Bitcoin all time high, is it ETF effects or pre halving cycle

[Alpha Marine]

I honestly never expected Bitcoin to almost surpass the previous ATH within such a short timeframe. On previous speculation threads, a large number of users, including myself, couldn't imagine seeing a new ATH anywhere before late 2024 or early 2025. It seems like everything happened so fast. I was projecting an average price of $50,000 until March or April; it seemed unrealistic to expect something larger than that. Well, I couldn't be more wrong.

We both had the same speculation. When Bitcoin got to 52k, I felt it would linger around that range till the halving, I was so wrong. I'm really surprised Bitcoin is pumping this much, it's been a while since this kind of thing happened with Bitcoin. I'm happy about this anyway.
If the bull run continues till 2025, then the people who speculated a new ATH of $200k may not be wrong, at this rate, BTC will get to $100k this year.
I believe BTC will get to $70k this week and see a new ATH.

I'm curious, though: what's making Bitcoin surge so fast? Is it the upcoming halving, the ETF approval, or possibly both? Even if that's the case, how do you explain such tremendous growth on such short notice?

I think it's both the ETF and the upcoming halving. ETF has created a lot of awareness for Bitcoin in its way and a lot of people are buying because of the fear of missing out. With the Bitcoin price constantly increasing, I believe the demand for Bitcoin will keep increasing and that will in turn keep pushing the price up.

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[wxa7115]

Today bitcoin started the week reaching at $65,000 a near former all time high price, and this new stabilized bitcoin 65k price indices make alot of presumptions and many bitcoin price speculators are in bullish mode to state an obviously possible reality that bitcoin may break the former all time high price (ATH) of $69,000+ previous record before the bitcoin halving cycle to occure.

Although if bitcoin make a new all time high before the next bitcoin halving, it makes it the second time in bitcoin history and chart 📉📈 where bitcoin attain all time high prior few days to the next halving.

The question now is, are we going to see that happening very soon and what is you expected benchmark before the next halving cycle.

Bitcoin and its volatility have once again gone way farther than what my abilities of prediction can foresee, we were close to get a new ATH but were rejected close to it, however after a drop to 66k the price once again went up.

At this point it is difficult to know what it may happen, is there enough buying pressure to surpass the psychological barrier the ATH represents? The answer to that question will decide everything, however taking into account how fast the market has been moving and how excited the community is about it, it seems entirely possible we may see a new ATH before the end of the week.

[EarnOnVictor]

Today bitcoin started the week reaching at $65,000 a near former all time high price, and this new stabilized bitcoin 65k price indices make alot of presumptions and many bitcoin price speculators are in bullish mode to state an obviously possible reality that bitcoin may break the former all time high price (ATH) of $69,000+ previous record before the bitcoin halving cycle to occure.

Although if bitcoin make a new all time high before the next bitcoin halving, it makes it the second time in bitcoin history and chart 📉📈 where bitcoin attain all time high prior few days to the next halving.

The question now is, are we going to see that happening very soon and what is you expected benchmark before the next halving cycle.

What I can say here is that the market is purely dancing to the decisions of speculators, that's the psychology of it in a situation like this. Initially, in 2023, the mood of the year next to halving was the cause of the market's initial excitement in my opinion. This often brings FOMO, so that people will not miss the opportunity of striking the market from a low level. This however initiated bullish candlesticks on the yearly chart in 2023 and the subsequent bullish price action on the monthly chart helped further. Still, Bitcoin wouldn't have achieved this great performance if not for the ETF fillings that brought about high FOMO in the market and helped Bitcoin to breach important resistance levels on virtually all trading strategies on the higher timeframes.

This later causes the market to be bullish in the long-term trend. In this condition, any bearish movements can only be interpreted as a retracement/correction of the long-term disposition. This would get to a point where the whole sentiment of the market would be extremely bullish and volatility would set in. This is what is happening now in Bitcoin.

Above all, this reaction is speculative rather than being initiated by any economic factor like ETF. But of course, the halving expectation is one of the reasons why sentiment remains positive now. This is called the pre-halving effect and it happens depending on the long-term trend of the market, which is bullish in bullish in the case of Bitcoin.

[Lucius]

~snip~
I'm curious, though: what's making Bitcoin surge so fast? Is it the upcoming halving, the ETF approval, or possibly both? Even if that's the case, how do you explain such tremendous growth on such short notice?

I already wrote a lot in the previous post regarding your question, but it's still hard for me to understand that people are so surprised that the price of BTC is rising, which only shows that they don't understand what's actually happening in the background. From the moment the spot ETFs were approved until today, these same funds have bought about 350 000 BTC and that simply has to have an impact on the price, and the halving is just a secondary thing that hasn't happened yet and probably won't show any effects in the first months after it happens.

