Massive rise on bitcoin price, Is this a bullish Sign or ETF hype? - page 2.

BitcoinPanther

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Quote from: Wysi on November 03, 2023, 03:36:57 AM

Over the past two weeks we all witnessed a massive spike on btc price around 10k$ pump which I never expected though I feel this could be a trap from whales in the crypto Industry.

I also think that the current surge of Bitcoin is a bull trap. If we follow the trend and news, there is actually no reason for Bitcoin to go up except for that ETF approval fake news. I have a feeling that someone is trying to manipulate the sentiment of the market by publishing fake information and using the Bitcoin movement to bring hype to ETF's possible approval.

Quote from: Wysi on November 03, 2023, 03:36:57 AM

On the other Hand The market is still waiting for the U.S. Securities and Exchange Commission to give the green light to spot bitcoin ETFs, If the SEC delays or shows red signal to this ETF then I think there could be a massive drop as the market is always run according to the fundamental situation. Guys share your thought which can be expected?

Not only that, the Bitcoin history shows that the halving happens in a bearish market since it is one of the major catalysts for the bear market to transition into a bullish market. I believe everything that surge these past days will eventually turned into a trap when manipulators intend to cash out before the halving and the actual Bull market begin. So I guess we might experience another Bitcoin dump before the bull market season begin. ( I hope I am wrong on this)

GreatArkansas

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For me, it's really the Bitcoin bock halving. Take a look at the past bitcoin block halving, you will see how the price is starting to rise.
But since ETF deadlines are also fast approaching which is almost the same as with Bitcoin block halving, it's more likely ETFs also have some interest here.

Just take a look for example when there is fake news about ETF being approved, Bitcoin price just pumped and after few moment it went back immediately. It means, the ETF is really most awaited for everyone.

poodle63

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Quote from: bittraffic on November 03, 2023, 12:40:30 PM

I could also say this is an ETF hype but because the halving is also very near investors are looking forward to this bull market. The ETF definitely has convinced my investors and I think we are also going there because of the Blackrock confirming they want their iBTC approved.

And given that people need to hedge because of the rising inflation, they will really come buying for more. The coming halving makes the bullish sign, its just months away, someone says we'll get to that block by April.

so many people are thinking of investing right now, the market seem to be about to become bullish because everyone eager to invest knowing the halving and ETF, its overall changing from few months ago where the market looking grim which definitely is a good sign in my opinion.
regardless though the bullish season we still don't know whether it will truly be arriving or not, what I know though is that usually when bullish about to come the market sentiment is changing for the better.
and it seems the market sentiment right now is just developing into that direction we will see in few weeks whether the market still good like this.

Bushdark

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Quote from: Wysi on November 03, 2023, 03:36:57 AM

Over the past two weeks we all witnessed a massive spike on btc price around 10k$ pump which I never expected though I feel this could be a trap from whales in the crypto Industry. On the other Hand The market is still waiting for the U.S. Securities and Exchange Commission to give the green light to spot bitcoin ETFs, If the SEC delays or shows red signal to this ETF then I think there could be a massive drop as the market is always run according to the fundamental situation. Guys share your thought which can be expected?

We had been expecting a bull market for a while now and if this would be the beginning that I think it's going to make a lit of sense for those of us that have some huge holdings of Bitcoin in their portfolios. We mihht not know what could have been the reasons for this but all we have to do is to keep accumulating Bitcoin so that we can gain more from the market when the price of Bitcoin finally skyrocket. There had been speculations that the bull market is going to commence by next year, maybe this is just the beginning of everything we are expecting.

bittraffic

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I could also say this is an ETF hype but because the halving is also very near investors are looking forward to this bull market. The ETF definitely has convinced my investors and I think we are also going there because of the Blackrock confirming they want their iBTC approved.

And given that people need to hedge because of the rising inflation, they will really come buying for more. The coming halving makes the bullish sign, its just months away, someone says we'll get to that block by April.

Publictalk792

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There can be a trap by whales but I think whales will also hold tight now till ETF approval and they will get a huge profit but delaying more of ETF approvals can weak the Bitcoin pump and Bitcoin price can drop significantly and this will take a major liquidation in market. So be careful. If you are a spot trader so hold tight the Bitcoin and it will give a good profit to you.

cryptoaddictchie

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Quote from: Spaceman1000$ on November 03, 2023, 10:45:56 AM

Ordinarily if the SEC approve the bitcoin spot ETF, it will spiked the price of bitcoin, also there will be drop in price if SEC decline the approval. Most of us are analysing the market and are still hopeful about the approval, a lot are still holding on for the halving that it's been predicted.

