Topic: Will it give fuel to skyroket for btc ? (Read 426 times)

That is true, I do agree that given enough time it will go up a lot, we are going to see that for sure, without a doubt. I think it is not going to be all that easy, but it will eventually happen one way or another. We just need to make sure that we are dealing with something that may take some time, it will gradually get better.

I personally hope that we are going to get something out of this, and usually that's not going to be all that simple, so we should consider what we can do with it. I think the best thing to do in this case would be just focusing on how we can keep holding, because if we can keep holding then I believe that BTC will skyrocket eventually, it all depends on the timing of it, and we need to be able to wait.

Future is unpredictable but if given enough time, why not? Especially for a coin like BTC that got what it takes of doing it. A slowly but surely move is okay but what if it moves faster? Isn't even much better? And it had more chance to hit its target.

You can't please everyone to be optimistic because not all are the same like you who already have a long experience on this market but if they are serious, they will also learn it. Indeed that if we want something good, we must also accept the negative side of it. It's normal and happens even on other aspects of life. Corrections are not a bad thing if one knows them already but we can use it as our advantage to perform better.

Price increases will occur gradually - they will not happen sporadically. You can't take off your shoes and run among the thorns - that will only get you pricked, meaning you should never ignore price volatility regardless of its highs and lows.

But with patience - you can build an investment portfolio and take advantage of volatility, this will make it possible for you to get greater returns. Accumulation is the recommended strategy - DCA is the advice, but you can also accumulate with other strategies. Currently the price of bitcoin has hit $53K - I'm looking forward to the $55K resistance being broken.

Sorry to say, a country like China that more populated lifted a ban and you think that won't actually affect bitcoin price? Let us do a little arithmetic; If a total bitcoin investors in China is 1,000 or 3,000 and they lifted the ban, this including both institutional investors and likely, the ban was lifted and this numbers of person required to purchase bitcoin don't you think there is every likelihood that the total number of investors those who wants to buy bitcoin will possibly purchase upto 100 btc to 1000BTC+ don't you think this is actually another push to the price? I am just giving reference coupled with the ETF So there is every possibility for price to soar.

I am not sure if that's the case or not, feels like there could be an explosion nevertheless. I mean we are talking about a nation with trillions, not saying all of it would go in, but even if few dozen billions find their way into bitcoin, legally, that would still be a huge thing.

We need to consider what can be done, and we are going to end up with a result that would be a lot more different. The increase will be huge and it should definitely be something to look for. I could be very well wrong too, I am not saying I am guaranteed right, but that doesn't mean that I am guaranteed wrong neither, we could very well have a situation where things could be different and that could very well be a good thing in the end, or at least I hope so.

If you had a balance in an exchanger and the daily account limits were $1,000, but they decided to increase it to $10,000 per day, this does not mean that you will be able to withdraw that amount daily. If Bitcoin was banned in China and the ban was lifted, it is positive news and will affect demand, but it will definitely not lead to an explosion. The price, unless there is a large demand for Bitcoin, is completely different from ETFs.

You are right, a very interesting combination between ETFs and the time of the halving, which complement each other for now when the halving period is being awaited. Clearly, this will also have an impact in the future, of course, from the influence of ETFs.
It's true, that this will increase demand and create a positive effect where prices will increase sharply. I think that after the halving period it will definitely not increase immediately, but I agree that it will happen gradually and needs a process for it to happen, certainly not instantaneously.
All investors have clearly prepared themselves to welcome an increase that will make profits for them. Optimism will be created by the upcoming increase, because Bitcoin will always have a waiting period and repetition.

Halving and ETF are a nice package to wrap up as fundamentals to consider over the long term. Both allow the demand for bitcoin to increase, making the price volatility higher, making you profit or lose. You can wait for prices to become more expensive after the halving, but of course this will not happen instantly - meaning you still have to be patient because the increase requires a process.

Many bitcoin holders are already preparing their investmen for returns - they are also preparing their portfolios. They buy a lot and accumulate - of course they do so because they really hope that ETFs and halvings can provide them with returns. Optimism exists among holders - a repetition of history in the 4 year cycle is expected, but do so at your own risk.

There is always a possibility that what you say is true, because now we are entering a halving period where usually there will be an increase either before or after. But it does not rule out the possibility that there is also an effect from the recognition of the ETF and the netting of so many bitcoins during the endorsement.
Bitcoin cannot be separated from the pace of any news that concerns itself, especially from information via social media.
But we are just grateful for the halving so that there is an increase which always occurs every 4 years. Hopefully this will also affect altcoins.

