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We are going through an extremely important week: it is expected that this week, information about the fate of BTC Spot ETF will be announced. This could be an important event in the history of Bitcoin, when Bitcoin will be accepted by major funds in US, the largest economy in the world.
Similar to what happened with the Gold Spot ETF: after it was approved, gold prices rose sharply for many years.
(https://www.tradingview.com/x/CkCh3XQE/)
I expect that this will also happen with BTC price once the BTC Spot ETF is approved.
Some analysts say that there is still a possibility that BTC Spot ETF will be delayed until March by SEC to limit investor FOMO right now, and this could be the reason why BTC price corrected after many months of recovery. Very good costume from $15K to $45K.
Personally, I believe that BTC Spot ETF will be approved, simply because SEC does not dare to confront large funds like BlackRock or Fidelity in court. SEC also recently published a post reminding investors not to get too FOMO into crypto. It sounds like it's their "denial".
The deadline for SEC to announce the final decision is approaching, what is your assessment of the possibility that BTC Spot ETF will be approved? Do you think its impact on the crypto market will be positive or negative?
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UPDATE: SEC Aaproves the 1st BTC spot ETF in US 🚀🚀🚀
SEC has finally approved BTC Spot ETF in US, a major milestone for our crypto market. This decision comes after years of denials and it is expected to have a significant impact on market: increased institutional investment in BTC and could help to legitimize BTC as a mainstream asset class[1].
Congratulations BTC and crypto community. Finally, after 10 years, we have BTC Spot ETF and BTC escapes the "scam" accusations from many investors in traditional market. A new era has opened!
I think it's time for us to wait for ETH Spot ETF and XRP Spot ETF 8)
[1] Spot Bitcoin ETF receives official approval from the SEC (https://cointelegraph.com/news/sec-spot-bitcoin-etf-approvals)
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Can you provide the direct link because I've checked their site and even other urls seem working but I checked the blog you and the status as at the time of the blog update was 404 which mean that particular page is down ....
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Can you provide the direct link because I've checked their site and even other urls seem working but I checked the blog you and the status as at the time of the blog update was 404 which mean that particular page is down ....
Please check links:
Cointelegraph: https://cointelegraph.com/news/sec-spot-bitcoin-etf-approvals
CoinDesk: https://www.coindesk.com/business/2024/01/10/bitcoin-etfs-win-sec-approval-bringing-easier-access-to-biggest-cryptocurrency/
Decrypt: https://decrypt.co/210763/bitcoin-etf-approved-sec
BeInCrypto: https://beincrypto.com/bitcoin-etf-approved-sec/
TheBlock: https://www.theblock.co/post/271324/the-sec-said-it-has-approved-proposals-for-spot-bitcoin-etfs-on-an-accelerated-basis
TheDefiant: https://thedefiant.io/sec-approves-spot-bitcoin-etfs-in-historic-decision
cryptoslate: https://cryptoslate.com/sec-approves-spot-bitcoin-etfs-after-11-years-of-rejections/
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Can you provide the direct link because I've checked their site and even other urls seem working but I checked the blog you and the status as at the time of the blog update was 404 which mean that particular page is down ....
Please check links:
Cointelegraph: https://cointelegraph.com/news/sec-spot-bitcoin-etf-approvals
CoinDesk: https://www.coindesk.com/business/2024/01/10/bitcoin-etfs-win-sec-approval-bringing-easier-access-to-biggest-cryptocurrency/
Utoday: https://no link shorteningday/breaking-sec-officially-approves-spot-bitcoin-etfs-btc-price-unfazed
Decrypt: https://decrypt.co/210763/bitcoin-etf-approved-sec
BeInCrypto: https://beincrypto.com/bitcoin-etf-approved-sec/
TheBlock: https://www.theblock.co/post/271324/the-sec-said-it-has-approved-proposals-for-spot-bitcoin-etfs-on-an-accelerated-basis
TheDefiant: https://thedefiant.io/sec-approves-spot-bitcoin-etfs-in-historic-decision
cryptoslate: https://cryptoslate.com/sec-approves-spot-bitcoin-etfs-after-11-years-of-rejections/
Okay going through it now, you might need to check any space disruption in the third link
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Now that approval has been made, what next inline for move, is this going to triggers the market price more higher or there is not going to be something we should expect for now, it seems that so many of the altcoins markets and bitcoin altogether we're rising a d pumping, this may be a season of high volatility when what we expect is what we are seing and we must therefore be very careful in our investment in other not to miss out any opportunity meant for us to take in at the cause of this period.
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Now that approval has been made, what next inline for move, is this going to triggers the market price more higher or there is not going to be something we should expect for now, it seems that so many of the altcoins markets and bitcoin altogether we're rising a d pumping, this may be a season of high volatility when what we expect is what we are seing and we must therefore be very careful in our investment in other not to miss out any opportunity meant for us to take in at the cause of this period.
