Is Hong Kong Bitcoin ETF Responsible for Recent Bear

[Yaunfitda]

Hong Kong's total ETFs market is worth about $50 billion, which is very small compared to the US ETFs market, which is estimated at slightly less than $9 trillion. The amount of money and the number of investors in HK therefore could not have any significant impact on the price of BTC, with the fact that mainland Chinese cannot invest in that ETF.

The story was sold for weeks as "the next big thing", and realistically few mentioned that Hong Kong and China are not the same thing when it comes to investing really large amounts of money in anything. Maybe that's why China allowed such an ETF to be approved, because interest in it will probably be quite low, and money control will still be at a high level.

True, there is no connection at all, it's just a coincidence that when Hong Kong has it's first trading day, it's not enough to push the market and there are news about the Feds that coincides with it and so the negative news = price going down. The question is, it this going to be worrisome for us as we are expecting that the price is going to go up because of halving? Nah, for experience investors, they might see this a normal movement. And we have seen this in the past that after the halving, their is no immediate effect and seems that the price will go down and then it will settle down in a straight line for quite sometime before the prices or investors started to pour their money to cause the price to go on a parabolic rise later before the end of the year.

[Lucius]

~snip~
Nah, for experience investors, they might see this a normal movement. And we have seen this in the past that after the halving, their is no immediate effect and seems that the price will go down and then it will settle down in a straight line for quite sometime before the prices or investors started to pour their money to cause the price to go on a parabolic rise later before the end of the year.

I would not even use the word "normal" but rather "extremely profitable development of events" because the volatility that Bitcoin has is something that attracts investors (at least serious ones who know how to trade). Those investors were obviously very satisfied with their profits and estimated that it was time to exit, and there should be no doubt that they will use the current dip to invest part of their profits in cheap BTC.

I also hope that a new bull run will follow in a few months, but that should be taken with a grain of salt considering that we live in a world that is completely unpredictable. However, if the announcements of central banks about lowering interest rates come true, there should be no doubt that this will be an additional incentive for most investors.

[el kaka22]

I do not think that it would be. Because, if it was something so large and big and cared about as well, then it would have a lot more liquidity and volume. Because, it has no volume that people care about then I feel like it can't also be the thing that dropped it so much, for it to drop it requires a lot of sellers and a big volume on that side, if there was volume about it then I would guess that it would be on the people who actually traded there.

This must be just people who sold after the halving, there were a lot of people who bought until the halving and they sold afterwards, a wrong move but there are a lot of people who make wrong moves anyway, so it is not really a shocker, and I believe that it will not be all that simple.

[bitgolden]

Hong Kong's total ETFs market is worth about $50 billion, which is very small compared to the US ETFs market, which is estimated at slightly less than $9 trillion. The amount of money and the number of investors in HK therefore could not have any significant impact on the price of BTC, with the fact that mainland Chinese cannot invest in that ETF.

The story was sold for weeks as "the next big thing", and realistically few mentioned that Hong Kong and China are not the same thing when it comes to investing really large amounts of money in anything. Maybe that's why China allowed such an ETF to be approved, because interest in it will probably be quite low, and money control will still be at a high level.

True, there is no connection at all, it's just a coincidence that when Hong Kong has it's first trading day, it's not enough to push the market and there are news about the Feds that coincides with it and so the negative news = price going down. The question is, it this going to be worrisome for us as we are expecting that the price is going to go up because of halving? Nah, for experience investors, they might see this a normal movement. And we have seen this in the past that after the halving, their is no immediate effect and seems that the price will go down and then it will settle down in a straight line for quite sometime before the prices or investors started to pour their money to cause the price to go on a parabolic rise later before the end of the year.

I agree with the part where experienced traders and investors would know that it is not important what it was about, but we know that it will go up, so we just need to make sure that we can do whatever we can do, to make sure that it is going to get better in the end, that's what we need right now. I personally believe that we are going to get a great result in the end, and that's what we should be doing for the long term.

