ethereums price(different community of utility and sentiment) would chart completely different wiggles to bitcoin market movements

so by seeing the arbitraging going on. shows whales wants to keep prices within a certain range
...
they want to play the futures markets and win bets on bitcoin price to multiply(futures leverage) more coin to then put into baskets to then play around on ETF

all the shrimp and fish that bet(futures leverage) bitcoin would FOMO pump this week will lose. meaning the whales controlling the resistance of spot market will win the losers coin+more


just wait until these contracts end and you will see the resistance walls collapse and a bit of natural freemarket movement where people will be buying actual bitcoin. and .. well back into another session of contracts at the next level

if you zoom out of the market charts enough you will start to see a 'step stone' effect of
            ,~~^~~
~~v~~'

Dear Indeed, Approval of ETF is the biggest achievement for the Crypto Industry and we know that thing never works according to our hopes because there are big entities before all that "big money" who have that much power to manipulate the market sentiments. But I assure you that in the coming some months we will see good changes in the crypto market but before that, we will see a kind of correction before halving events. Manipulation of the market is a preplanned agenda but the market will surely go up after some time. Give it time you will see good movements in the market.

You also know that how dramatic the system is as we know that some days ago there was a drama by the SEC that their Twitter handle was compromised by hackers which I think that was a part of their plan and for now you also thinking about why we are not seeing good pumps in the market even ETF has been approved because as i aforementioned in this industry everything work according with plans. So dear, just wait and watch we will see good things as well.

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?

Day 1. Trading volume as reported on multiple meanstrem.