The news story thing boosting prices is hard to judge, alot of noise and unclear as to future or preexisting effect on the price.   Alot of news is retrospective, if there was some buying from it then thats in the price already.  I would refer to the graphs mostly as leading edge and good for questions of what if and what happens next.  Its far more like a real time feedback and gauge to mood in the price action so any prediction has at least half a chance I figure.   Today it dipped and recovered from losing the weekly average but be cautious now if it dont reach past 52880, we may need to gather some support from a pullback to 49k possibly.

ETF will surely have the impact in Bitcoin price today because of new money from the investors and we cannot just deny this fact. Halving might be the top reason but again, it’s not the only one since the market receives a lot of good news early this year. Bitcoin price will continue to grow as expected, congrats to those who bought at the bottom price of Bitcoin and still holding, you’re making good profit already.

what makes the price of bitcoin skyrocket is not about the ETF issue anyway in my opinion. but about this year bitcoin will carry out its 4-year celebration, namely halving. because with halving its mining production will be cut to 50 percent, it will cause the supply to decrease. when the supply is reduced but the demand is high, according to the law of supply and demand, the price will rise high.

Will definitely fuel but I don't believe it would be enough to skyrocket the market, I think that the biggest scenario that it can help fuel more towards the price skyrocket is when the scenario that involves bitcoin is going to be involving a lot of people like what happened in stimulus checks, lots of people have been using theirs to buy bitcoin back then, it has to be the same as that to really trigger something bigger and I don't think that banks being involved in crypto is going to be that one fuel we're thinking of.

Maybe what you are analyzing could be true. Indeed, the market is experiencing a small correction and, of course, that is what is expected, so that there will be no surprises that will actually damage the market, which is already starting to improve. I really hope that the movement that occurs because of the stagnation that I estimate is a normal movement that usually occurs. Of course, that is the hope that we want. I am always optimistic because the halving period is starting to approach and usually there will be movements that occur and, of course, it will provide the best. It looks like the movement will reach a renewable ATH, but maybe after the halving period or at least maybe at the end of this year., We will wait for the surprise that is expected to happen.

What makes you say that? As far as I understand, people are often afraid of getting engaged with Bitcoin or cryptocurrencies because of legal consequences if their countries have banned the usage of cryptocurrencies. So, if those countries lift those bans and announce that people are free to buy and hold and use Bitcoin and all other cryptocurrencies, I'm pretty sure that the adoption will increase and that means an increase in demand hence a price increase.

So, a price increase isn't just dependent on an investment that a company might make but if there is an increase in demand among the general public, and if they adopt Bitcoin and cryptocurrencies, that will also make the prices of cryptocurrencies go up significantly over time.

It is indeed quite possible for Bitcoin to surpass the previous ATH in the next price increase if it happens slowly as has happened this month when the Bitcoin price headed to over $50K. And for now everyone should think optimistically and never panic about small corrections that only occur temporarily, because people who are patient to see the next improvement will definitely not think that small corrections are a problem.

Experts also think that price corrections are a very normal thing in the market, especially when it comes to Bitcoin, which basically rarely runs in a stable price so that increases and decreases in Bitcoin prices are a normal part that everyone must understand. Because it would be very funny if even now, with so many price increases in Bitcoin that have been seen there are still people who complain and are pessimistic about small price corrections in the market.

I think you are too pessimistic about market prices which are experiencing a small correction after reaching the highest recovery since ATH was reached several years ago, market fluctuations will never be stable so every price will move every second but that is not the main guideline for market analysis, we see movements are still normal because it is normal for the market to experience a small correction or stall after the market has increased. So remain optimistic that the market will soon experience an increase in the next stage of the movement, according to many expert analyzes that the next movement will pass the previous ATH.

If, as you say, last month there was a decline, then now as we approach the halving period there will be an increase as soon as possible, but it doesn't seem to be appropriate to that situation. The movement at $51K-$52K continues, and there is no significant movement to break away from $52K it seems stuck. Will it be stuck at this price for long? or indeed, it will move again soon to reach $60K at the end of this month!!!Of course, we will wait for there to be movements that can have an influence on achieving a renewable ATH.

