Without ETFs I had been expecting this cycle's peak price to be $120k to $140k, but with now with ETFs I could see it potentially being more like $140k to $160k.
Currently, most of the institutions like black rock and others are buying bitcoin through the OTC market and therefore we do not see a sharp rise in the prices. As per the analyst, the OTC market can not fulfil the requirement of these ETFs and sooner they will have tp buy bitcoin from the open market. We all know that the quantity of Bitcoin on exchanges is way too low to meet the demand of these institutions.
So after the halving, in the next bull market, we will not only see the price hike due to the bitcoin 4-year's bull cycle but also the true picture of ETF will also unfold at the same time, making bitcoin price beyond any imagination.
If there were not Bitcoin ETF, we might thought 120-150K would have been the bitcoin bull market top but now since we have ETFs approved, it's really hard to tell how hign Bitcoin may reach.
Also, I think the bear market will be less severe and brutal this time as those people who buy bitcoin through ETF, there vision is for the long term and they are not going to sell anytime soon.
Im not really that too optimistic about getting into those higher value or price of Bitcoin on this upcoming bull run. We should really be at least wary that they wont really be buying always on which there would really be coming into the time that they would really be selling their bags and since we do know that they are owning tons of coins then they could really just dump into our faces. This is one of the things that i do see
about the negative about these ETF approval or simply getting involved with institutional funds on which that they could really be able to take advantage on what this market have.
Im not saying that they cant put up that kind of increase in the market but i do always have those doubts that dumping hard could really happen but well it is really that early to draw up some
conclusions but it cant really be just that be avoided not to think about those probabilities on which they would really be doing that on the time that they do see
that it is really that already ripe for them to harvest profits.