The reason it dropped is because nobody expected it to drop. Everyone knew it would be approved and everyone was expecting a pump. Since everybody was expecting a pump obviously the opposite had to happen.
Sure many had the “sell the news” in the back of their minds but everyone thought that this time will be different. On my Twitter pretty much 90% of people are calling for new ATHs and something crazy like $1M per bitcoin like ARK fund.
Hence this is the reason why it dropped. We will see what happens tomorrow, as long as it doesn’t break $40K then we should be fine.
Topic: Isn't it exciting... - page 2. (Read 307 times)
Assume you're being sarcastic, but I'll bite.
LOL, but for who know the OP, this is the very voice of mockery?
I have had dialog with the op. He is simply bitter about poor choices.
Assume you're being sarcastic, but I'll bite.
LOL, but for who know the OP, this is the very voice of mockery?
Assume you're being sarcastic, but I'll bite.
Ah! Said sarcasm would have flown right over my dingleberry of a head were it not for that stealth link in the form of a question mark. I haven't read anything from Coindesk in a while, and it seems like they're writing for teenagers with next to no knowledge of finance/markets.I don't know about you all here, but even if the ETF thing was a "sell the news" situation, I think market sentiment is pretty bullish with a long-term view--so there might have been a dip after those ETFs got approved, but I have a feeling that there's still an upward trend underneath it all.
That said, bitcoin still has a long way to go before it reaches a new ATH. I'm not complaining about a valuation of $43k-ish by any means, but the previous ATH was well above that. Once again I kneel before the market gods and pray that bitcoin doesn't take off like a rocket and reach heights that it can't sustain. We all know that's happened a few times before.
Assume you're being sarcastic, but I'll bite. Personally, I lost my bullishness once the ETFs launched, followed by the confirmation dump and gravestone doji on the Weekly time frame that spells out a longer-term "downtrend", similar to 2019. Anyway, don't think I'm as bearish as you! Are you still waiting for $1,150, like you said will happen in December 2021, or have given up on that yet? No offence but you're TA looks like a failed prediction from 2017 that you're still holding onto, like many others who expected $1K when only $3K arrived. You could just accept that it was wrong and re-evaluate, like claiming this is the lower high that takes us down to $12K or something. Personally, I see a return to around $30K, as there is a lack of support between there and $50K, and worst case down to $20K, but have ruled out a return to $1K now ETFs have been launched 
Lmo I like the fact that Bitcoin was able to divulge all the hypes that come along with the US Bitcoin ETF approval, a situation that left almost all the speculators into switching from the recovery mood that we have been in since the beginning of 2023 to January 2024 when the bullish hypes rook over the market, but then after when the approval finally happens, Bitcoin price dumped to 42k which was a significant move which beat the expectations of everyone.But then we may expect some positive moves in the market when the halving finally passes and block size gets divided at some point which coupled with the ETF could be a significant force that could possibly push the price of Bitcoin upward.
Assume you're being sarcastic, but I'll bite. Personally I lost my bullishness once the ETFs launched, followed by the confirmation dump and gravestone doji on the Weekly time-frame that spells out longer-term "downtrend", similar to 2019. Anyway, don't think I'm as bearish as you! Are you still waiting for $1,150, like you said will happen in December 2021, or given up on that yet? No offence but you're TA looks like a failed prediction from 2017 that you're still holding onto, like many others who expected $1K when only $3K arrived. You could just accept that it was wrong and re-evaluate, like claiming this is the lower high that takes us down to $12K or something. Personally I see a return to around $30K, as there is a lack of support between there and $50K, and worst case down to $20K, but have ruled out a return to $1K now ETFs have been launched
This is the most bullish I have seen this place in a while. Not long until the ATH again eh!
What could possibly go wrong?
What could possibly go wrong?
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