Bitcoin ETF Approval: Fueling Bullish Momentum?

[bbc.reporter]

*snip*

Lmao it's a shitshow. Can't believe such false news caused a domino effect among other "news" sites as they blindly followed the original article poster.

On the bright side — at least we now have an idea on how much we can pump once a real ETF approval takes place.

Agreed, it is really very head shaking how everyone is cheering for this market manipulation. This is very bad and it might reduce the chance of an ETF approval because the SEC can presently declare that the bitcoin market is being manipulated easily.

There is also these types of fud that are being reported by mainstream news media. I speculate that because of this war and because of the sensitivity of the situation in the Middle East, I reckon some of the applicants of the ETF might remove their applications and postpone later.



How Hamas is using cryptocurrency to raise funds

But Hamas has apparently not stopped such efforts altogether. On Tuesday, Israeli authorities announced the freezing of additional cryptocurrency accounts that the group had allegedly used to collect donations during this week’s conflict.

And aside from bitcoin, crypto wallets that Israeli authorities have said are linked to Hamas have included the cryptocurrencies Ether, XRP, Tether and others, according to an Israeli government order.

It’s unclear how much money Hamas has received in cryptocurrency, but there’s evidence they have amassed significant amounts.

Source https://edition.cnn.com/2023/10/12/us/hamas-funding-crypto-invs/index.html

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[stadus]

On contrary though, we have seen how a supposedly Bitcoin ETF approval will fuel the market. We've seen a glimpse of it, and so imagine if this is really true and it did happen when we are about to commence the bull run after the block halving, could really be a huge surge of money in the ecosystem.

Nevertheless, it was a fake news, on the bright side, we witnessed $30k after. But obviously short day traders could have taken advantage of it and speculate and then sell at that price, pulling down the market to the $28k'ish.

Even with fake news, as long as the market is already on a bull run, it won't mess things up much. The bullish trend will just keep on rolling. That ETF thing has been making the rounds in rumors for a while now. I reckon those rumors help fuel the bullish sentiment because people are used to hearing about it. In the long run, it could have a significant impact on the market.

But speaking of hype, it usually hits harder when the rumors are fresh and exciting. You know how they say, 'sell the news' because by the time it's official, the hype might have worn off.

[Minecache]

Cointelegraph's twitter account has over 2 million followers and that's why it had such a strong impact even though the news was deleted within 5 minutes. They apologized and I think nothing will happen to them even though everyone knows they are manipulating the market perfectly. But this shows the positive impact of the ETF on bitcoin. Even though it's just fake news, sooner or later it will happen so we just need to hold bitcoin and wait.

Whether they have an intention to create a fake news or not, but actually such news should have no impact to market, so I don't agree if you said they want to manipulate the market. It just an approval for Bitcoin ETF, there's no relation with Bitcoin where everyone can buy it through CEX, DEX or P2P.

Why someone need to buy BTC during SEC approving Bitcoin ETF? or anything that related to accepting and BTC when you can buy it now?

Many people are underestimating the impact of ETFs on bitcoin, but if you look back at the history of gold, you will see how gold skyrocketed after the gold ETF was approved. I also believe that the impact of an ETF on bitcoin will be huge and very significant on bitcoin price.

If it doesn't have any impact on the market then why is the entire market bullish and paying attention to ETF related news? You can also see that just 1 fake news release in less than 1 hour can make the bitcoin price increase a lot, but what do you think will happen if it is real news?

I think you need to look at this chart to see the real impact of ETFs being approved.

[tbct_mt2]

Many people are underestimating the impact of ETFs on bitcoin, but if you look back at the history of gold, you will see how gold skyrocketed after the gold ETF was approved. I also believe that the impact of an ETF on bitcoin will be huge and very significant on bitcoin price.

If it doesn't have any impact on the market then why is the entire market bullish and paying attention to ETF related news? You can also see that just 1 fake news release in less than 1 hour can make the bitcoin price increase a lot, but what do you think will happen if it is real news?

I think you need to look at this chart to see the real impact of ETFs being approved.

I believe Bitcoin Spot ETFs in the USA only get first approval and later ones in a big Bitcoin bull run. If such approvals come, they will come after halving events that historically cause new parabolic bull runs for Bitcoin.

Compare impacts of Gold ETFs to Bitcoin Spot ETFs is good but again your comparison is only kind of estimation and it can be under or over estimation. We don't know how one event can affect another thing before the event actually happens and effects already seen. Similarly to difficulty we have when trying to find bottoms and all time highs of each bear or bull market.

