Topic: Will another ETF be immediately bullish for Bitcoin? - page 5. (Read 851 times)

Should we believe that it was because of the incidence of bitcoin ETF that causes the sudden rise of bitcoin just as many had porported from their assumption, things can happen the way we never expected but I don't think there's a correlation between this experience to why bitcoin is experiencing a little surge, I've heard of some people saying it was because of BlackRock moves for spot bitcoin ETF and so on but the truth is that there's nothing to show in relating these occurrences together.

Most likely if there is word that it’s approved there will be a huge rally. Because since it’s a spot etf, it means that the issuer needs actual physical bitcoins, and these are scarse on exchanges pretty much in large quantities. So there will be a bubble of some sort but a mini bubble.

Then when it launches most likely it will peak like it did the prior 2 times and start to head down wards. Unless we think that this time it will be different.

I think it is most likely that once it is launched the price will go up, now in the mid and long term I am not clear if it can add volatility because just as a lot of money can come into the Bitcoin market in a derivative way, it can also go out.


Well, it doesn't have to happen that way this time, but we shouldn't be surprised if it does. That's why I am not sure if it's going to be bullish in the long run.

I predict that ETF, at least for a short time, can raise the price by bitcoin. The question is how long this will last. Whether this will be the beginning of a bullish trend is hard to say. If all factors converge, then ETF could be the catalyst for the next bullrun. It is not easy to predict, because this is a cryptomarket in which there are many players-BTC-buyers/sellers and it is impossible to predict the actions of everyone. There is more chaos than order, sequence and regularity. In one thing, I am sure that this event should not have a negative impact, because, after all, this is positive news.

Maybe this will be the last opportunity before the Halving is reached, so there is still a chance to get Bitcoin at a cheap price.
The current price is still stable above $30k and if the price corrects then the opportunity to buy again.

There is a possibility that the same pattern will repeat itself, but of course, there are changes in each pattern following the development of current prices and market conditions. Hoping that the new ATH will be reached in Halving 2024 and that is everyone's hope of course.

ETFs can impact bitcoin prices. The positive impact can be expected in the long term, but I also tend to doubt the impact in the short term. At least a price correction is still very likely to occur in July until the end of the year, but afterwards prices can be higher.

The good and bad effects of ETFs on prices in the past may be called fluke by some, but I believe the same pattern could repeat itself ahead of the 2024 bitcoin halving. I wouldn't worry too much about another big correction in the next 6 months, but it should be considered as an opportunity to collect more bitcoin.

I don't think there will be any significant change that it can cause on the Bitcoin price, even if there is, it won't be that much again. This is as a result of it being an old move, and the first one may have created positive news on the market that attracted enough investors to rush into the market, which was what just happened a few days ago.
 
Another ETF news might just sustain the market for the main time but won't create any further bullish move since there might be only a few people trying to enter the market again.
The first ETF news is still fresh.

I think that ETFs will be a positive effect on the price for many reasons. As banks see ETFs getting approved they will rush to purchase their own Bitcoin, as it will enable them to launch their own fund and collect fees. This will lead to a feedback loop of growing ETFs bringing higher BTC prices and thus generating more revenue for their fund managers. Scary, but it shows the potential for seemingly endless gains.

So I thought I'd try and gauge sentiment over how another Bitcoin ETF will affect price in the immediate term if approved, as well as offer my own personal opinion.

I understand it's considered bullish for Bitcoin long-term, but in the short-term, I'm not so convinced it will be good for price. As many of you may remember, when CME/CBOE launched futures trading for Bitcoin in December 2017 this was very much at the peak of the bull-run before a -83% correction in price. Then there was the Bakkt futures launch in September 2019 prior to a further price decline of -50%+. Finally there was the ProShares Bitcoin Strategy ETF that was (again) launched at the very peak of the bull market in November 2021 prior to a 75% price decline. Is anyone else noticing a pattern here???

I realise that previous futures launches are different than the current proposed ETFs, as far as I understand, but the facts remains the same. Each time a traditional form of investment product based on Bitcoin has been launched, price has corrected significantly, between 50% and 83% basically. What's as concerning is that price is currently at a resistance level which could now become a local peak...

Ideally any new product won't be launched until price reaches $40K to $50K levels at a minimum, so that a correction doesn't threaten recent lows. But otherwise I imagine it will be the same old story of "buy the rumour sell the news", with a potential long-term bullish effect on Bitcoin but only after a short-term negative effect that becomes the catalyst for a considerable correction in price.

Feel free to correct me if I'm wrong if there were Bitcoin Futures/ETF launches that didn't negatively effect price in the short-term, as based on my current knowledge, this has been the only outcome so far.

Let me know your thoughts in the comments. Do you really think another ETF launch would cause an immediate price increase, or is it more like to have an immediate negative effect on price?