Bitcoin ETF Approval; Price dumps, what Next?

[irsykes]

The ETF effect has been approved and has been targeted for a long time to dump Bitcoin significantly with news hoaxes of drastic increases in altcoins, we are just waiting for Bitcoin's final correction before the halving or after. and we will see a better market in the next year that is even bigger Wall Street businesses could have control

Yes, this is only a temporary condition due to yesterday's euphoria after the ETF was approved and I admit that it is very complicated to predict the price of Bitcoin correctly in the future, but I am personally optimistic that in the long term, BTC will be able to give birth to new enthusiasm, even though at first glance mass adoption is currently seen as still not enough to encourage Bitcoin. Indeed, technically it is still bullish and a profit-taking moment is also needed to earn more money to accumulate potential coins or tokens.

It is difficult to predict the future, but we have to be optimistic and focus on finding out what conditions are happening so that our assets are under control. Bitcoin shows a correction back to 40k and below, who knows what price it will stop at, but this correction will be the last before the birth of a new ATH. the correction that occurs could possibly reach 30k

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[Kakmakr]

I also think a lot of people do not realize what are actually happening when "Bitcoin" are transferred over to a platform that are manipulated by Fiat whales. The traditional Fiat trading platforms are the playground of the super rich and they have the ability to manipulate markets with insider trading and also "circle jerk" information sharing that can be used to influence markets and even currencies. (Just Google on how Banks colluded to manipulate currency values)

These guys knew well in advance that these ETFs would be approved, they bought early and they are "selling" and making profits. They also know that there will be a "correction" phase and they will use those profits to buy low again and sell when it is high. Bitcoin has entered the regulated arena of the Fiat whales, where you get f#$ked by their centralized and controlled systems.  

[darkangel11]

If those banks are not encouraging the Bitcoin ETF , people have options to still invest in bitcoin ETF, don't they?
These banks will eventually lose their popularity if they make policies that are not liked by the general public.

Yes and some clients close their accounts and move elsewhere to show their disapprove of the bank's stance.
People don't like being told what they can buy with their money, so this is a lost war for the banks in the long run.

Regarding the bitcoin price dump after ETF approval, better wait for the markets to reopen on Monday and you will find increase in demand for bitcoins  

They won't reopen on Monday because it's a holiday in the US. Probably another reason why institutions unloaded on Friday. They didn't want to risk Asia and Europe doing something unexpected during the long weekend. Also, by doing it they destroyed greedy leveraged traders.

Bitcoin has entered the regulated arena of the Fiat whales, where you get f#$ked by their centralized and controlled systems.  

Only when you don't know what you're doing. Since we all know they will buy back to profit and the supply is limited... Be greedy and they'll liquidate you. Hold your bitcoin offline and they'll have to bid high to get it.

[hyudien]

I also think a lot of people do not realize what are actually happening when "Bitcoin" are transferred over to a platform that are manipulated by Fiat whales. The traditional Fiat trading platforms are the playground of the super rich and they have the ability to manipulate markets with insider trading and also "circle jerk" information sharing that can be used to influence markets and even currencies. (Just Google on how Banks colluded to manipulate currency values)

These guys knew well in advance that these ETFs would be approved, they bought early and they are "selling" and making profits. They also know that there will be a "correction" phase and they will use those profits to buy low again and sell when it is high. Bitcoin has entered the regulated arena of the Fiat whales, where you get f#$ked by their centralized and controlled systems.  

That's how comfortable it is to be whales who can easily play a role in the market in and out of making profits, while we can only watch because we have Bitcoin handles and don't expect a big miracle to come suddenly after the ETF is approved the price will soar and make a profit. But whatever the situation and the turmoil of price  manipulation we as retailers are confused. Luckily we entered the Halving phase and didn't expect too much from this ETF whose impact was normal. I will stay focused on what the Bitcoin cycle has become regardless of whether  the ETF is having an impact or not the fact is that the whales are able to buy at whatever price they want.

[blckhawk]

It's a good sign in my opinion, the price going down means that it's giving us an opportunity to buy more and not think too much about all of this because at the end of the day, bitcoin will inevitably go back up and then go to the moon which it always does, I still don't get why people are so scared and panicky about bitcoin going down in prices when this has happened before and bitcoin reached an ATH.

[fuguebtc]

I also think a lot of people do not realize what are actually happening when "Bitcoin" are transferred over to a platform that are manipulated by Fiat whales. The traditional Fiat trading platforms are the playground of the super rich and they have the ability to manipulate markets with insider trading and also "circle jerk" information sharing that can be used to influence markets and even currencies. (Just Google on how Banks colluded to manipulate currency values)

These guys knew well in advance that these ETFs would be approved, they bought early and they are "selling" and making profits. They also know that there will be a "correction" phase and they will use those profits to buy low again and sell when it is high. Bitcoin has entered the regulated arena of the Fiat whales, where you get f#$ked by their centralized and controlled systems.  

