It is true that many people bought more bitcoins because they heard the news about ETF, so many people placed high expectations on this ETF and if it is not approved, I see the price dropping below $30,000, but after April the price will start recovering, this is because historically whenever there is a Bitcoin halving in the following months the price rises a lot, sometimes as it approaches the day of the halving the price has recovered, only to increase a lot after the halving, which is why even if the ETF does not is approved and the price drops a lot, yet in the coming months we will see a large price increase.
This issue about the bitcoin ETF is starting to reach a very scary level in terms of predictions and thanks to this the price has fallen a lot and then recovered, for example what happened a few days ago when a certain company said they would not approve the ETF and this caused the price to fall from $45,700 to $40,700 in a few hours, and the price only recovered when the same company went public with its retraction. But the damage caused by the press has already been done. Today I read this news:
‘Rumor mill’ goes into overdrive for a spot Bitcoin ETF approval on FridaySeveral tweets on Crypto X have fueled hopes that a spot Bitcoin ETF could be approved on Friday, though some analysts don’t think it will happen so soon.
Speculation that the SEC is set to approve a spot Bitcoin
exchange-traded fund (ETF) on Friday has reached a fever pitch on social media.
A tweet from Grayscale’s legal chief that he was “just filling out some forms,” in addition to a widely shared tweet from a reporter, has fueled speculation that approval could come through within the next day.
Several analysts still expect potential approvals to come next week, however.
In a Jan. 4 post on X (formerly Twitter), TechCrunch reporter Jacquelyn Melinek cited sources “extremely close to the matter” to suggest multiple ETFs would be approved and is “expecting something tomorrow.”
source:
https://cointelegraph.com/news/rumor-mill-heats-hopes-spot-bitcoin-etf-approval-tomorrowevery person is trying to predict whether or not it will be approved and this is also because these analysts want to gain more attention. but when you look at the chart:
It's a sign of what's to be expected if a Bitcoin ETF isn't approved
Your explanation is very nice, I also think that the same thing could happen if things get out of control and they cannot approve the bitcoin ETF by January 10, everything remains a constant observation, speculation and what we can say and Because the event can be very delicate, if they see that the price is starting to go down, they will buy, only the smarter ones will buy, but this can trigger a lot of distrust in some of the investors who have Bitcoin, but in what They are small investors, but if they approve it that will be very good for the price things will be seen differently, what I can expect is that I am not going to sell, I will remain in hodl mode and that's it.
If this does not happen, the recovery of this ETF must be kept Calm and do not allow yourself to despair over things, there are always ways to wait for everything to go well, just calm, patience because the Price will Rise Anyway , You just have to think that the halving will happen very soon and that is very good for the Price.
