Massive rise on bitcoin price, Is this a bullish Sign or ETF hype?

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Quote from: The Cryptovator on November 04, 2023, 04:36:24 PM

We have seen the current market start pumping after ETF rumours. So we can say this pump is for an upcoming ETF, and if SEC delays again, we will see another dump. Upcoming Bitcoin halving and ETF approval together could move the market bullish. I don't see any other reason for the bull market lately. We need fresh and new buyers to see a real bull market.

We must for that then because it certainly happened even the SEC missed it knowing that after the pump/hyped, dumps come next.
Saying bullish now is totally uncertain, can't figure out that we are in such a situation already as we are too early when saying that even ETF has been approved, I still don't think the market went too high like a truly bullish one. The current pumps simply make us think it was just hype and it never stays long in that position.

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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?

Please don't call it massive when it is just 10-20% increase because it is overstatement but what I do believe
is that we have a good increase in the past weeks and still waiting now for more increase like 40k at least ? if we are not going to see more
increasing then the bad days will come because we are approaching december and that should be the last spike up as we have seen dropping
in December 25-31 and continues to drop till Next year.

Quote from: DeathAngel on November 07, 2023, 05:11:50 AM

It’s just a cyclical move as we are heading out of the bear market & into early bull territory. Lots of things are stacking up which will make people move to bitcoin. Like you said, spot etf’s are coming which will be huge. Also the halving is in Q2 of 2024. Things are about to become very good for bitcoin bag holders.

we are not heading out of the bear because we already out of Bull before the October month ends and now
we are week after November , so what we can call this as Continues growth and continues going to upwards or we will be dumping in the
next coming weeks.

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It’s just a cyclical move as we are heading out of the bear market & into early bull territory. Lots of things are stacking up which will make people move to bitcoin. Like you said, spot etf’s are coming which will be huge. Also the halving is in Q2 of 2024. Things are about to become very good for bitcoin bag holders.

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Quote from: GreatArkansas on November 03, 2023, 11:09:14 PM

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.

Agreed, Since most of them are eagerly waiting for the ETF approval there could be lot of changes in crypto sphere. Majority of the Investors are looking for the stability to avoid from massive losses that the primary motive behind the scene in my opinion. But remember onething if this goes well I mean If approved then all these bullrun and massive spike will have a full Stop.

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It's not easy to get the right rejection when it comes to Bitcoin and ETFs. Debate and evaluation must be arranged. It is important to consider your own offer and your financial situation. Even without the support of the SEC, the value of Bitcoin may continue to fluctuate. Specifically, Bitcoin blockchain technology uses the former technology to be secure and accessible and has an established market for it. Because of this, Bitcoin can prosper without the SEC being directly related to ETFs. ETF hype could be a sign that we will see a bullish market after 2024. This is only a possibility, but not certain, as market growth depends on various factors. But always do enough research regularly so that you can understand the ongoing growth of the former market and decide what to do next.

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Quote from: goaldigger on November 04, 2023, 11:51:47 AM

Quote from: GreatArkansas on November 03, 2023, 11:09:14 PM

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.

ETF might be the top reason for recent pump but of course in preparation for the halving, many are hyping Bitcoin already though we don’t know the exact reason for the pump but I think we are slowly getting into a bull trend. Don’t waste this opportunity to accumulate, it’s not too late yet and Bitcoin will rise higher, only time can tell and the candles slowly showing us the next trend in the coming Months.

It's hard to know in my opinion, because there is ETF and the halving is also approaching but maybe we can also say that both of them are responsible? People always say that the bulls are coming whenever they spot an increase but it's funny that the price will then pause lol. Maybe their enthusiasm are also like that. Paused for a while. One thing is for sure and that is we must do a continuous DCA.

This can come in handy in the future if not in a nearest time. Yeah it is not " too late " if we have a small expectation but we can say " it's not late " if we look at the bigger picture and see that BTC can achieve a million or more in value in the long future.

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Quote from: wheelz1200 on November 04, 2023, 04:50:10 PM

This we have one more sell off than we shoudk go sideways in the 30s for awhile. I think it's a little early to think we are in a full bull run. But who knows every run is a little bit different. Late in the calender year there usually is a sell off so I think in the next couple weeks it dips a little than slowly stabilizes and trades in the mid thirties next year.

bitcoin has broken through $35k i'm guessing it won't follow general trend of dipping around the end of the year, because we've been in bearish for too long already.
I personally would just DCA at this point, the market seems promising but maybe a bit too late to do DCA now but regardless i've accumulated quite the amount of bitcoin in my opinion that seeing the market ebcoming green is something pleasant.
i'd say we will see if the end of the year the market is getting better and better maybe next year we will see new all time high and the new all time high is not some measly amount its more than three times of the current value of bitcoin if im not mistaken definitely something i'd really like to see.

