Was Bitcoin ETF really a good thing for growth of crypto and Bitcoin prices?

[avp2306]

I see a lot of threads here saying that now that Bitcoin ETFs are approved, it will boost the Bitcoin prices. However, that has not happened in last few days.

I researched more about it and came to know about this new point of view regarding this Bitcoin ETF. According to this point of view, Bitcoin  ETF has made Bitcoin mainstream. It has become something like regulated and as a result the premium effect is gone. Because of this, there will not be that much volatility in prices now and thus the returns it gave in past are now not possible. Do you agree with this point to view?

Here is a link discussing the same thing
https://www.moneycontrol.com/news/business/wire-news/crypto-is-going-mainstream-which-means-its-over-12135721.html/amp

Don't look for short term changes since we can't get any instant effect from it since maybe people just got satisfied with what they saw and also you should consider the other things happening on why the price collapsed despite of ETF approval announcement happen. Just think about long term effect that it could bring since looking at current condition now where ETF has been approve it can generate new demand for those people trading it and might in long term we can get additional solid support coming from new players in the market.

Also we can't expect any instant growth after that and it proves that we can't expect anything huge once there's a good announcement made so a proper market monitoring is important especially if we are trying to trade for short term and try to have a good exit so we will not regret for not taking any action while there's hot thing happen in the market.

[Fundamentals Of]

I'm not sure how the approval of a Bitcoin spot ETF would make an impression to the majority of the people. But more than anything else, I hope that it made people take Bitcoin seriously. That's enough for a start. The approval happened in the US, but those who read about it are coming from all countries around the world. These people would start getting to know Bitcoin. They would learn how to buy and keep real Bitcoin. And they won't be buying from BlackRock, ARK Invest, Franklin Templeton, etc because they can't. They would do the buying in the most convenient way possible from where they are. They might decide to buy the real one.

[kotajikikox]

I see a lot of threads here saying that now that Bitcoin ETFs are approved, it will boost the Bitcoin prices. However, that has not happened in last few days.

I researched more about it and came to know about this new point of view regarding this Bitcoin ETF. According to this point of view, Bitcoin  ETF has made Bitcoin mainstream. It has become something like regulated and as a result the premium effect is gone. Because of this, there will not be that much volatility in prices now and thus the returns it gave in past are now not possible. Do you agree with this point to view?

Here is a link discussing the same thing
https://www.moneycontrol.com/news/business/wire-news/crypto-is-going-mainstream-which-means-its-over-12135721.html/amp

everyone is entitled to its own opinion and judgement , who are these people that talks such ? do they really understand the market or they are just having their own  intention saying these?

many of them wanted the price drops again so they can purchase in cheaper prices lol.

[Synchronice]

I see a lot of threads here saying that now that Bitcoin ETFs are approved, it will boost the Bitcoin prices. However, that has not happened in last few days.

I researched more about it and came to know about this new point of view regarding this Bitcoin ETF. According to this point of view, Bitcoin  ETF has made Bitcoin mainstream. It has become something like regulated and as a result the premium effect is gone. Because of this, there will not be that much volatility in prices now and thus the returns it gave in past are now not possible. Do you agree with this point to view?

Here is a link discussing the same thing
https://www.moneycontrol.com/news/business/wire-news/crypto-is-going-mainstream-which-means-its-over-12135721.html/amp

I agree with the moneycontrol's article title with one hundred percent. It's going mainstream, that means it's getting regulated and seriously controlled, in a level that all  services will soon be forced to exclude Monero payments, some of them already exclude it. The worst thing that can also happen is miners being forced to implement the filtration of blockchain analysis companies and filter which transaction to include and which to exclude. Mining is also getting so centralized that I am afraid that might happen.

Overall, Bitcoin ETF is a positive news for Bitcoin in terms of price increase. When a huge amount of money flows into Bitcoin and demand significantly grow, that will definitely happen over time with Bitcoin ETF, price will significantly increase, it will be higher than it would be with only Bitcoin halving events. But it's bad for those who want to use Bitcoin for purely P2P payments and I already explained that above.