That's how comfortable it is to be whales who can easily play a role in the market in and out of making profits, while we can only watch because we have Bitcoin handles and don't expect a big miracle to come suddenly after the ETF is approved the price will soar and make a profit. But whatever the situation and the turmoil of price  manipulation we as retailers are confused. Luckily we entered the Halving phase and didn't expect too much from this ETF whose impact was normal. I will stay focused on what the Bitcoin cycle has become regardless of whether  the ETF is having an impact or not the fact is that the whales are able to buy at whatever price they want.

If these fiat whales were able to manipulate the market when the ETF was approved, why would you ignore the scenario that they will continue to do the same with the upcoming halving event? If they can easily manipulate the market, they will take advantage of every opportunity to manipulate the market, there is no reason for them to ignore the halving event, a major event for bitcoin. I see the game becoming increasingly fierce with the participation of many traditional investment organizations jumping in. Things are gradually changing so we have to be more alert and careful.

[Rabata]

It's a good sign in my opinion, the price going down means that it's giving us an opportunity to buy more and not think too much about all of this because at the end of the day, bitcoin will inevitably go back up and then go to the moon which it always does, I still don't get why people are so scared and panicky about bitcoin going down in prices when this has happened before and bitcoin reached an ATH.

Those who were in Bitcoin's last bull market are certainly not too worried about the price of Bitcoin. Because they know that even if the price of Bitcoin falls, it will recover. But it is not worth investing in Bitcoin for those who are disappointed despite knowing this fact. We have recently seen Bitcoin ETFs are approved but the price is going down. It is not unusual for Bitcoin ETFs to undergo a slight price correction compared to the rise prior to approval. Although the market has a strong momentum now, many analysts are predicting that it will soon return to its previous position. Again many think that Bitcoin price can come between $35k to $40k but his is not a problem for Bitcoin holders.

[BTC_Dragon]

What happens next (for me, anyway) = DCA.

Friendly reminder that on this very day last year, we were floating around 21-22K. You're still up over 100% for the year. When in doubt, zoom out.

[radjie]

The ETF effect has been approved and has been targeted for a long time to dump Bitcoin significantly with news hoaxes of drastic increases in altcoins, we are just waiting for Bitcoin's final correction before the halving or after. and we will see a better market in the next year that is even bigger Wall Street businesses could have control

Yes, this is only a temporary condition due to yesterday's euphoria after the ETF was approved and I admit that it is very complicated to predict the price of Bitcoin correctly in the future, but I am personally optimistic that in the long term, BTC will be able to give birth to new enthusiasm, even though at first glance mass adoption is currently seen as still not enough to encourage Bitcoin. Indeed, technically it is still bullish and a profit-taking moment is also needed to earn more money to accumulate potential coins or tokens.

It is difficult to predict the future, but we have to be optimistic and focus on finding out what conditions are happening so that our assets are under control. Bitcoin shows a correction back to 40k and below, who knows what price it will stop at, but this correction will be the last before the birth of a new ATH. the correction that occurs could possibly reach 30k

This is a great opportunity for everyone who believes in the future of Bitcoin with a continuing price decline. The moment of a sharp price decline will certainly be taken advantage of by some people, especially those who have large capital.  It could be that the decline in the price of Bitcoin was carried out by a group of people or a community working together to be able to get more Bitcoin at a low price

[irsykes]

The ETF effect has been approved and has been targeted for a long time to dump Bitcoin significantly with news hoaxes of drastic increases in altcoins, we are just waiting for Bitcoin's final correction before the halving or after. and we will see a better market in the next year that is even bigger Wall Street businesses could have control

Yes, this is only a temporary condition due to yesterday's euphoria after the ETF was approved and I admit that it is very complicated to predict the price of Bitcoin correctly in the future, but I am personally optimistic that in the long term, BTC will be able to give birth to new enthusiasm, even though at first glance mass adoption is currently seen as still not enough to encourage Bitcoin. Indeed, technically it is still bullish and a profit-taking moment is also needed to earn more money to accumulate potential coins or tokens.