[n00ber]

Cointelegraph's twitter account has over 2 million followers and that's why it had such a strong impact even though the news was deleted within 5 minutes. They apologized and I think nothing will happen to them even though everyone knows they are manipulating the market perfectly. But this shows the positive impact of the ETF on bitcoin. Even though it's just fake news, sooner or later it will happen so we just need to hold bitcoin and wait.

Whether they have an intention to create a fake news or not, but actually such news should have no impact to market, so I don't agree if you said they want to manipulate the market. It just an approval for Bitcoin ETF, there's no relation with Bitcoin where everyone can buy it through CEX, DEX or P2P.

Why someone need to buy BTC during SEC approving Bitcoin ETF? or anything that related to accepting and BTC when you can buy it now?

Many people are underestimating the impact of ETFs on bitcoin, but if you look back at the history of gold, you will see how gold skyrocketed after the gold ETF was approved. I also believe that the impact of an ETF on bitcoin will be huge and very significant on bitcoin price.

If it doesn't have any impact on the market then why is the entire market bullish and paying attention to ETF related news? You can also see that just 1 fake news release in less than 1 hour can make the bitcoin price increase a lot, but what do you think will happen if it is real news?

I think you need to look at this chart to see the real impact of ETFs being approved.

The impact of ETFs is undeniable. Even one fake news can increase the price of bitcoin. If it is true news, it will have a huge impact, you are right about this. But for some reason, many people still don't believe in this and think it is of no use. I have also seen some charts on gold after the gold ETFs were approved and I also believe that the hype on bitcoin will be many times stronger than that of gold. Because bitcoin is already hugely hyped and this is the reason why it is hyped even more.

[NewRanger]

Something like this came up somewhere. A nice drop indeed and around 65 million in BTC liquidated... Some more weak hands are gone from the market. Evolution theory doing what it is supposed to do. Keep it going.
Nevertheless, an impressive move of price.

If we see market conditions and focus on the trading aspect and price movements it seems that the upward trend is approaching its peak point, the potential for a downward reversal is underway even though several attempts have been made to push the Bitcoin price up to continue the upward trend, but they have failed because there is quite strong selling pressure there. If the selling pressure continues and breaks the resistance at $28,200 then the price will fall to $27,500.

[Wend]

Something like this came up somewhere. A nice drop indeed and around 65 million in BTC liquidated... Some more weak hands are gone from the market. Evolution theory doing what it is supposed to do. Keep it going.
Nevertheless, an impressive move of price.

If we see market conditions and focus on the trading aspect and price movements it seems that the upward trend is approaching its peak point, the potential for a downward reversal is underway even though several attempts have been made to push the Bitcoin price up to continue the upward trend, but they have failed because there is quite strong selling pressure there. If the selling pressure continues and breaks the resistance at $28,200 then the price will fall to $27,500.

Are your predictions short-term? Because I think in the long run between now and the halving, we will have many corrections and there is even a possibility that bitcoin will drop to $23k, not just 27k. Even if bitcoin surpasses $30k this month, there is no guarantee that bull season has arrived and we won't be able to fall any further. If we believe in the 4-year cycle, bear season is not over yet so we cannot expect prices to increase from now on even though the market is doing well this month.

[OgNasty]

Obviously you can feel the change in the market since Blackrock announced that they’re getting into the game. I think everyone is expecting ETF approvals and a rally early next year as a result, so we can only hope that everyone is right and this isn’t a massive case of buy the rumor and sell the news, which would be bad.

[doomloop]

When someone trusts that source, he gets exactly what he was looking for, which is fake news or a poorly written article. It seems to me that someone from that team did it on purpose and made good money, and all that nonsense about the investigation is only for naive people who believe in fairy tales.

I think Cointelegraph is not like this on the past so maybe it is true that some of their team members are only messing up with their operations. Therefore the investigation that they said could be sincere. They need to catch that untrusted member and fire it up immediately in order to protect the reputation of the company. Most fairy tales might be fictional but I still believe that a happy ending can happen here.

If it happens that the SEC approves such an ETF for anyone, be sure that you won't read it first on some third-rate portal that doesn't know how to produce anything other than clickbait titles.

But, how do we know if SEC approves an ETF? Most of the times the only way for us to know the latest crypto news is by browsing crypto news sites. But one thing is for sure, and that is we will now double check things first before we believe on them.

[TheUltraElite]

Why are we all still looking at that Space-psycho owned social media posts as the bible?

Have we not matured enough to remain calm in situations like these and take everything in the crypto space with a grain of salt?
It needs more polishing it seems.

Anyway, I would suggest people to wait this out. If bullish markets set in, keep sell orders above 35K and 40K to maximize profits. If ETF does get approved, no wonder the prices will rise but they will correct again giving everyone buying and selling opportunities.

Hence bottom line - Dont panic and stop following social media.