The impact of the market decline already occurred in January from a price of $48k which had fallen to 38k, but we saw a significant price recovery reaching $52k this week, so my assumption is that the price decline has occurred but the market decision is focused on recovery and an increase in price reaching ATH, maybe on the way to approaching the halvig there is a high potential that the price of bitcoin will be higher than our speculation, at least the price of 60k will soon be reached this month in the next significant upward movement, I can't wait to see the price will soon reach ATH.

The halving will occur in an estimated 62 days from now usually, what you say is correct  an upward trend will occur. But before the halving period occurred, of course, the current price was quite surprising at $52K and moved from $50K slowly, and there was always a downward movement. Some analysts say that before entering the halving period, there will be a correction first. If this is true, of course there will be a decline, but it doesn't change that after the halving period there will continue to be an increase. It is possible that the $100K that is expected to occur in 2021 will actually arrive at the end of this year, and then next year a renewable ATH will be created.

This year is the year of halving, of course there will be a bullish or uptrend. and the uptrend will last long until the peak will occur next year. the possibility of the price of bitcoin can touch at the price of 100K dollars or will touch its latest ATH even though it has not reached 100k dollars but if it touches its latest ATH price it will definitely be able to.

News having an impact is actually quite a wrong approach, it is not the news, it's the reaction to the news that has an impact. It could be the greatest news ever and if people do not react to it then it won't go up, it can be minor non-important thing and if people react well to it then it will take the price higher.

Plus, we are going to have halving and then after that it will start to go up slowly and people think that it is going to be the most important part, whereas we all know that news will take all the credit unfortunately. Like during bull run, some silly stuff will happen and price will go up and people will say it was because of the news, when in fact it went up because it is in bull period and that's what it does during bull periods.

It is difficult to predict that the news can and will have an impact because the situation is already approaching the halving period; however, any news will usually always have an impact, but the impact at this time may not be very significant.It is true that the halving period is approaching, and usually pumping will occur soon because the halving situation itself has provided this encouragement.But it is difficult to be able to prove with certainty that this news cannot provide encouragement, because usually bitcoin will always experience this, but because it is approaching the halving period, the situation is biased.

If your question means will the news skyrocket the price of BTC, then my answer is, I think not.
Nigeria rose to just behind India in adoption during the restrictions, what makes you think the news of no more restrictions will 
Increase adoption and skyrocket the price? I don't even think it will skyrocket the adoption of Bitcoin in Nigeria.
Nigeria is facing a currency devaluation of over 100% and it's still rising, who'd want to rely on a currency like that when they can just rely on Bitcoin? The people of Nigeria realized this a long time ago, and so did the central bank of Nigeria, hence the restrictions.

By the way, With all due respect to Nigerians on the forum, Nigeria is a single country, they have a very unstable economic and political system, so the economic activities of that state cannot affect something like Bitcoin. Even if Bitcoin becomes legal tender in Nigeria today, it won't still skyrocket the price of Bitcoin.
Instead, it is the economic activities of other countries that will affect the economic situation of Nigeria. Like the American inflation the Russian-Ukraine war, Oil price, etc.

Of course, news updates like this are always positive news for Bitcoin and can have a positive impact, but we should not get false hope with news like this.
Bitcoin ETF and Bitcoin halving are among the things that should get our hopes up.
Bitcoin stability, Bitcoin price, updated technological advancement, and more are things that can increase Bitcoin

And that is the most important feature of Bitcoin the ability for everyone to have bits and keep exploring the industry via knowledge and practical involvement,  indeed Bitcoin have served millions of Nigerians mostly youths who sees the opportunity as a golden chances for them to involve in a technology that gives freedom from third-party involvement and privacy,  this is opposites of what we used to have with the Nigeria before cryptocurrency,  where the weight of the nations and access to advance technology is only given to the rich and privileged ones.

But the narrative has changed and even when the central bank tries to impose on the rights of the youths who are the major Bitcoin adopters we never give up on the use of P2P Nigerians still found they're way around until recently when the central bank gave a reverse order,  against banks inter cryptocurrencies transaction,  although the motivations are no longer there to use banks any more but the good news is that,  Bitcoinairs in Nigeria can now freely identify with the technology and own them at will and not just hide and sick thing.

I do agree that Nigeria being a bit more open to bitcoin did definitely helped a lot. People forget the difference between a nation that has money versus a nation that has rich people. Nigerians on average may not be all that rich, but they do have a lot of money in that nation and a lot of population, which means, when you combine them all together as a nation, that becomes a huge amount of money, sure a single investor may not be as rich as an American for example, unless it's a rich Nigerian, but when they combine together, they make a big difference.