I hope that it could get to a point where we could just consider it to be a lot better, and because of that I believe that we are going to get a good result eventually. Just assume that we are going to get good results because if people keep thinking that it is not going to get better, then they will not invest, and will miss their chance.

[fuguebtc]

Is Hong Kong Bitcoin ETF Responsible for Recent Bear

Maybe it's just a coincidence and I personally don't think much of it. Why do we always have to run around every time bitcoin corrects and see what causes it? And if we know the cause, what will we do next? Personally, I think it's very simple, cryptocurrency is also a financial market and increases and decreases are very normal in the market. Bitcoin has risen so much and a correction is inevitable, why are we trying to make things more complicated? You cannot expect bitcoin to rise and rise, and only rise without correction.

[Mate2237]

Op supposed know that bitcoin is a volatile in nature and the price moves up and down. And I don't think it is because of the Hong Kong approval of bitcoin ETF that the price.od bitcoin come down these days but it is in the correctional stage and after now everything will be settled back to normalcy to the ATH. We are expecting the ATH from the month to November or December to enter next year. Investing now is a good idea.

[ShowOff]

Is Hong Kong Bitcoin ETF Responsible for Recent Bear

Maybe it's just a coincidence and I personally don't think much of it. Why do we always have to run around every time bitcoin corrects and see what causes it? And if we know the cause, what will we do next? Personally, I think it's very simple, cryptocurrency is also a financial market and increases and decreases are very normal in the market. Bitcoin has risen so much and a correction is inevitable, why are we trying to make things more complicated? You cannot expect bitcoin to rise and rise, and only rise without correction.

It has become a habit to know what causes the decline in the price of Bitcoin at any given time, that is part of what must be considered as a fundamental before you invest. I know some investors don't think about it as much as they could, but others need it to support subsequent analysis to know where the price is going.

If the reason for the decline is considered very negative and has the potential to impact the possibility of the price falling, then they will prepare to sell or place a buy order at a price that is more likely to be achieved during a correction. The reason for the price drop is important, so don't blame those who want to shop around for information about it.

[macson]

The bearish market that occurred this time is not much different from the bearish market that occurred during the previous bitcoin halving and is not the result of the Hong Kong Bitcoin ETF.  if we go back to the past, we will see that the price of bitcoin will not always be at the top, there are times when the price falls far from the ATH and this is normal.

Bitcoin is a very volatile investment asset ^{(not like gold or property, but the price increase can exceed that of gold and property)}, and this is something that really allows us to make big profits, especially those who apply the DCA concept.

[stomachgrowls]

Is Hong Kong Bitcoin ETF Responsible for Recent Bear

Maybe it's just a coincidence and I personally don't think much of it. Why do we always have to run around every time bitcoin corrects and see what causes it? And if we know the cause, what will we do next? Personally, I think it's very simple, cryptocurrency is also a financial market and increases and decreases are very normal in the market. Bitcoin has risen so much and a correction is inevitable, why are we trying to make things more complicated? You cannot expect bitcoin to rise and rise, and only rise without correction.

It has become a habit to know what causes the decline in the price of Bitcoin at any given time, that is part of what must be considered as a fundamental before you invest. I know some investors don't think about it as much as they could, but others need it to support subsequent analysis to know where the price is going.

If the reason for the decline is considered very negative and has the potential to impact the possibility of the price falling, then they will prepare to sell or place a buy order at a price that is more likely to be achieved during a correction. The reason for the price drop is important, so don't blame those who want to shop around for information about it.

Its a common approach on which people or the community will really be finding out those news and other fundamentals on which causes up the recent dip or correction on which its really that a normal thing.
Although not all news that would really be attached to it will really be precisely the reason on why did the market dips because we know that this marketi isnt something that can be predicted.
It could really be able to move without any reasons backed at it, somehow having these kind of information and events could really be giving out something that will really be helpful for you to make out
some analysis on which you could really be able to apply with these sentiments and make out assumptions whether it would be negative or not.