[Iamcrypticguy]

With the rumoured SEC's approval of a Bitcoin spot ETF, we've witnessed a bullish surge in its price, surpassing the 30k range before pulling back to consolidate for another potential run.

Considering this, is it safe to say that we're experiencing a historically bullish October? Additionally, which alts are you considering accumulating before the year's end? Let's dive into the world of alts together.☺️

the Cointelegraph Twitter account said that the Bitcoin ETF was Approved, but now that tweet is no more. Manipulation?, Or just Negligence? But I leave you this image and tell me hehe

https://twitter.com/wiseadvicesumit/status/1713928047555125327

In my opinion, these are classic manipulations, but I believe a turnaround will happen sooner rather than later. Given this, don't you think accumulating some alts right now is a wise move? If so, which ones are you considering and where?

[ShinyStarPrincess]

With the rumoured SEC's approval of a Bitcoin spot ETF, we've witnessed a bullish surge in its price, surpassing the 30k range before pulling back to consolidate for another potential run.

Considering this, is it safe to say that we're experiencing a historically bullish October? Additionally, which alts are you considering accumulating before the year's end? Let's dive into the world of alts together.☺️

the Cointelegraph Twitter account said that the Bitcoin ETF was Approved, but now that tweet is no more. Manipulation?, Or just Negligence? But I leave you this image and tell me hehe

https://twitter.com/wiseadvicesumit/status/1713928047555125327

In my opinion, these are classic manipulations, but I believe a turnaround will happen sooner rather than later. Given this, don't you think accumulating some alts right now is a wise move? If so, which ones are you considering and where?

I am considering investing in $ORBS and $XOR. The latter seems more appealing to me because it appears to be oversold and could potentially yield returns for the Polkadot project. I am planning to purchase it on the latest exchange that listed it, which in this case is Bitget. By buying XOR on a centralized exchange (CEX), we can help reduce the token's emission.

[coolcoinz]

Many people are underestimating the impact of ETFs on bitcoin, but if you look back at the history of gold, you will see how gold skyrocketed after the gold ETF was approved. I also believe that the impact of an ETF on bitcoin will be huge and very significant on bitcoin price.

If it doesn't have any impact on the market then why is the entire market bullish and paying attention to ETF related news? You can also see that just 1 fake news release in less than 1 hour can make the bitcoin price increase a lot, but what do you think will happen if it is real news?

I think you need to look at this chart to see the real impact of ETFs being approved.

I see something else in your gold chart. Take a look at the years 99-2007. It looks like every previous bitcoin bear market, just placed on an extended time line. There was a bottom, followed by a strong pullback, then another bearish decline that formed a double bottom, so a confirmation of the bottom, followed by a return to the mean that eventually made the price go back to before the crash.

Compare this to bitcoin on the weekly chart. We have our FTX crash bottom, followed by a sharp pullback, this time with no double bottom formation and a return to a stable level of around 30k, which is almost half of the all time high, just like 9k was in 2019.

[ShayLegal]

With the rumoured SEC's approval of a Bitcoin spot ETF, we've witnessed a bullish surge in its price, surpassing the 30k range before pulling back to consolidate for another potential run.

Considering this, is it safe to say that we're experiencing a historically bullish October? Additionally, which alts are you considering accumulating before the year's end? Let's dive into the world of alts together.☺️

the Cointelegraph Twitter account said that the Bitcoin ETF was Approved, but now that tweet is no more. Manipulation?, Or just Negligence? But I leave you this image and tell me hehe

https://twitter.com/wiseadvicesumit/status/1713928047555125327

In my opinion, these are classic manipulations, but I believe a turnaround will happen sooner rather than later. Given this, don't you think accumulating some alts right now is a wise move? If so, which ones are you considering and where?

I am considering investing in $ORBS and $XOR. The latter seems more appealing to me because it appears to be oversold and could potentially yield returns for the Polkadot project. I am planning to purchase it on the latest exchange that listed it, which in this case is Bitget. By buying XOR on a centralized exchange (CEX), we can help reduce the token's emission.

Yeahh, $XOR is a good pick. I've been seeing it around lately, its usecase as a governance token will aid the democratisation of finance. I've also heard about the Candybomb event for Bitget Filipino users

[Sophokles]

I think Cointelegraph is not like this on the past so maybe it is true that some of their team members are only messing up with their operations. Therefore the investigation that they said could be sincere. They need to catch that untrusted member and fire it up immediately in order to protect the reputation of the company. Most fairy tales might be fictional but I still believe that a happy ending can happen here.

If this was intentional then this was a bull trap to fill up the short position above 27k level and trap the long position. This is a valid accusation, and if it is true then there will be initiative to liquidate those long positions before moving upward. This can be mistake done by the news portal media but if that is true then how did they make $2 million from this news manipulation? Their statement seems fishy to me and an official investigation report should be made public in the future.