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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?

It can be either of the two.
TBH, there's a chance that the ETF hype might be a sign that we will be seeing a bullish market over the next months coming into 2024.

As for SEC accepting the spot Bitcoin ETF's, they can delay it until February of next year, a few months before the halving, and base on history, Bitcoin's price tend to go bullish a few months after the halving. If spot Bitcoin ETF will get accepted on February next year, we might even see Bitcoin going bullish a few months before the halving even started. On the other hand, what are the chances that Blackrock's application will get rejected? With their 500+ applications, only 1 get rejected, so the chances of this getting accepted is really high... or is it knowing that we have a CEO of SEC who is anti-crypto.

I'm leaning towards the fact that the hype around these ETF's will cause Bitcoin to rise. Last bull run it was ICO's, last 2021 it was NFT's. Is there a chance that ETF's are the catalyst that we're waiting for in order for the market to go bullish. Cheesy

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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?

There is a continuation of subsequent increases which may become even more intense over time. However, perhaps a little more market correction will be needed. If you look at it, this is actually starting to approach halving and is bullish, so maybe people are getting more enthusiastic about trading in the market. Likewise with the positive trends that have been increasingly circulating lately, coupled with some hype good news. These are of course interrelated and influence each other. However, on the other hand, we must continue to be alert to various possibilities in the future, to what extent the market might experience a correction if we carry out short term investments.

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This we have one more sell off than we shoudk go sideways in the 30s for awhile. I think it's a little early to think we are in a full bull run. But who knows every run is a little bit different. Late in the calender year there usually is a sell off so I think in the next couple weeks it dips a little than slowly stabilizes and trades in the mid thirties next year.

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Quote from: Sayeds56 on November 04, 2023, 12:36:05 PM

While, I am not a professional analyst of Bitcoin market but I do keep close eye crypto industry and its ongoing development. Based on my observation and understanding of market dynamics, the current surge in Bitcoin price is primarily driven by the anticipation of Bitcoin's Exchange trade-able Fund (ETF) approval. Furthermore, the decision to maintain the interest rate unchanged also contributed to the positive sentiment.

Since the year is about to end and we're still far of a few months ago for the anticipated halving. Yeah, the market is reacting now based on what we have and that is the likely approval of the ETFs that's been applied by the institutions. That's the driving force that makes everyone interested on it and once it gets a go and approval, we will see better surge.

Quote from: goaldigger on November 04, 2023, 11:51:47 AM

ETF might be the top reason for recent pump but of course in preparation for the halving, many are hyping Bitcoin already though we don’t know the exact reason for the pump but I think we are slowly getting into a bull trend. Don’t waste this opportunity to accumulate, it’s not too late yet and Bitcoin will rise higher, only time can tell and the candles slowly showing us the next trend in the coming Months.

The hype is coming from the institutions themselves and they are the ones that are pouring huge money into the market. While us, the small investors, we're just waiting for any further confirmations and we just go with the flow so there's no problem for us while we're waiting for the halving and as well as the confirmation and approval of the applied Bitcoin ETFs.

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We have seen the current market start pumping after ETF rumours. So we can say this pump is for an upcoming ETF, and if SEC delays again, we will see another dump. Upcoming Bitcoin halving and ETF approval together could move the market bullish. I don't see any other reason for the bull market lately. We need fresh and new buyers to see a real bull market.

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Quote from: goaldigger on November 04, 2023, 11:51:47 AM

Quote from: GreatArkansas on November 03, 2023, 11:09:14 PM

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.

ETF might be the top reason for recent pump but of course in preparation for the halving, many are hyping Bitcoin already though we don’t know the exact reason for the pump but I think we are slowly getting into a bull trend. Don’t waste this opportunity to accumulate, it’s not too late yet and Bitcoin will rise higher, only time can tell and the candles slowly showing us the next trend in the coming Months.

Bitcoin market pumped without any significant news can indicate only one thing that someone is trying to manipulate the market. Around 32k there was resistance, so as soon as a breakout happens investors jump into the market to take their long position. To be more confident the market pumped a little bit more without any news events and is still holding that position. So the previous resistance has become the support and those who were waiting for a sign of the momentum have joined. If this was caused by the bitcoin ETF news then bitcoin market rally makes sense but how will you explain the mini altseason we are having now? Many low cap altcoin projects made 2X to 3X over the last week and very soon all these tokens will be dumped and the money will again flow to bitcoin market to continue the rally towards 40K.