[DeathAngel]

It may not be apparent yet but the etfs will have a big effect on the price. These things don’t happen immediately but billions, if not trillions of usd will flow into them over the next decade. Now that Bitcoin is essentially a mainstream financial commodity, asset managers will be pushing people to invest. It’s going to be huge, you just need to be patient, these things don’t happen overnight. The etf providers are buying more daily than the amount of coins that are mined daily. It’s only a matter of time before supply shock & huge pump.

[KiaKia]

I don't even know, the only good thing I see here is confidence in the heart of people, those who believe that the government will never have anything to do with crypto are not confused because of the ETF approval, but in the past days these companies have dumps good numbers of Bitcoin, maybe they did that to cause a panic or massive price action? I don't know either.

Also it seems like we are still early to start thinking about what will happen, it's not even long that the ETF is approved, maybe we should give it time and see? Black Rock is my own main concern though, because those people always tend to take control of everything.

I have a feeling that this bull market will probably be the best last one, as the SEC will eventually find new ways to force crypto projects to bow down to the regulators just like casinos, but it's impossible with Bitcoin now, if I am a crypto developer I will just walk the same path as Satoshi Nakamoto, go completely anonymous.

[pinggoki]

With the lackluster effect that it gave to the market and the mixed feelings by a lot of people about the ETF approval, I just like to think about what's happened to be a thing where it attracts more people that don't know about bitcoin and would get curious about it, it only takes one of them to be curious about it and they're going to be telling things about bitcoin to their friends too and how it's a good investment, it's a chain reaction so even if ETF fails, the recognition that it gives is still a big deal for bitcoin.

[kryptqnick]

The website just doesn't scroll for me, unfortunately, so I can't read the article. But I've tried to read it (not sure if I read all of it because those were copies elsewhere, but maybe I did) on other websites.
It's a Bloomberg Opinion piece, and it seems like the idea is that Bitcoin is at its peak with the ETF approval, and then it stops becoming a major topic, stops getting the same level of attention. Bitcoin stops being this anti-establishment phenomenon, loses its appeal, and it sort of becomes a bad asset (bad, because it's not backed up by anything), which might still see a few price spikes but will get worse.
I don't know, I don't think that's true. I do believe that Bitcoin will continue growing, as it always does, and new accessibility of Bitcoin brings new demand, new interest in it.

[kentrolla]

Indeed, it's a good thing as this will result in more adoption of Bitcoin even those who were reluctant to use Bitcoin would give it a try and thus it would increase the demand but we have not seen the price movement like how it was expected but the goodness for Bitcoin due to ETF approval is adoption rate and it makes Bitcoin more mainstream as it would create more curiosity on people's mind about Bitcoin because some people consider it as bubble but after SEC approval of spot ETF for Bitcoin they will be convinced it's not a ponzi or bubble.

[Yamane_Keto]

With or without an ETF, Bitcoin adoption will increase at a good pace, but with an ETF, that pace will be accelerated. We already have ETFs that have been approved in the past, but everything has negative aspects, the most important of which is that more Bitcoin will be transferred to institutional funds, which are central authorities, and some will view Bitcoin as an investment and stock instead of a means. Payments eliminate the need for a third party. ETFs are bad in terms of Bitcoin's philosophy but could push adoption and prices higher.

[yhiaali3]

I don't agree with this point of view, there are a lot of reasons why Bitcoin fell after the approval of the ETF.

Approval could help regulate and stabilize the market more, but it is not true that it is no longer possible to make more profits like before. On the contrary, I expect that the coming days will witness a significant rise in Bitcoin, especially with the approach of halving. We have already begun to see the beginnings of this rise and we are waiting for more. in the coming days.
Volatility is still there now and there is more manipulation.