We have new players in the game, and they are powerful, and have more money under their control than many countries in the world. Given that we have been preparing for this moment for years, it is really strange that many are surprised that the price of BTC is rising before the halving, which will become more and more irrelevant as time goes on.

[Sim_card]

From the look on how the price of bitcoin is skyrocketing, the price might price the previous ATH by the end of next week. This is because if you look at the price movement for two weeks ago, it has being going up in a way that it is unimaginable. I believe that, it is the approval of bitcoin ETF that is causing the pump, because last year before the approval of bitcoin ETF this year January, it was everywhere and most investors knows that once the ETF is approved, bitcoin price will skyrocket making it to pass the previous ATH, but no one expected to see this before the halving. We might see a price of 70k before the halving.

[davis196]

Today bitcoin started the week reaching at $65,000 a near former all time high price, and this new stabilized bitcoin 65k price indices make alot of presumptions and many bitcoin price speculators are in bullish mode to state an obviously possible reality that bitcoin may break the former all time high price (ATH) of $69,000+ previous record before the bitcoin halving cycle to occure.

Although if bitcoin make a new all time high before the next bitcoin halving, it makes it the second time in bitcoin history and chart 📉📈 where bitcoin attain all time high prior few days to the next halving.

The question now is, are we going to see that happening very soon and what is you expected benchmark before the next halving cycle.

The Bitcoin market has been crazy in the last 4 months. Back in October 2023, the price was around 27K USD and now the price is 66,8K USD
I can't imagine Bitcoin being so close to a new ATH before the halving. I was expecting a new ATH several months after the 2024 halving. I guess that the ETFs approvals and the pre-halving hype are both contributing for the creation of the current FOMO phase. Bear in mind that such big price pumps are usually followed by big price corrections. I'm expecting a price crash several weeks before the halving. So far, 2024 has been extremely bullish for Bitcoin, but the bears on the market might have the opportunity to enjoy a big price crash.

[Ultegra134]

I already wrote a lot in the previous post regarding your question, but it's still hard for me to understand that people are so surprised that the price of BTC is rising, which only shows that they don't understand what's actually happening in the background. From the moment the spot ETFs were approved until today, these same funds have bought about 350 000 BTC and that simply has to have an impact on the price, and the halving is just a secondary thing that hasn't happened yet and probably won't show any effects in the first months after it happens.

We have new players in the game, and they are powerful, and have more money under their control than many countries in the world. Given that we have been preparing for this moment for years, it is really strange that many are surprised that the price of BTC is rising before the halving, which will become more and more irrelevant as time goes on.

I also remember discussing it a few weeks before the ETF approval on another thread, and a while later, we mentioned how the ETF approval hasn't had any major surges in price. With that being said, I understand why it has skyrocketed now; however, just two months ago, the price was below $40,000, and now we're heading towards a new ATH. It seems like things are moving too fast, and I was certainly not speculating that this would happen in such a short timeframe.

On the other hand, I'm a little disappointed, because accumulating now is a lot harder than it was a few months ago, but anyway, there's no point in whining. I'm just a little surprised, as it all happened so fast.

[onecall123]

Today bitcoin started the week reaching at $65,000 a near former all time high price, and this new stabilized bitcoin 65k price indices make alot of presumptions and many bitcoin price speculators are in bullish mode to state an obviously possible reality that bitcoin may break the former all time high price (ATH) of $69,000+ previous record before the bitcoin halving cycle to occure.

Although if bitcoin make a new all time high before the next bitcoin halving, it makes it the second time in bitcoin history and chart 📉📈 where bitcoin attain all time high prior few days to the next halving.

The question now is, are we going to see that happening very soon and what is you expected benchmark before the next halving cycle.

In recent days, I've been observing the wild ride of Bitcoin. With the upcoming April 2024 halving event, Bitcoin's bull runs are gaining momentum. Many traders are expected to join the new spot ETFs market. The global influence of cryptocurrency is clear. Those are thinking about investing, now's the time to start. Newcomers are essentially buying from those who are already making a profit. Bitcoin has surged past $68,600 and seems poised to reach a new all-time high. It'll be interesting to see what happens by the end of the month. I'm feeling optimistic; we might see a new record-breaking price.

[Lida93]

The surge in rise of bitcoin price as we are experiencing is not basically due to the halving but ETF. No doubt there could be a 30% effect from the halving circle but an 70% is resulting from the ETF, something of a double stimulant . Before the approval, a lot of persons had always thought that the effect of the  ETF approval was going to be felt on bitcoin price  immediately it got approved but when it wasn't doing anything to the price of bitcoin as at when they had expected owing to it's approval people's expectations started lowering but as time may have it we are feeling the effect today and it's possible that an ATH might be met before the halving as the price  momentum is already showing the signs.