This is why it's quite important to remember that when you are dealing with these type of things, you are going to end up with something that would benefit everyone all together.

the fact that so many large investment firms favouring bitcoin ETF make me think that it will be approved honestly, some of the company that tried to be authorized participant in the bitcoin ETF and that may be a good thing idk.
after all the final decision is on the SEC to approve the ETF but if it is going to be approved then its gonna be massive news the price would soar massively and then from here on i wouild expect the price of bitcoin to go up high and higher maybe might eventually reaches the former all time high because thats only realistic if something big happening, this ETF approvel is like a key.
just hope that the opposite of that is not going to happen though because after all its gonna be bringing the whole market to massive correction again might potentially disturb our trajectory towards bullish market in the next year.

Thanks to everyone that has summarized the article and did us a favor not to visit it.

While all of us knew that it's going to be halving that will be the biggest contributor of the next bull run. It's just so happen that it's timely that these ETFs have been applied and now, they're also thought to be contributing bigger than the halving. Many of the speculators telling and relying on these news have to see how did Bitcoin in the past. There's always like two or more contributors for the bull run but regardless of that, it's always been halving that gives a bigger space for this bull run because of the effect of it. So, as early as the next halving on 2028 I think that there will be another contributor as they say other than these financial institutions.

Yes, I agree with you on the removal of the ban by countries being a major propeller of the Bitcoin price increase in recent times,  and one among such countries who have had a positive outlook on Bitcoin recently is Nigeria,  the central bank of Nigeria just lifted the ban banks intermediary for cryptocurrencies transactions.

Before now,  Nigeria despite being the lead country in Africa in terms of Bitcoin adoption which can be seen in the volume of transactions from Nigeria,  the central bank banned banks' direct involvement in Bitcoin and this limitation has limited the public adoption of Bitcoin in Nigeria,  until recently that the ban was lifted which will usher in a new dispensation for bitcoin adoption in Nigeria.

I think we should think it again if those major cryptocurrencies are good to be called as shitcoins.


I agree with you. But if ever they lift the ban on Bitcoin right after the ATH was broken, there is a big possibility that the price will skyrocket since there is no visible resistance to be respected. If we look back at the chart of Bitcoin on the year 2020, after it surpassed the $19666 ATH, the price exploded.

Maybe YES or maybe NO...No assurance for this news and it was hard to rely upon something but of course, we could think could somehow give some influence to the buying people. However, as the halving is on its way closer, pumps will happen anytime and we can make this a reason for a skyrocket in the sense that halving itself has a huge impact on the market price since before.

We may consider this as a contributor to the pump but too hard to point out that would be the main reason. Because at this point, I see nothing could help the skyrocket other than halving.

Every single time there are talks about Bitcoin ETF being potentially accepted, that definitely helps bitcoin a lot, we have seen it do well enough and we should consider that as an option. I think the best thing to do right now would be making sure that we are dealing with something that could actually give us a good return, and that means we are going to end up with a long term holding.

If you are a long term holder, you will eventually see the ETF being accepted one day, it may not be right away, but it will get approved one day and along the way there will be a lot of news of it being approved soon enough, true or false, all of which would help you. This is why I try to avoid selling my bitcoins no matter what, unless I am absolutely forced to.

Positive news released can encourage prices to increase. But making Bitcoin's price skyrocket requires more than good news.
But this news might drive bitcoin prices to increase again after the correction a few days ago. But if nothing happens after the news is released, we still have to be patient and wait for changes in the price of bitcoin.
Sooner or later, the price of bitcoin is bound to increase. You don't need to worry and stay focused on collecting more bitcoins.
Don't panic if there is negative news that wants to make the price of Bitcoin decline again because negative news will always be there.
You have to be able to restrain yourself and remain patient and calm to see the opportunity to accumulate more bitcoins.

When China left the crypto space, nothing changed and bitcoin was doing fine to the extend that it got to the highest price ever in this circle. This shows that they cannot add any significant to the price of bitcoin now that they have seen that bitcoin has disappointed them and they are back again to adopt it. I will call it lack of direction on the government based on crypto currency. This is how bitcoin will continue to shame those who think that bitcoin is their enemy because bitcoin was not created to challenge their fiat currency but they think that they can surpress it. Bitcoin is growing naturally because it was designed not to be manipulated even though men have tried, whoever pulls out or adopt bitcoin wouldn't stop it from growing.

