My people una dey see waitin dey happen with bitcoin price ever since the ETF approval. Many thought it was going to be an upward trends after the sec approval, but na different thing we dey see in the pricing of bitcoin.
The fall in the price of Bitcoin after the ETF approval made me suspect that there is a regulatory body behind manipulating the price of Bitcoin. Dont banter me; it may be a fallacy or a factual point. Think about it: some people, if not everyone, were expecting to see an immediate upward movement in the price of bitcoin after the approval; instead, it was the opposite. How did it happen? Is it that they knew what people would be expecting and had to lower the price so that people would hold their bitcoins or panic sell them off out of fear of a dip?
If anyone knows why the price is falling, do well to share the information. I am very curious to know why. However, I expected it to be this way. But when you look at it logically, if there is an increase in demand, there should be an increase in the price because there is not much supply. Which is exactly supposed to happen after the ETF is approved? When did so many investors want to buy through the ETF, or was the ETF already trading or holding a huge amount of bitcoin before they got approved? It is illegal, you know!