[YUriy1991]

exactly as you said, it is true that this has happened before also meaning it happened earlier before the halving and the market volume/cap (24 hours) was
5.76% is quite good and it looks like preparations are now heading towards the 70K mark.

I think it's difficult to predict with certainty. yes. we just have to wait for the market response where more and more people will come to buy BTC, whether from ordinary buyers, large financial institutions or other companies, so it will be easy for us to read and measure market interest and Bitcoin price movements as a consideration for our investment before the halving comes. within the next 47 days.

[justdimin]

exactly as you said, it is true that this has happened before also meaning it happened earlier before the halving and the market volume/cap (24 hours) was
5.76% is quite good and it looks like preparations are now heading towards the 70K mark.

I think it's difficult to predict with certainty. yes. we just have to wait for the market response where more and more people will come to buy BTC, whether from ordinary buyers, large financial institutions or other companies, so it will be easy for us to read and measure market interest and Bitcoin price movements as a consideration for our investment before the halving comes. within the next 47 days.

I do agree that it is not something we could really guess or see, it is not something that will take time. I believe that the best thing to do in this case would be just letting the market do its magic and we could just make sure that we are dealing with it later on. If you just buy and hold, then you are going to end up with a greater result one way or another.

I hope that it gets to a point where we could make some money from it, but that will take some time so we should be able to wait for it. There are some people who say they can wait for it, and then they end up with not waiting for it which results with horrible results, so make sure that you are capable of keeping your money for months, otherwise you may end up losing money.

[CryptoBuds]

I honestly never expected Bitcoin to almost surpass the previous ATH within such a short timeframe. On previous speculation threads, a large number of users, including myself, couldn't imagine seeing a new ATH anywhere before late 2024 or early 2025. It seems like everything happened so fast. I was projecting an average price of $50,000 until March or April; it seemed unrealistic to expect something larger than that. Well, I couldn't be more wrong.

We both had the same speculation. When Bitcoin got to 52k, I felt it would linger around that range till the halving, I was so wrong. I'm really surprised Bitcoin is pumping this much, it's been a while since this kind of thing happened with Bitcoin. I'm happy about this anyway.
If the bull run continues till 2025, then the people who speculated a new ATH of $200k may not be wrong, at this rate, BTC will get to $100k this year.
I believe BTC will get to $70k this week and see a new ATH.

Once called a prediction, there will be right and wrong and mostly wrong because we don't have a crystal ball to know anything about the future. I was also steadfast in my opinion that history would repeat itself and there would be no way for bitcoin to make a new ATH before the halving but I was also wrong. And as I go through what happened this time, I see more and more that a long-term investment approach is always the best approach when it comes to bitcoin. Because no one can predict or know in advance what will happen, everything is always a surprise that we never thought of.

I'm curious, though: what's making Bitcoin surge so fast? Is it the upcoming halving, the ETF approval, or possibly both? Even if that's the case, how do you explain such tremendous growth on such short notice?

I think it's both the ETF and the upcoming halving. ETF has created a lot of awareness for Bitcoin in its way and a lot of people are buying because of the fear of missing out. With the Bitcoin price constantly increasing, I believe the demand for Bitcoin will keep increasing and that will in turn keep pushing the price up.

I think the impact of the ETF is bigger because in previous years we also had halvings, but bitcoin has never increased strongly and created an ATH before the halving. But this time with the presence of ETFs, things are changing.

[Lucius]

~snip~
On the other hand, I'm a little disappointed, because accumulating now is a lot harder than it was a few months ago, but anyway, there's no point in whining. I'm just a little surprised, as it all happened so fast.

After years in a bear market and waiting for positive news, we who have been with Bitcoin for a long time really shouldn't be upset because Bitcoin is more expensive today than it was 2 months or 2 years ago - we had more than enough time to buy at prices even below $20 000, not to mention how long we've been below the $40 000 level.

You should always look at things from a more positive angle, because let's say everything you accumulated during the last 2 years is worth up to 4 times more and that's a great thing if we know what interest rates are in banks and how much inflation was during that period. Also, everything you buy today will probably be worth twice as much this year - which is certainly a good reason to be optimistic.

[Alpha Marine]

And as I go through what happened this time, I see more and more that a long-term investment approach is always the best approach when it comes to bitcoin.

This is something a lot of people take for granted. Bitcoin offers so much more and people are not taking advantage of it. Bitcoin makes it much easier for people to have an investment. It's actually one of the best forms of long-term investments. With Bitcoin, it can be a savings and also an investment. Imagine saving a percentage of your earnings every month for the next 4 years.