The only correlation is that the Chinese government wanted to keep the price of Bitcoin down, with news of like regulating their mining, but that is over for now. The market remains very bullish as this point and I don't think that there will be negative news that will dampen the market again.

I guess we all know what will fuel the price,

- block halving next year
- potential approval of Bitcoin spot ETF

And with the response of others, it seems that the article is just generic.

disclaimer: I didn't click on the link

Tbh, this news looks rather positive but unfortunately Chinese keywords in the crypto category are no longer the most highlighted news in the main media as they used to be. I think the correlation between crypto and the Chinese government is over, since the latest ban policy is their ultimate rejection of the industry.

I agree and demand is a major factor. If forced, they still need to consider how Bitcoin will be converted into something of real value because prices can swing back to each other like two pendulums, meaning here the importance of hedging strategies against possible price drops. value of Bitcoin and we will see how much effort and risk there is for brokers to maintain their level of investment in pricing strategies if the law is then enacted.

Legal legislation alone is not a sufficient reason to pump prices. If all countries decide to consider Bitcoin a legal currency, demand will not increase and the price will not change significantly, but if a company or several companies decide to invest in Bitcoin or Bitcoin is considered a legal tender, then people are forced to buy and the price will increase.

They just want to see and make the price of Bitcoin and digital currencies rise and fall and attract the interest of people who care about it, nothing more if we examine it more closely.

Indeed, we will also see some people using the news as justification and showing other people that what is written will really happen, even though the media is just giving their opinion and titles like this are often designed to attract the reader's attention.

It would be very interesting to see the actual reality. later in January and February 2024.

You should have provided a brief information as to what the article is talking about.

I didn't click on the link but I can read the headline through it. It doesn't sound convincing to me. It is probably written by somebody who is just trying to look for a new and fresh perspective hoping it would become a big hit.

An approved Bitcoin spot ETF can't be underestimated. It will definitely encourage a lot of investors to get direct exposure to Bitcoin.

I also don't think there is an unexpected huge one-time bank flip. That is not unexpected at all but it will be gradual. And it is already starting to happen.

News like this can indeed have a positive impact, but the impact is not very significant. We expect the impact will occur gradually because large investors will enter gradually with clear legal requirements, meaning they are truly confident that they are safe to do so without any risk from regional regulations.

The government's target is to increase the country's economic strength and also strengthen the economy of its people. Softer crypto regulations will have the effect of strengthening people's economies rather than impoverishing them further due to inflation, so maybe this will help them gradually, not very quickly. In my opinion, such news could have a good impact on bitcoin and its users too.

This is a very generic article but stating there has been push to the value of XRP? No way there hasn't been much happened with XRP and Spot ETF factor has played ita role in giving the much needed boost to the value of Bitcoin but I don't think we should be entirely linking the growth of Bitcoin to it as there are other major factors like upcoming halving.

As far as China is concerned we cannot trust them as they will be pro Bitcoin today and stunch enemy tomorrow but Nigerian market will have a role to play.

It's weird that the article tied Bitcoin price with shitcoins like ETH, XRP and Solana.

In any case different countries removing bans on bitcoin would affect bitcoin positively as it would help adoption of bitcoin grow in those places. However, I don't think it will be massive enough to be referred to as "skyrocket". Many of those "bans" like in China, happened too late into Bitcoin's life so they couldn't prevent people from finding out about bitcoin. Some of them weren't even a full ban, they were shutting down exchanges for instance and it was still legal for regular people to buy bitcoin.
This means removal of the ban won't have a significant effect.

Didn't click on the link, but it's it obvious though that it will fuel the price of BTC? last month there were news that it was approved or something or that it's ticker has been displayed and then removed:

https://cryptoslate.com/bitcoin-retracts-and-rebounds-after-blackrocks-new-etf-ticker-removed-from-dtcc-website/

Perhaps there are people who just wanted to test and see the reaction of the investors, and it was very positive. And after that the price of bitcoin continue to go up to $40k++. So just imagine if next year, the BlackRock Bitcoin Spot ETF is going to be approved by SEC. We might see the price getting a massive run, that I think we might get closer to our previous ATH.

Will it give fuel to skyroket for btc ? I think it will good news for BTC lovers  

https://www.forbes.com/sites/digital-assets/2023/12/23/big-news-forget-the-spot-bitcoin-etf-a-huge-unexpected-bank-flip-could-be-about-to-hit-the-price-of-bitcoin-ethereum-xrp-solana-and-crypto/?sh=19cf3a7e75e1