What is just happened on the Bitcoin Market? - page 5.

Richbased

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Quote from: Oshosondy on January 03, 2024, 07:55:25 AM

What I read on the news is related to spot bitcoin ETF and also about how it is believed that if United States SEC prolonging it, that the approval might not be in Q1 of 2024. While an analyst also said if SEC do not approve it on time that it might be rejected. Probably this caused the market to react and people sold some coins.

I have almost same perception with you because I believe lots of people were inquisitive on selling their coin as soon as the price skyrocket to $45,000 i believe that was the reason for the dip but however ,our interest should be on spot bitcoin ETF being approved as that's the only way that Bitcoin will gain recognition by standard authority and there's gonna be an increase in it's adoption and thereby will lead to a big pump of Bitcoin as against other cryptocurrencies in the bull market.

Ziskinberg

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Quote from: Oshosondy on January 03, 2024, 07:55:25 AM

What I read on the news is related to spot bitcoin ETF and also about how it is believed that if United States SEC prolonging it, that the approval might not be in Q1 of 2024. While an analyst also said if SEC do not approve it on time that it might be rejected. Probably this caused the market to react and people sold some coins.

Yes. The said approval might not be possible this month, so it’s like it could happen at the year end, or it might be spot bitcoin ETF approval might be denied. When that happens, it’s predicted that bitcoin price might probably experience 20% price decline and may touch bitcoin price around $36k to $38k. Well, the price decline is a lot expected by us, but we all know this won’t last for months or year.

However, instead of seeing it negatively, I think the upcoming price decline if ever it will happen will open new opportunity for newcomers to buy and invest in bitcoin. That way, when bitcoin price starts to recover, they can ride already with the price surging and skyrocketing afterwards.

GreatArkansas

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I can say that the reason is the panic of people about these articles about saying Bitcoin ETF approvals will be possible this January.
Since it is still not true, for me, the run will continue until it is proven, that this dump of what happened is only an advertisement for this run.

AirtelBuzz

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Quote from: Shishir99 on January 03, 2024, 07:46:17 AM

Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?

When I was watching the market this morning, the price of Bitcoin was around $46,000, but when I checked the market this afternoon, I saw that the price of Bitcoin had dropped to around $41,000. But now it has increased to more than $42,000 thousand dollars.

This is the reason for the dump.

X

Oshosondy

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What I read on the news is related to spot bitcoin ETF and also about how it is believed that if United States SEC prolonging it, that the approval might not be in Q1 of 2024. While an analyst also said if SEC do not approve it on time that it might be rejected. Probably this caused the market to react and people sold some coins.

Hazink

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I don't think it was in this forum; maybe it was somewhere else, but I said yesterday that this price we are seeing is just temporary. I don't see bitcoin reaching that $45k that early in 2024; it was a surprise move, which can happen.

Many people were looking at the market move as if the bull run had already begun, and some already predicted the next jump to be $48,000 to $50,000 before the end of the week, but now the price is dipping, which is not a surprise to me. Before the end of the day, we might even see it at $39,000 or below, but that's also going to be temporary as it will take a revert, but in a gradual process this time.

AHOYBRAUSE

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Quote from: Shishir99 on January 03, 2024, 07:46:17 AM

Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?

Yeah hard to say. I also googles right after the drop happened but first I didn't really find anything.
Then I saw there have have been some twitter posts of some influential people spreading fear of ETF rejection and so on.

It was all good and then within minutes this 10% drop.
But we all are used to it, that's nothing new to the crypto community.
Whatever pushes or pulls the price is always a mystery for me, as usual.

Shishir99

hero member

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Bitcoin was around $45K to $45.5K for the whole day, but it started going down for the last two hours. Bitcoin just touched $40.7K, and now it's around $42K again. I was trying to figure out what had just happened. Bitcoin lost $3K in two hours and alts are now bleeding. There are several negative news just popped up and some of them are

* SEC will REJECT Bitcoin Spot ETFs Again Says Matrixport Report
* Miners Unload BTC to Exchanges
* Matrixport Predicts Bitcoin Price Dip To $36k Amid SEC’s Potential Rejection Of BTC Spot ETF

Which one could be reason of such movement?

Topic: What is just happened on the Bitcoin Market? - page 5. (Read 572 times)