It sems to me that we currently wait for the ETF @ 11/3 (13/3) and till that date people will keep on buying (I do that).
A few days before you may see the price go back down again, because people (me too) will start selling off in small batches.
A few days before you may see the price go back down again, because people (me too) will start selling off in small batches.
I think the 11th is the final day to take a decision on your gamble. Do you want to sell or do you want to hold? you must be quick and decide.
But don't forget that insider trading is possible, so we may see big pockets taking decisions before we do, which means we are fucked if we are on the wrong side
It is not yet clear what current price spike has to do to with ETF approval and how much
It kinda looks like folks are searching for a plausible explanation behind the current rally, and the ETF question comes in handy, though I don't think it has much to do with the prices today. I guess no one seriously expects the ETF proposal to be actually approved. I remember when the price had been surging before the July halving but that event was carved in stone, so the hype was quite justified. The bottom line is that if the Bitcoin ETF doesn't get approved, we shouldn't really expect the price to fall dramatically. On the other hand, if it does get approved against all odds, that might give a tremendous boost to prices (in the future)
Opinion on approving ETF are divided some think its good other that is bad and it should not be approved. Many speculate that this will be downfall and to be honest i dont have opinion on this, will it be good or bad, Im more for let remain as it is for now.
For price change it might be with the fact that in China they again hold withdrawal for users. Dunno what they are doing but this is becoming really pain for users there. Read even that they are so scared that price will go down with this ETF approval that they want to cash out and invest after this
I'm really curious why some may consider this ETF as bad or even evil
In fact, I didn't meet such an opinion myself. Typically, people are quite positive toward Bitcoin ETF, and there is no lack in explaining why it is so, e.g. it will lead to price rise since many new people (and likely big institutional investors) may get interested in Bitcoin via this ETF. But I can't even come up with a single valid argument as to why it could be bad. People may indeed lose their money in the end if Bitcoin eventually crashes but that's market after all, and no one is guaranteed from losses (they can lose their hard-earned dough elsewhere)
