CNBC Analyst Predicts Bitcoin Price Is ‘About To Explode,’ Citing ETF Buzz

[bintangkejoraku]

it seems like a price increase like last year is impossible to repeat again this year, yesterday the price of bitcoin dropped very far and that made many investors increasingly frustrated. this makes the price of bitcoin very difficult to rise.

[pixie85]

i don't count as well but i'm always BULLISH as f*** ,long term perspective of BTC is just as solid as a rock, its just so good in so many ways.
I'm also a long time hodler and bear or bull market, i do not deviate from the big picture and the LONG term succes ahead for BTC.

And you are wise to be bullish. There were many bear markets since the beginning of Bitcoin and the same pattern repeats every time. There's a bull run that ends with a new all time high and a bear market that follows, which always ends above the point from which the previous run launched. This means that we are in a continuing long term uptrend that lasted 8 years. Even if we went down to 3000 USD it would still be a confirmation of this pattern that in less than 2 years will take us to a new high. I can wait

[BitcoinNewbie15]

it seems like a price increase like last year is impossible to repeat again this year, yesterday the price of bitcoin dropped very far and that made many investors increasingly frustrated. this makes the price of bitcoin very difficult to rise.

There can't be a parabolic rise every single year. This year needed to be bearish due to 2017s insane price upswing. Don't be frustrated because this year isn't looking too bullish. If anything, a bearish year is good, as that gives you time to accumulate. A bearish year with Bitcoin is usually followed by a bullish year, so if we don't see any bullish action by the end of the year, that just means 2019 will likely be that much more bullish. The time to buy is when people are thinking of selling.

[1Referee]

Weird that very few 'experts' have had a go at predicting what Bakkt will do. It could be huge, it could be nothing. It would be fun to see some guesses.

Probably a sign that most of them don't really understand what it does and stands for in its entirety, and honestly speaking, I don't know it either. I can't be bothered by all these "big" events with how the market doesn't give a shit about anything that's even remotely positive during a bear market. Seriously, we have had so much fundamentally and non fundamentally good news, and yet none of it even bumped the price a dollar or two.

Last year the CBOE & CME futures were the drivers of the bull run, and the recent 'announcement' of Ethereum futures hasn't done one single shit with its price. Another sign that news heavily depends on the market sentiment in order to affect the price.

[exstasie]

Obviously everyone is jumping on the bandwagon about the ETF and we have heard a lot of media saying that it will bring institutional money in the market and could probably end this bear market.

That could very well be.  I have a feeling that there are a lot of people with very deep pockets who don't want to own on a computer/phone, in a wallet--the way most of us do.  They would be more comfortable buying something like an ETF that's listed on a stock exchange, which would make their investment much easier to sell.  That makes sense to me. 

And yeah, I'm tired of hearing about the ETF too.  I wish they'd either piss or get off the pot, but I'm hoping it actually does get approved.  My guess is that it would have a positive effect on price, but I wouldn't bet my house on it.

I thought everyone had already moved on from this ETF stuff. I'd stopped hearing about it completely before seeing this thread.

I think the market's already priced in a rejection anyway; there's no rumor to buy and the ETF hype is dead after all the rejections and delays. We're still waiting until February now, right?

As far as what it would do for price......it's a good reason for a pump but that's all. The existence of an ETF doesn't fundamentally create new demand. The question is whether investors are really waiting for an ETF to invest in BTC. That sounds a bit farfetched.

[Febo]

Obviously everyone is jumping on the bandwagon about the ETF and we have heard a lot of media saying that it will bring institutional money in the market and could probably end this bear market.

That could very well be.  I have a feeling that there are a lot of people with very deep pockets who don't want to own on a computer/phone, in a wallet--the way most of us do.  They would be more comfortable buying something like an ETF that's listed on a stock exchange, which would make their investment much easier to sell.  That makes sense to me. 

And yeah, I'm tired of hearing about the ETF too.  I wish they'd either piss or get off the pot, but I'm hoping it actually does get approved.  My guess is that it would have a positive effect on price, but I wouldn't bet my house on it.

I thought everyone had already moved on from this ETF stuff. I'd stopped hearing about it completely before seeing this thread.

I think the market's already priced in a rejection anyway; there's no rumor to buy and the ETF hype is dead after all the rejections and delays. We're still waiting until February now, right?

As far as what it would do for price......it's a good reason for a pump but that's all. The existence of an ETF doesn't fundamentally create new demand. The question is whether investors are really waiting for an ETF to invest in BTC. That sounds a bit farfetched.

LOL ETF hype is alive for all the time I am monitoring crypto. From 2014. I dont believe it will ever go away. Even once first ETF happens there will be hype about next better one.

[naidray]

We are already aware of the etf buzz, we are creating the freaking etf buzz, the trouble is we already know the etf will not be accepted, no etf in the near future will be accepted. Eventually crypto will get big enough that not accepting the etf would be a stupid option so they will agree to it however right now while we are in a stagnant market that followed a bear market before that ? Highly unlikely.

I am not saying the price will go low or anything, I think the price hit the bottom however I doubt it will skyrocket right after a etf acceptance anytime soon. It will get rejected again and the price will stay around the same.