Well fundamentals really matter isnt it. Imagine if the news of approval pump it, well the declined might also drop it. Simple as that, it works the PnD on the market excluded the technical analaysis the traders analyzed. So watching from the new might really help the potentisl market flow in your advantage.

jrrsparkles

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Quote from: Wysi on November 03, 2023, 03:36:57 AM

Over the past two weeks we all witnessed a massive spike on btc price around 10k$ pump which I never expected though I feel this could be a trap from whales in the crypto Industry. On the other Hand The market is still waiting for the U.S. Securities and Exchange Commission to give the green light to spot bitcoin ETFs, If the SEC delays or shows red signal to this ETF then I think there could be a massive drop as the market is always run according to the fundamental situation. Guys share your thought which can be expected?

Certainly, the approval of ETF news fueled this price hike, and as expected it's short-lived so probably we may see the correction phase in the market for a while.

As of recently event SEC rejected all the applications for spot ETF so I guess the red days are ahead for sure.

batang_bitcoin

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Quote from: Wysi on November 03, 2023, 03:36:57 AM

Over the past two weeks we all witnessed a massive spike on btc price around 10k$ pump which I never expected though I feel this could be a trap from whales in the crypto Industry.

We can't think of everyone of what these pumps indicates. But IMO, this is just the start since everyone is expecting that this is like just the beginning close to the halving. But if you feel that this is a trap, it's fine because it's unusual or should I say that you're not just used to the movements like those.

Quote from: Wysi on November 03, 2023, 03:36:57 AM

On the other Hand The market is still waiting for the U.S. Securities and Exchange Commission to give the green light to spot bitcoin ETFs, If the SEC delays or shows red signal to this ETF then I think there could be a massive drop as the market is always run according to the fundamental situation. Guys share your thought which can be expected?

Prior to halving, yeah there can be some drops. But eventually, the recovery is there and I believe that the presence of halving is stronger than the rejection of ETFs.

Spaceman1000$

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Quote from: Wysi on November 03, 2023, 03:36:57 AM

Over the past two weeks we all witnessed a massive spike on btc price around 10k$ pump which I never expected though I feel this could be a trap from whales in the crypto Industry. On the other Hand The market is still waiting for the U.S. Securities and Exchange Commission to give the green light to spot bitcoin ETFs, If the SEC delays or shows red signal to this ETF then I think there could be a massive drop as the market is always run according to the fundamental situation. Guys share your thought which can be expected?

Ordinarily if the SEC approve the bitcoin spot ETF, it will spiked the price of bitcoin, also there will be drop in price if SEC decline the approval. Most of us are analysing the market and are still hopeful about the approval, a lot are still holding on for the halving that it's been predicted. But then the bitcoin spot ETF has been pending for while, the other time we heard a news broke out about the approval, it later turned out to be fake.

johnsaributua

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Etf has a big impact on the industry and makes a bubble price increase even with fake news some time ago the fact can go up around $2000, currently it has jumped at the price of $35000 enthusiasm for ETH is quite a lot, how many alternative options with the current trading style by utilizing ETFs, which I realize that ETFs like me do not have decimal units of bitcoin in private wallets, but it is quite treated with the same analysis, moreover, profits can be adjusted more with bitcoin ETFs, if asked important, yes of course sir, this is part of the exploration and investment with the price of bitcoin in general, if you look at the bullish period it could also happen considering that bitcoin will welcome another moment every month including next year's halving, I think bitcoin will recover above $ 40. 000, if the etf is delayed for SEC approval I assume it will still be around $30,000/bitcoin.

gabbie2010

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Quote from: Wysi on November 03, 2023, 03:36:57 AM

Over the past two weeks we all witnessed a massive spike on btc price around 10k$ pump which I never expected though I feel this could be a trap from whales in the crypto Industry. On the other Hand The market is still waiting for the U.S. Securities and Exchange Commission to give the green light to spot bitcoin ETFs, If the SEC delays or shows red signal to this ETF then I think there could be a massive drop as the market is always run according to the fundamental situation. Guys share your thought which can be expected?

I don't think this is a kind of trap by the whales the recent positive fundamental surrounding Bitcoin had made the sudden surge in it price, of course any news related to ETF would have a an instant impact on it price regardless of whether is real or fake because it price would always react to any fundamental news, likewise the anticipated halving of Bitcoin next year is also another indices that was responsible for the recent pump, as it is now I don't think the price of Bitcoin would experience any dump, the price would only experience minor pullback or retracement as it gradually enters bullish sentiment by now investors who invested in last year September when the price was around $16K had made some reasonable profits now and anticipating more profits.

fzkto

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Now a lot of people are saying that the bull season has started, which could last a few years, but I don't think it's time for that yet. It will probably happen after the halving, although I'm not sure about that. But I think it's just hype right now and we'll see more fall.