Don't be super excited now because historical data shows a bull run started followed by a major correction. So if history repeats itself, we will see one last major correction and the market is preparing for this. It's giving investors more confidence that the bad time is over so that they can put their money into liquidation if there is a correction.

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Quote from: Sayeds56 on November 04, 2023, 12:36:05 PM

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?

While, I am not a professional analyst of Bitcoin market but I do keep close eye crypto industry and its ongoing development. Based on my observation and understanding of market dynamics, the current surge in Bitcoin price is primarily driven by the anticipation of Bitcoin's Exchange trade-able Fund (ETF) approval. Furthermore, the decision to maintain the interest rate unchanged also contributed to the positive sentiment.

So many other people out there seems to think this sudden rise is due to the fact that the Bitcoin halving is merely close and the bullish season is just by the corner and so many other speculations about the sudden rise but to whatever reason that caused the rise , it was indeed beneficial to investor who probably sell during such rise and do wait again for the dip to come so they can restock their coins back.

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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?

While, I am not a professional analyst of Bitcoin market but I do keep close eye crypto industry and its ongoing development. Based on my observation and understanding of market dynamics, the current surge in Bitcoin price is primarily driven by the anticipation of Bitcoin's Exchange trade-able Fund (ETF) approval. Furthermore, the decision to maintain the interest rate unchanged also contributed to the positive sentiment.

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Quote from: GreatArkansas on November 03, 2023, 11:09:14 PM

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.

ETF might be the top reason for recent pump but of course in preparation for the halving, many are hyping Bitcoin already though we don’t know the exact reason for the pump but I think we are slowly getting into a bull trend. Don’t waste this opportunity to accumulate, it’s not too late yet and Bitcoin will rise higher, only time can tell and the candles slowly showing us the next trend in the coming Months.

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Quote from: Husires on November 03, 2023, 04:57:29 AM

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.

The major reason behind the increasing bitcoin worth is ETF news but another is also possible that large and large number of crypto users are becoming bitcoin holders so when more people buy bitcoin more increase will take place in Bitcoin's value. When there was news about Elon musk then price decline and touch reduced price of 26k$ so now the news altered and price of bitcoin also become altered.

The news about halving also can increase the value of bitcoin so it will not be false if we say that due to halving more people are accepting bitcoin so acceptance from more people will be favorable for holders of bitcoin. People trust on news easily so whatever the news are they will be effective for growth of bitcoin and we don't know about fake or true news.

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Quote from: Hypnosis00 on November 04, 2023, 06:21:59 AM

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?

That ETF has been influencing the mindset of the people, yet it just looks like a trap. Why? It is because the price of Bitcoin will move high without ETF but this rumor regarding its approval gain hyped turn the price of Bitcoin looks bullish. However, to early to think about knowing that and even recalling the previous ATH, it's started after halving and we're not done yet. Therefore, we can give the thumbs up saying it was bullish already but instead, we make ourselves ready for the possible price corrections.

The recent issue of cointelegraph about announcing a fake bitcoin etf showed us that the community is expecting so much in it which results to a bitcoin pump. Bitcoin ETF can be the catalyst in the future for us to get that bullish cycle we are waiting for. We have our minds that crypto has a cycle and bitcoin should be done on halving first before we can experience the long waited bitcoin bull run. I myself don't think that we will experience a full pledge bull market as early as this year given that I believe in the market cycle that I've experienced for years. I'm still waiting for a correction before we head to the bull market.

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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?

That ETF has been influencing the mindset of the people, yet it just looks like a trap. Why? It is because the price of Bitcoin will move high without ETF but this rumor regarding its approval gain hyped turn the price of Bitcoin looks bullish. However, to early to think about knowing that and even recalling the previous ATH, it's started after halving and we're not done yet. Therefore, we can give the thumbs up saying it was bullish already but instead, we make ourselves ready for the possible price corrections.

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Quote from: Husires on November 03, 2023, 04:57:29 AM

ON-CHAIN analysis on the series shows that there are attemptwills 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.

I see $40k as the level in which investors would want to distribute their money. Like you said, take profit. But if you go online, you would see a lot of big influencers making noise about BTC dump. For now, I have already set my smart trend strategy to get the best entry Cheesy

I'm looking at $45k as their distribution limit though

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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

Wysi

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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?

Topic: Massive rise on bitcoin price, Is this a bullish Sign or ETF hype? (Read 344 times)