It is difficult to predict the future, but we have to be optimistic and focus on finding out what conditions are happening so that our assets are under control. Bitcoin shows a correction back to 40k and below, who knows what price it will stop at, but this correction will be the last before the birth of a new ATH. the correction that occurs could possibly reach 30k

This is a great opportunity for everyone who believes in the future of Bitcoin with a continuing price decline. The moment of a sharp price decline will certainly be taken advantage of by some people, especially those who have large capital.  It could be that the decline in the price of Bitcoin was carried out by a group of people or a community working together to be able to get more Bitcoin at a low price

Of course, people who have a lot of money preparing to buy Bitcoin will be at the bottom. The time that has happened will happen again, when Bitcoin approaches the halving, there will be a significant decline that won't last long. and the target price at which they hope to buy bitcoin hold long term

[jcojci]

What will happen next is that we have to keep waiting until the price reverses direction and starts to rise. After that, you can wait until your target selling price is reached to sell the bitcoin. It's okay if the price of bitcoin is still low now. There is nothing to worry about, let alone panic because the price continues to decline. It's an opportunity to buy more bitcoin before the price increases. Don't let us regret being late in buying more bitcoin.

Expectations about prices going up after SEC approval remain, and we are waiting for the time to come. Meanwhile, we can continue collecting bitcoins as we have been doing. Moreover, price increases do not happen immediately. But it also takes time.

[Odusko]

We were led to expect that the price would increase upon SEC approval, but the contrary is now happening.  What now?

Are you disappointed? As for me, although I also expected bitcoin to increase strongly, but I was not too disappointed when things did not go as expected because I knew bitcoin was very unpredictable. We should accept what is happening and plan next instead of continuing to be disappointed just because the bitcoin price did not increase in the short term as we expected. In terms of predicting what happens next, I still believe bitcoin will reach $50k before entering a major pullback.

I was not expecting any significant upgrend effects of the bitcoin ETF approval mostly in the short term, and for that the ETF approval is bearly a week in approval and for aude the event that happens after then in the Bitcoin market may have really been opposites of what many Bitcoin speculators have expected since many expected the price of Bitcoin to swiftly move up and not the current 42k+ BTC price we have right now, but then I know this is going to change most especially in the next few months when the halves cycle finally occurs.
By then, it will be two events pilling up and pushing the price to speed up in the long run, so for now, let's expect less and wait for the right timing and opportunity for the market realities, sure we are going to be seeing Bitcoin at least seating above the 50k region in this first quarter of the year before a main Bitcoin ATH.

[apogio]

It's been mentioned many times already but in general we need:

1. demand increase, more people get interested in bitcoin
2. supply decrease, therefore more difficult to find bitcoin

(2) is guarranteed to happen by the network rules
(1) is what we can focus on, introducing new people to bitcoin

There is no need to overcomplicate things, trying to read patterns, technical analysis etc.

Fundamentally speaking, (1) & (2) will lead to price increase.

[bitLeap]

Yes, this is only a temporary condition due to yesterday's euphoria after the ETF was approved and I admit that it is very complicated to predict the price of Bitcoin correctly in the future, but I am personally optimistic that in the long term, BTC will be able to give birth to new enthusiasm, even though at first glance mass adoption is currently seen as still not enough to encourage Bitcoin. Indeed, technically it is still bullish and a profit-taking moment is also needed to earn more money to accumulate potential coins or tokens.

It is difficult to predict the future, but we have to be optimistic and focus on finding out what conditions are happening so that our assets are under control. Bitcoin shows a correction back to 40k and below, who knows what price it will stop at, but this correction will be the last before the birth of a new ATH. the correction that occurs could possibly reach 30k

The most important thing is that the Bitcoin ETF has been approved, we just have to wait for the reaction of the people who created panic for themselves and the institutions behind the ETF bought according to their plan from the start, namely releasing negative news to the public so they could buy at a discount. Some people are selling their Bitcoin out of panic, in my opinion for the Hodler out there, don't sacrifice Bitcoin for the ETF moment and stay focused on the Halving which has been our tradition for so long. Bearish markets have become commonplace, so there is no longer any need to rely on the impact of ETFs. Gradually the large companies that enter will show their existence in the market during the halving.

[348Judah]

From my own point of view, since the bitcoin ETF approval have been achieved,we are more likely to experience more dip even than we are having now, you may not be surprised at seing that the market fall dip down to $30,000 which doesn't mean anything to fear about but we can only see that as an opener to know that the bull had already happened right before the bitcoin ETF approval was announced, but the more we are getting closer to halving also is the tendencies for the major bullrun to occur, which is most likely to start after halving.

[yazher]

It's a good sign in my opinion, the price going down means that it's giving us an opportunity to buy more and not think too much about all of this because at the end of the day, bitcoin will inevitably go back up and then go to the moon which it always does, I still don't get why people are so scared and panicky about bitcoin going down in prices when this has happened before and bitcoin reached an ATH.