Fundamentals Of

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Mostly spot ETF hype I guess. We can remember that there were applications for Bitcoin spot ETF coming from large financial institutions like BlackRock, VanEck, Franklin Templeton, ARK Invest, WisdomTree, Fidelity, and others. This was already bullish in a way. And then there was fake news spreading that BlackRock's Bitcoin spot ETF application was approved by the SEC. It caused a quick rise. Then it was followed by the listing of BlackRock's IBTC on DTCC. It again caused further rise in the price. All these events which pushed the price up are related to Bitcoin spot ETF.

kentrolla

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Especially with the note we started this year somewhere between $15k and $16k, there were a lot of fuds and all those who used to comment like "bitcoin to moon" started posting articles like "bitcoin is a bubble", even that time I defended Bitcoin and said it wouldn't sustain a decade if it was a bubble like some of the NFT tokens and shit coins. Indeed it has been a good comback and I hope it continues at same pace and achieve new ATH. The best part about Bitcoin is that once it starts pumping all the other altcoin hodlings get converted to Bitcoin but one thing I am unable to understand yet is the fact that how come altcoins are having bullrun sort of price movement which Bitcoin has not going in direction of new ATH as the price is sort of struck around $35k because usually bitcoin bullrun triggers altcoin bull run.

I don't think there would be any long-lasting negative impact it would have on Bitcoin even if SEC shows red flag to Bitcoin as it has crossed $30k even in the past without any support from SEC so we can ot narrow down ETF as the only reason for this pump I don't understand it has a role but not entirely. Bitcoin will prosper like it always does regardless of SEC's take on ETF.

bluebit25

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Quote from: Wysi on November 03, 2023, 03:36:57 AM

Over the past two weeks we all witnessed a massive spike on btc price around 10k$ pump which I never expected though I feel this could be a trap from whales in the crypto Industry. On the other Hand The market is still waiting for the U.S. Securities and Exchange Commission to give the green light to spot bitcoin ETFs, If the SEC delays or shows red signal to this ETF then I think there could be a massive drop as the market is always run according to the fundamental situation. Guys share your thought which can be expected?

Well, the analysis is different, and even before that, when Bitcoin was at $25000, everyone thought it would soon decrease, and now that it has increased to about $34000, people are expecting a different price. Although I also like the price increase, I am not here to observe the constant fluctuations of bitcoin. There are a number of reasons why I am more cautious at the current stage, when news easily creates large fluctuations. I remember in the previous cycle when bitcoin increased to $ 13000 after a long time in the bear market, everyone thought that it changed to bullrun status and then the price fell to about $ 4000. Maybe the current context is very different from the past. There are many, but I still have some personal opinions that there will be sharp declines in the near future.

nelson4lov

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A little over 2 weeks ago, Cointelegraph made a fake ETF announcement that moved the price of $25k to $30k briefly before a pullback that led to another high on the top side of $35K. Imo, the recent move can be attributed to that Cointelegraph tweet — at least now, everyone knew what would happen in the event of such development and starting buying in anticipation. Also, the halving is coming soon in T-minus 6 months and anything else right is nothing compared to what's coming.

Wakhid Mukti

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Bitcoin is currently in a bullish phase, but recently there has been a slight decline, if the $34,300 level is broken there would be a potential drop to the $30k - $26k range. I am sure that ETF news has played a big role in BTC price movements in recent weeks. If the Bitcoin ETF is still rejected or experiences a decision delay, I think BTC will experience a decline and go sideways.

Husires

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ON-CHAIN analysis on the series shows that there are attempts to take profits, which makes the price try to reach the $40,000 psychological level, but the continuation of the upward trend is what will achieve this, but it is not linked to the ETF, otherwise there would have been a continuation of pumping the price after $31,400, which would have easily brought us to 52,000.

What is happening now is that the price was lower than its value, so breaking the support level led speculators to consider it an opportunity to speculate on the rise and that it is time to take profits.

It does not indicate or will indicate acceptance or rejection of the ETF.

LL_LuxLait

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In my opinion, it is both. On the one hand because of the ETF hype, but on the other hand also because more and more people are becoming aware of Bitcoin and are realising that our economy is at the end and our monetary system is not working. We can see a giant rise of the price. Maybe this year or beginning next year

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