Drop or pump, then it would really be impossible for you not to be able to make yourself that doing on the things that must do. There are really such conditions that
you would be skeptical but you should act and move if you do want to take advantage on such movement.

[X-ray]

Op supposed know that bitcoin is a volatile in nature and the price moves up and down. And I don't think it is because of the Hong Kong approval of bitcoin ETF that the price.od bitcoin come down these days but it is in the correctional stage and after now everything will be settled back to normalcy to the ATH. We are expecting the ATH from the month to November or December to enter next year. Investing now is a good idea.

current market sentiment really poor, right now even if other countries also releases news of ETF approval the price will still get some corrections.
there's absolutely no correlation with the hongkong bitcoin ETF to the current pricing, maybe because we already got approved of ETF once now other ETF approval doesn't really sell out as a good news but instead just your ordinary things.
I can understand that since even current price is unimaginable back few months ago.
if we gonna see bitcoin price increase we might see new narrative in the future which might causes the price to get back up again, the fact that such narrative just suddenly appear and make the market bullish is one of the characteristic of crypto market that I like.
who would've thought few years ago that bitcoin ETF gonna get approved but here we are.

we only need a little patience until there's new thing that could make price surge.

[wiss19]

It's really hard to see the relationship, but in any case, the volume just ceases to exist in the US as well, so for me it's not the only reason for the price to go below $60k right now. There could be some individuals who are manipulating the price or just trying to create negativity by selling some and newbie traders seeing that huge sell order and they panic and sell. But in any case if your observation is true, then after this downside, in the next couple of months we should see the price going up again and maybe  we could reach at least $80k next quarter.

Or we can say that there is no relationship at all but in terms of bear only because BTC ETF is supposed to bring the price up. I think there is no bear yet but what happened is only a correction, as we know we broke an ATH last time and this correction is not new, so Hong Kong and their BTC ETF approval has nothing to do with it.

I do not think this downside can last for a couple more months but we should recovered by the next few days and that would resume the bull run which can get us to $80k and beyond but if there is a limit to what we can achieve this year, I would go with the most requested which is none other than $100k.

[Republikcoin.com]

Op supposed know that bitcoin is a volatile in nature and the price moves up and down. And I don't think it is because of the Hong Kong approval of bitcoin ETF that the price.od bitcoin come down these days but it is in the correctional stage and after now everything will be settled back to normalcy to the ATH. We are expecting the ATH from the month to November or December to enter next year. Investing now is a good idea.

I also thought that this was just a coincidence which happened at the same time as the Bitcoin price correction in the market so I don't have to think of it as a definite effect. Because the more logical effect is due to the take profit of some investors and also traders in large amounts after they bought Bitcoin at a lower price. And now Bitcoin has also started to increase again in the market and has again touched the $63K level that occurred today so there is a possibility that market conditions and Bitcoin prices will return to what they were at the beginning of last month.

[The Sceptical Chymist]

Nah.  Bitcoin sometimes responds to events big and small, but in the case of the Hong Kong EFT I think the drop in price was just coincidental.  I can't see any reason why the launch of an EFT would cause the kind of volatility that we've seen since March.

A better explanation is that some of the bigger bitcoin players who made a lot of money from the recent bull run took their money off the table, i.e., sold bitcoin to lock in their profits.  If you look at the one-year price chart for bitcoin, you'll see it hit its ATH and then slowly taper down:



That indicates to me that there was a lot of selling going on, and what better time is there to sell an asset if you're not in love with said asset?  You sell it when its at or near its peak.  But hey, that's just my semi-educated guess.  There's just no telling why bitcoin's price does what it does.

[spectre71]

Ice cream sales are directly correlated to shark attacks in Florida.

Doesn't mean they are related.

Listen Einstein's, what happened a few days ago? Oh the FED that's right.

Some anticipated the fed would drop but it held, no cheap money coming soon. Prices respond accordingly.