Bitcoin ETF Approval; Price dumps, what Next?

[dewcanon]

How can it be at the $30k mark if the mining price, after halving, will be $36k? I believe we might see Bitcoin surpassing the $30k threshold if something significant occurs again with top crypto markets, such as Binance.

[borovichok]

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.

Bitcoin ETF was expected to partially tackle the No. 1 problem by increasing adoption; the more demand, the higher the price increase. We've reached the point where no one needs to knock on the door of the next-door neighbor to introduce them to Bitcoin; we're meant to be at the point where people come to Bitcoin. As a community, I believe we are not raising enough awareness to solve the case of number 1.

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

Price down= Panic sell. ( Buy high , Sell Low). My crappy rules. 

[apogio]

Bitcoin ETF was expected to partially tackle the No. 1 problem by increasing adoption; the more demand, the higher the price increase. 

Well, yes, but in theory. I mean it is expected to let people know about bitcoin, but not to increase its value if people buy shares of the ETF.

Imagine the ETF provider A, who owns 1,000,000 (1M) bitcoins and they provide 1,000,000,000 (1B) shares to the customers.

So we have 1B shares of 0.001 BTC each.

Theoretically, they are not allowed to trade the underlying asset of the shares that belong to customers. They are allowed, however to sell Bitcoin that is not sold (in the form of shares to customers), or buy more bitcoin and create more shares.

So, the actual trades, that would lead bitcoin's price higher (or lower) depend on them.

[SquirrelJulietGarden]

Think far with Bitcoin halving next three months and think farther with possible QEs from FED.

CME FED watch tool.

Most of analysts predict that FED will make QEs around and after September 2024. When FED releases new QEs, money will be abundant and people will have more money to invest again. There will be no other more attractive market for them to spend money than Cryptocurrency market. Those companies with approved Bitcoin Spot ETFs will contribute to hype the market. They want profit, they have to contribute to bring more people to spend money in this market.

[peter0425]

As the title suggests, we have all been waiting for this period for a long time, and it has finally here, yet the price of BTC remains low despite the high spot ETF Bitcoin trading volume. We were led to expect that the price would increase upon SEC approval, but the contrary is now happening.  What now?

Day 1. Trading volume as reported on multiple meanstrem.

But that is what we need now , the next step is to   buy more and accumulate as much as we  can so there is no way we missed the Bull effect of ETF.

just don't get too  eager because time will come and investors or those Big institutions will make their way as now they are being allowed to own big chunks of bitcoins.

[bbc.reporter]

The price might be dumping after ETF approval but we also have some good news about uncle Gary hehehe. We can find some time for laughing and being entertained from all these news updates while waiting for the inflows to return on the market hehe.

If something similar occured on Wall Street and the traditional finance markets, I reckon the government would be making louder demands for the impeachment of uncle Gary.



Securities and Exchange Commission (SEC) Chair Gary Gensler is facing bipartisan political backlash after the agency’s social media account was hacked last week and falsely claimed it had approved several highly anticipated bitcoin investment funds.

While the SEC ultimately approved the exchange-traded funds (ETFs) holding bitcoin about 24 hours later, the high-profile blunder for the agency puts Gensler in a tough spot as an already unpopular figure in the cryptocurrency world and among Republican lawmakers.

And some Democrats who have been generally pleased with Gensler are joining calls for investigations.
“Mainly, it was embarrassing for the SEC,” Ian Katz, managing director at research consultancy Capital Alpha Partners, told The Hill.

“It’s given ammunition to Gensler’s enemies and his opponents and people in Congress who don’t like him to begin with,” he added.

Source https://thehill.com/business/4411825-sec-gensler-face-bipartisan-backlash-over-x-account-hack/

[bbc.reporter]

In addition to Grayscale dumping bitcoin after the approval of the spot ETF for bitcoin, there is another bearish news coming from Asia. According to this article, South Korea, Singapore, Thailand and Taiwan made an unprecedented move to block ETFs from being traded in their jurisdictions.

How much yearly investments in total do these Asian countries bring to the ETF market in America?



For all the excitement greeting the approval of Bitcoin ETFs this month, there was one group that was underwhelmed by the breakthrough offerings — Asian regulators.

No sooner had exchange traded funds from Fidelity, Ark Invest, and BlackRock’s iShares unit hit the market in early January than finance watchdogs in South Korea, Singapore, and Thailand warned brokerages not to let their clients invest in the overseas offerings.

Moreover, Taiwanese regulators said that indices tracked by ETFs must comprise “securities,” which doesn’t include Bitcoin under the island nation’s rules.

Blocking funds cleared by the US Securities and Exchange Commission surprised market players. Asia is the fastest growing ETF market in the world, and usually regulators wave funds through with little fuss.

“Outright bans of US-approved ETFs are basically unprecedented,” said Jason Titman, the COO of Swyftx, an Australian crypto exchange. “It’s a bold move by these jurisdictions and it’s difficult to unpick the logic.”

Source https://www.dlnews.com/articles/regulation/south-korea-singapore-and-thailand-block-bitcoin-etfs/

[tread93]

Its definitely going to be fun to watch the corporate adoption and what the end amonts will be in all these new ETFs in one years time. I look forward to seeing this next cycle follow through. Right now the ETF didn't quite have the ramp up that everyone was expecting so I am guessing it is more of a let down for most of those folks because they are already straight into the negative basically from day one. Its going to take quite a while for this big institutional money to come into play, good thing time is on Bitcoins side, it is only a matter of time.