[karabiber]

Considering this, is it safe to say that we're experiencing a historically bullish October? Additionally, which alts are you considering accumulating before the year's end? Let's dive into the world of alts together.☺️

I think the bull that will occur with the halving will definitely blow up layer 1 and 2. There have always been the igniters of the bull during the periods when the bull market dominated. After the 2024 Halving, i think the ignition will start with layer 2 coins. ARB and OP will take the lead. I will use the weight in favor of ARB, i trust the progress of the Arbitrum ecosystem more than OP. Because of OP hacking incidents etc. OP has corrected this situation and continues on its way, of course. In addition to Layer 2s, we can also add CELR, the Celer Network, which we call a Layer2 solution. These are the three coins that i think we must have in our hands when entering the bulls.

[goldkingcoiner]

With the rumoured SEC's approval of a Bitcoin spot ETF, we've witnessed a bullish surge in its price, surpassing the 30k range before pulling back to consolidate for another potential run.

Considering this, is it safe to say that we're experiencing a historically bullish October? Additionally, which alts are you considering accumulating before the year's end? Let's dive into the world of alts together.☺️

Why in the name of all that is Bitcoin are you asking about altcoin investment advice in the Bitcoin section? You do realize that Bitcoin is not an altcoin but rather the original cryptocurrency, right? That is what the "alt" part of altcoin means. Alternative coin.

I would be wary of trusting anyone claiming that some altcoin is a good investment. You can check the top altcoins at coinmarketcap.com and compare their functionality,  development and so on...

Also, the rumored approval was proved fake. It was cointelegraph sending out fake news. They already apologized for it.

[Minecache]

Many people are underestimating the impact of ETFs on bitcoin, but if you look back at the history of gold, you will see how gold skyrocketed after the gold ETF was approved. I also believe that the impact of an ETF on bitcoin will be huge and very significant on bitcoin price.

If it doesn't have any impact on the market then why is the entire market bullish and paying attention to ETF related news? You can also see that just 1 fake news release in less than 1 hour can make the bitcoin price increase a lot, but what do you think will happen if it is real news?

I think you need to look at this chart to see the real impact of ETFs being approved.

I believe Bitcoin Spot ETFs in the USA only get first approval and later ones in a big Bitcoin bull run. If such approvals come, they will come after halving events that historically cause new parabolic bull runs for Bitcoin.

Compare impacts of Gold ETFs to Bitcoin Spot ETFs is good but again your comparison is only kind of estimation and it can be under or over estimation. We don't know how one event can affect another thing before the event actually happens and effects already seen. Similarly to difficulty we have when trying to find bottoms and all time highs of each bear or bull market.

I know that nothing is certain here, but if you see the market reaction to the fake ETF news, you will believe that if the ETFs application is approved by the SEC, it will have a huge positive impact on bitcoin. Just as we are looking forward to the upcoming bull season after the halving, we do not have any evidence that it will definitely happen but we are still hopeful. So it's not wrong that many people are also hoping that the approval of ETFs will also create a price breakthrough for bitcoin.

[BitcoinPanther]

Many people are underestimating the impact of ETFs on bitcoin, but if you look back at the history of gold, you will see how gold skyrocketed after the gold ETF was approved. I also believe that the impact of an ETF on bitcoin will be huge and very significant on bitcoin price.

If it doesn't have any impact on the market then why is the entire market bullish and paying attention to ETF related news? You can also see that just 1 fake news release in less than 1 hour can make the bitcoin price increase a lot, but what do you think will happen if it is real news?

There is no doubt that approval of ETF will fuel the positive trend of Bitcoin.  It may not directly create demand but it can impact the market sentiment and can even give a huge impact to Bitcoin price if the ETF gain popularity and trust of masses.

David Waugh stated in an article that ETF can serve as a connection for financial professionals who were previously hesitant or unprepared to enter the crypto space which could positively impact Bitcoin.

[rhomelmabini]

With the rumoured SEC's approval of a Bitcoin spot ETF, we've witnessed a bullish surge in its price, surpassing the 30k range before pulling back to consolidate for another potential run.

Considering this, is it safe to say that we're experiencing a historically bullish October? Additionally, which alts are you considering accumulating before the year's end? Let's dive into the world of alts together.☺️

As I've read on one article from theblock, Gary said that they are either to approve it one by one or do it in batch. I think that gives some speculations that a spot Bitcoin ETF will really be approved. I wonder how would the market would react if it were to be approved, not mega bullish but it could mean a thing or two for those traditional investors who wanted it. No, don't talk about alts in here, we have a specific altcoins discussion to talk about alts.