[Coyster]

I see a lot of threads here saying that now that Bitcoin ETFs are approved, it will boost the Bitcoin prices. However, that has not happened in last few days.

It has not happened yet, but it does not mean that it is not going to happen. The mistake here is that quite a lot of people want to make money so quickly from Bitcoin, so they expect the pump to happen as soon as the spot ETF's were approved, so they can make ROI and sell off immediately. The approval of Bitcoin spot ETF's will boost the price of Bitcoin, but it is not going to happen in the short term.

Having said that, the ETF approval will push Bitcoin towards centralization, because these centralized institutions are going to hodl large amount of Bitcoins, and people who buy Bitcoin through them are not actually buying Bitcoin but just iou's, and that is the wrong way to buy Bitcoin, because it is a decentralized network/currency.

[shield132]

I don't agree with this point of view, there are a lot of reasons why Bitcoin fell after the approval of the ETF.

Approval could help regulate and stabilize the market more, but it is not true that it is no longer possible to make more profits like before. On the contrary, I expect that the coming days will witness a significant rise in Bitcoin, especially with the approach of halving. We have already begun to see the beginnings of this rise and we are waiting for more. in the coming days.
Volatility is still there now and there is more manipulation.

There aren't many reasons why Bitcoin fell after the spot ETF approval because Blackrock applied for the spot Bitcoin ETF event had a very positive impact on Bitcoin's price. Hype and positive expectations were so big that it pushed the price up to 45K USD and this was because people were betting on the possible approval outcome. If we follow logic, we should predict further price pump after the actual ETF approval event because it reached 45K not because it happened but because people were risking that outcome would be positive. Then out of nowhere, the price went down and there aren't many reasons why it went down at the moment when it should have gone insanely high. Someone even donated 1 million USD to Satoshi's Bitcoin address. There are many things that don't make sense after ETF approval.

[CryptoBuds]

I don't agree with this point of view, there are a lot of reasons why Bitcoin fell after the approval of the ETF.

Approval could help regulate and stabilize the market more, but it is not true that it is no longer possible to make more profits like before. On the contrary, I expect that the coming days will witness a significant rise in Bitcoin, especially with the approach of halving. We have already begun to see the beginnings of this rise and we are waiting for more. in the coming days.
Volatility is still there now and there is more manipulation.

There aren't many reasons why Bitcoin fell after the spot ETF approval because Blackrock applied for the spot Bitcoin ETF event had a very positive impact on Bitcoin's price. Hype and positive expectations were so big that it pushed the price up to 45K USD and this was because people were betting on the possible approval outcome. If we follow logic, we should predict further price pump after the actual ETF approval event because it reached 45K not because it happened but because people were risking that outcome would be positive. Then out of nowhere, the price went down and there aren't many reasons why it went down at the moment when it should have gone insanely high. Someone even donated 1 million USD to Satoshi's Bitcoin address. There are many things that don't make sense after ETF approval.

Suppose, if bitcoin increases sharply right after the ETF is approved and many people will sell to take profits, who will buy those bitcoins at a high price? I don't think the big funds and market makers would be stupid enough to push bitcoin to $45k or $48k or more and buy them at high prices.

Why don't we think that funds and market makers knew in advance that the news of an ETF would be approved and that they quietly bought bitcoin in large quantities beforehand? And when the official news is released, it will be time for them to sell to take profits. They are also investors like us, they all want profits, they don't spend time praising bitcoin or flattering it if they can't profit from it.

So there is no reason for bitcoin to decline when the ETF is approved, simply because it is "buy the rumor, sell the news".

[Nrcewker]

Bitcoin is already popular and well-known, but ETFs can bring in money from new people who are afraid of how bitcoin works. The more popular and the more new money comes in, the better for us who were here before them all

Yes, if more new people join the Bitcoins world, then it will increase the demand to accumulate the Bitcoins. As the demand will increase, the price has to go up in order to meet the demands. This will follow the basic economics of supply and demand. Hence for this reason we were seeing many threads related to this. Sadly the impact isn’t as big as it was speculated. But still we shouldn’t lose hope. Something big is really very near.