This is considered a normal reactions for the market price and it won't be that serious because we have already happened to experience such a scenario in the past when the crypto market had some problems, it won't be forever and there will come a time when it will recover and gain much more price in the future based on its past history. While others are in a panic about selling their bitcoins, others are actually celebrating because finally they get a chance to buy low and sell it high in the future or for those investors who want to buy it low and hold it for the long term, this is one of the right time to do that while the price was still low and not so expensive when bull runs come this year.

[Minecache]

It's a good sign in my opinion, the price going down means that it's giving us an opportunity to buy more and not think too much about all of this because at the end of the day, bitcoin will inevitably go back up and then go to the moon which it always does, I still don't get why people are so scared and panicky about bitcoin going down in prices when this has happened before and bitcoin reached an ATH.

This is considered a normal reactions for the market price and it won't be that serious because we have already happened to experience such a scenario in the past when the crypto market had some problems, it won't be forever and there will come a time when it will recover and gain much more price in the future based on its past history. While others are in a panic about selling their bitcoins, others are actually celebrating because finally they get a chance to buy low and sell it high in the future or for those investors who want to buy it low and hold it for the long term, this is one of the right time to do that while the price was still low and not so expensive when bull runs come this year.

I was also surprised to see some forum members expressing disappointment about bitcoin's price drop in recent days. Because they are people who have been participating in the market for a long time and they are even one of the people who always urge people to buy bitcoin every time the price drops.

I wouldn't call this the best time or good price to buy because the price has increased quite a bit compared to many months ago. But that's not too bad a price for we can DCA and hold until bitcoin makes a new ATH.

[franky1]

I was also surprised to see some forum members expressing disappointment about bitcoin's price drop in recent days.

the great thing about bitcoin..
price up = more profit for coins you have
price down = more discount to accumulate more coin

[EarnOnVictor]

From my own point of view, since the bitcoin ETF approval have been achieved,we are more likely to experience more dip even than we are having now, you may not be surprised at seing that the market fall dip down to $30,000 which doesn't mean anything to fear about but we can only see that as an opener to know that the bull had already happened right before the bitcoin ETF approval was announced, but the more we are getting closer to halving also is the tendencies for the major bullrun to occur, which is most likely to start after halving.

Your expected bearish view is very valid and I expected such too. The market is weighing the fact that Bitcoin is overpriced with the ETF saga, it wants to make the adequate retracement before halving time, or at least any possible encouraging events that would move the price upwards. But the $30,000 psychological level that you called is way too low if I must say. I do not think that Bitcoin will ever see this level this year, and possibly next year because if it escapes it this year, the market will be at a higher level at the end of the year and this will make sure that even in 2025, it will be difficult for the coin to fall significantly to the point that it will hit $30,000 again.

Nothing is impossible in the market though but I will urge us to be much more careful and resort to our trading chart daily so that it will continue to put us through the possible outcome of a present bearish pattern of Bitcoin. However, technically on the preliminary Fibo analysis, I think that the 1D Fibo support level of $40,243 (38.2% Fibo) is the next decider on what will happen. Many will call it $40,000 as the two levels are close, and I am sure that the market will make a good fight at the level. Perhaps it will win the bear and start moving up, time will tell on that. Even if it didn't win the bears, enough support levels are still present at lover levels to discourage too much falling that can make Bitcoin hit $30,000.

[irsykes]

Yes, this is only a temporary condition due to yesterday's euphoria after the ETF was approved and I admit that it is very complicated to predict the price of Bitcoin correctly in the future, but I am personally optimistic that in the long term, BTC will be able to give birth to new enthusiasm, even though at first glance mass adoption is currently seen as still not enough to encourage Bitcoin. Indeed, technically it is still bullish and a profit-taking moment is also needed to earn more money to accumulate potential coins or tokens.

It is difficult to predict the future, but we have to be optimistic and focus on finding out what conditions are happening so that our assets are under control. Bitcoin shows a correction back to 40k and below, who knows what price it will stop at, but this correction will be the last before the birth of a new ATH. the correction that occurs could possibly reach 30k

The most important thing is that the Bitcoin ETF has been approved, we just have to wait for the reaction of the people who created panic for themselves and the institutions behind the ETF bought according to their plan from the start, namely releasing negative news to the public so they could buy at a discount. Some people are selling their Bitcoin out of panic, in my opinion for the Hodler out there, don't sacrifice Bitcoin for the ETF moment and stay focused on the Halving which has been our tradition for so long. Bearish markets have become commonplace, so there is no longer any need to rely on the impact of ETFs. Gradually the large companies that enter will show their existence in the market during the halving.

ETF are not a problem for me but for people who are afraid of the wallstret of rich people who can create negative news and positive FUD. which makes novice investors who lack knowledge panic sell altcoins, I agree with you but not everyone has the same material determination as those of us who already know the crypto timeline by heart