It's advisable for people to take advantage of the next bear market and buy BTC at lower prices. Knowing BTC it would be very difficult to predict how low it would get this time around but I believe if everything stays normal it won't get lower than $20k this time around.

[wiss19]

The question now is, are we going to see that happening very soon and what is you expected benchmark before the next halving cycle.

Yes, we are going to see that happening considering the pace at Bitcoin's price is moving forward, and I believe we are going to see a significantly higher price than the previous all-time high before the halving event because we are still about more than 40 days behind the halving event.

First, we thought Bitcoin wasn't going to cross $40k so quickly, but it did. Then we thought there was no way it was going to cross $50k this soon, but it did it again. Now, we were not at all expecting it to cross $60k even before the halving but it did and went around $69k and I'm pretty sure that it is going to cross that as well pretty soon, and then the next target for it would be 80k before the halving. It has been a crazy run, this time around.

[Oasisman]

The surge in rise of bitcoin price as we are experiencing is not basically due to the halving but ETF. No doubt there could be a 30% effect from the halving circle but an 70% is resulting from the ETF, something of a double stimulant . Before the approval, a lot of persons had always thought that the effect of the  ETF approval was going to be felt on bitcoin price  immediately it got approved but when it wasn't doing anything to the price of bitcoin as at when they had expected owing to it's approval people's expectations started lowering but as time may have it we are feeling the effect today and it's possible that an ATH might be met before the halving as the price  momentum is already showing the signs.

Basically yes, and yes, both the pre halving and ETF has contributed to this pump. Most probably, the ETF may have higher contributions to this pump because pre halving was not known to make a run that gets us closer to the most recent ATH, it usually comes from the post halving where the peak of the bullrun happens after several months after the halving and it happened of 3 consecutive halvings already.
The bitcoin spot ETF approval does really made an impact but it was very short that it looks like it didn't make any impact in the market at all, not until almost 2 months after it was being approved. We also can't deny the fact that the bitcoin halving have ignited the pump even more, so I cannot tell whether or not there's a huge difference between ETF vs the halving's (like the 70-30 you mentioned) impact to the market today. Nevertheless, it doesn't really matter who contributed the most, what's more important is we'll be seeing another ATH a lot greater than $69k sooner. 

[Ultegra134]

After years in a bear market and waiting for positive news, we who have been with Bitcoin for a long time really shouldn't be upset because Bitcoin is more expensive today than it was 2 months or 2 years ago - we had more than enough time to buy at prices even below $20 000, not to mention how long we've been below the $40 000 level.

You should always look at things from a more positive angle, because let's say everything you accumulated during the last 2 years is worth up to 4 times more and that's a great thing if we know what interest rates are in banks and how much inflation was during that period. Also, everything you buy today will probably be worth twice as much this year - which is certainly a good reason to be optimistic.

I'm not sure if upset is the right word here, but we had plenty of time and opportunities to acquire more Bitcoin. The bear market lasted quite long, with prices even below $20,000 that lasted months. Opportunities were endless, but unfortunately, I wasn't in the best situation to purchase and stuck to signature campaign earnings. I guess you're right about my approach; the truth is that with an average purchase price of $29,000, I've more than doubled my money and will possibly even triple it in the near future.

The only thing I'm missing is earning more than 3 mBTC per week. Due to the lower value, accumulation was a lot faster than it is now, but that's okay.

[naikturun]

I think if bitcoin reaches a new ATH before the halving this will be the first because in 2017 and 2021 bitcoin reached ATH when it was past the halving period, if this happens will there be a very high mass increase, I mean there will be a lot of money flowing in the crypto market.

[rodskee]

I think if bitcoin reaches a new ATH before the halving this will be the first because in 2017 and 2021 bitcoin reached ATH when it was past the halving period, if this happens will there be a very high mass increase, I mean there will be a lot of money flowing in the crypto market.

if you happened to MISSED THE 2 DAYS MARKET CHART i will share here for you

All-time high
Mar 05, 2024 (2 days ago)
$69,170.63

that is what CoinmarketCapitalization recorded 2 days ago  meaning what you are talking
here have already happened and yeah we have broken the record of having ATH before halving .

[CageMabok]

I think if bitcoin reaches a new ATH before the halving this will be the first because in 2017 and 2021 bitcoin reached ATH when it was past the halving period, if this happens will there be a very high mass increase, I mean there will be a lot of money flowing in the crypto market.

Right now there is a lot of money entering and flowing into the crypto market due to the increase in Bitcoin prices which makes almost everyone really want to buy Bitcoin with the money they have. I also think that Bitcoin could make a new ATH before the halving occurs and this is a very extraordinary thing for Bitcoin this year which will also be a new history that has never happened before in Bitcoin. Because this year Bitcoin only needs to be at $69,500 to set a new ATH before the halving time arrives.