[AakZaki]

Yes, if more new people join the Bitcoins world, then it will increase the demand to accumulate the Bitcoins. As the demand will increase, the price has to go up in order to meet the demands. This will follow the basic economics of supply and demand. Hence for this reason we were seeing many threads related to this. Sadly the impact isn’t as big as it was speculated. But still we shouldn’t lose hope. Something big is really very near.

Waiting for something big also requires extra patience, we are already close and it will happen soon. it's not just about ETFs that will provide good growth for the market, but more people coming in and investing in Bitcoin will make the market more crowded. I waited with a fairly full bag.

[Davian144]

everyone is entitled to its own opinion and judgement , who are these people that talks such ? do they really understand the market or they are just having their own  intention saying these?

many of them wanted the price drops again so they can purchase in cheaper prices lol.

Apart from each person having the right to express their own opinion on various things, we also need to look at the person's wishes. Because it is also logical that some people are still hoping that the price decline will occur again so that they can buy it at a low price and then will also return to hope that the next increase can occur again in Bitcoin. For me it is a very normal thing even though we don't have to immediately believe what other people say about anything.

[yhiaali3]

Why don't we think that funds and market makers knew in advance that the news of an ETF would be approved and that they quietly bought bitcoin in large quantities beforehand? And when the official news is released, it will be time for them to sell to take profits. They are also investors like us, they all want profits, they don't spend time praising bitcoin or flattering it if they can't profit from it.

I do not know if they knew in advance of the approval, but I know for sure that they bought large amounts of Bitcoin before obtaining the approval. This is certain news, and this is what led to the market rising before the approval.

I said in a previous topic that the approval of the ETF will not have a significant impact on the market because the impact has already occurred and these companies have purchased large amounts of Bitcoin and are awaiting the official approval.

Yes, these are investment companies whose primary concern is profit, regardless of whether they believe in Bitcoin or not.

[Mauser]

I researched more about it and came to know about this new point of view regarding this Bitcoin ETF. According to this point of view, Bitcoin  ETF has made Bitcoin mainstream. It has become something like regulated and as a result the premium effect is gone. Because of this, there will not be that much volatility in prices now and thus the returns it gave in past are now not possible. Do you agree with this point to view?

That's definitely not true, Bitcoin was mainstream long before the ETF hype. I would say during the last big bill run where bitcoin achieved it's ATH, it was already mainstream. Every newspaper had articles about crypto, every person spoke about it. ETFs now is just another form to invest in crypto currencies, people who are buying ETFs are not going to buy bitcoins directly. There are some advantages to ETFs, because it will take pressure of the spot bitcoin market and make transferring ownership easier. In times of high transaction cost it can be helpful for people that want to trade quickly without paying much fees. With some broker not charging any transaction fees it could become cheaper to trade. And for the ETF company nothing is changing, they don't have to buy or sell bitcoin, just change the name of the owner. I still think there will be high volatility in the market, because nobody knows what 1 bitcoin should be worth.

[Manlikefrank1]

I see a lot of threads here saying that now that Bitcoin ETFs are approved, it will boost the Bitcoin prices. However, that has not happened in last few days.

I researched more about it and came to know about this new point of view regarding this Bitcoin ETF. According to this point of view, Bitcoin  ETF has made Bitcoin mainstream. It has become something like regulated and as a result the premium effect is gone. Because of this, there will not be that much volatility in prices now and thus the returns it gave in past are now not possible. Do you agree with this point to view?

Here is a link discussing the same thing
https://www.moneycontrol.com/news/business/wire-news/crypto-is-going-mainstream-which-means-its-over-12135721.html/amp

ETFs are designed to allow more people to invest in Bitcoin without the necessary expenses and hassles of buying them directly. They eliminate the need for security procedures and excessive funds while providing a familiar investment trade in the crypto space market.