But a more important point is Bitcoin halving will happen in April 2024, even if SEC. refuse all Bitcoin Spot ETF applications, 4 more months will be enough for Bitcoin to recover.
Honestly, I'm skeptical about a recovery during the halving. Looking back at last year, Bitcoin had this super exciting bull run about a year after the halving. Yeah, it might take some more time before we see Bitcoin heading to the moon.
I'm still unsure about the ETF, so in the near future, Bitcoin might experience a bit of a price shake-up. It could go bearish, maybe down to around $40k or even $38k (worst-case scenario). This isn't really a prediction, but gearing up for the worst-case scenario isn't a bad idea.
Imo, short-term = hard to promise, cause ETF
mid-term = looks a bit favorable for the Bitcoin market due to the halving,
long run = I still believe in Bitcoin,