You can go through the link to understand more about the SEC ETF approval , although I'm still yet to believe the ETF trading has started actually but with the current news there should be an increase in FOMO by people trying to invest and this could really pump the market but there're still more dips to be experienced
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Very big news, congratulations to the Bitcoin community on the approval that everyone has been waiting for for many months.
Now the BTC Spot ETF has been officially approved in the United States and this event is expected to have a significant positive impact on the market.
The strange thing that I noticed is that when the fake news was published on the X platform yesterday, there was a great reaction in the market and the price of Bitcoin rose within a few hours, while now after the official news was published we notice that the price of Bitcoin is still the same.
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Now that approval has been made, what next inline for move, is this going to triggers the market price more higher or there is not going to be something we should expect for now, it seems that so many of the altcoins markets and bitcoin altogether we're rising a d pumping, this may be a season of high volatility when what we expect is what we are seing and we must therefore be very careful in our investment in other not to miss out any opportunity meant for us to take in at the cause of this period.
You can go through the link to understand more about the SEC ETF approval , although I'm still yet to believe the ETF trading has started actually but with the current news there should be an increase in FOMO by people trying to invest and this could really pump the market but there're still more dips to be experienced
With the approval of Bitcoin ETF, many crypto investors would invest because of that and they will be caught up with FOMO, making them invest in bitcoin at a high price. Anyway, whatever high price someone bought bitcoin at, before the halving season, he would surely end up being on profits during the bull run. So cause of alarm whether we later experience a dip market towards bitcoin price this year.
The best course at this moment is to use the DCA strategy because none of us knows what the new ATH of bitcoin would be "skyrocketing above $100k" as always speculated by crypto analysts.
The crypto market looks so greenish with this bitcoin ETF approval. $50k of bitcoin price is easy to come by at this time
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Okay going through it now, you might need to check any space disruption in the third link
Thank you, Utoday's link structure looks quite similar to a link shortening service so the forum is a bit confused. Hope the other links have provided enough information about BTC Spot ETF for you.
Very big news, congratulations to the Bitcoin community on the approval that everyone has been waiting for for many months.
Now the BTC Spot ETF has been officially approved in the United States and this event is expected to have a significant positive impact on the market.
The strange thing that I noticed is that when the fake news was published on the X platform yesterday, there was a great reaction in the market and the price of Bitcoin rose within a few hours, while now after the official news was published we notice that the price of Bitcoin is still the same.
Today BTC almost touched $49K, which is really impressive. However, the positivity has not been proven as the price is fluctuating very strongly, and dropped to $45.5K. We have both sellers and buyers. The battle between Sell-the-news and FOMO is going on ^^
At least, we are seeing very big BTC Spot ETF trading volumes, reaffirming the appetite for investment in BTC from traditional investors ❤️❤️❤️
Over $3.5 billion worth of shares have traded between the 11 US spot Bitcoin exchange-traded funds as of 1 p.m. in New York on Thursday. The Grayscale Bitcoin Trust, which converted into an ETF, has seen about $1.7 billion in volume, according to data compiled by Bloomberg. Meantime, BlackRock’s iShares Bitcoin Trust—IBIT— has seen over $880 million change hands.[1]
The best course at this moment is to use the DCA strategy because none of us knows what the new ATH of bitcoin would be "skyrocketing above $100k" as always speculated by crypto analysts.
The crypto market looks so greenish with this bitcoin ETF approval. $50k of bitcoin price is easy to come by at this time
In the long term, BTC Spot ETF is expected to create important momentum for crypto market to grow in 2024 and 2025. DCA is an effective and safe strategy, we will keep our sanity and clarity. to make the right decisions in this market 💪💪💪
[1] Bitcoin ETF Trading Volumes Top $3 Billion in First Day (https://www.bloomberg.com/news/articles/2024-01-11/bitcoin-etf-trading-volumes-soar-in-ground-breaking-first-day)
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Thank you, Utoday's link structure looks quite similar to a link shortening service so the forum is a bit confused. Hope the other links have provided enough information about BTC Spot ETF for you.
Yeah it did and finally the it feels so good to hear the news
Over $3.5 billion worth of shares have traded between the 11 US spot Bitcoin exchange-traded funds as of 1 p.m. in New York on Thursday. The Grayscale Bitcoin Trust, which converted into an ETF, has seen about $1.7 billion in volume, according to data compiled by Bloomberg. Meantime, BlackRock’s iShares Bitcoin Trust—IBIT— has seen over $880 million change hands.[1]
We are still expecting more larger volume trades :D
[1] Bitcoin ETF Trading Volumes Top $3 Billion in First Day (https://www.bloomberg.com/news/articles/2024-01-11/bitcoin-etf-trading-volumes-soar-in-ground-breaking-first-day)
just in a day of approval 8), this should also encourage more investors
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We are still expecting more larger volume trades :D
just in a day of approval 8), this should also encourage more investors
Traditional investors' demand for investing in BTC has been confirmed, and it is truly huge. This will help support future BTC price increases.
But in the short term, what is happening with BTC price chart? :-\ I see BTC has encountered strong resistance at $49K area, maybe someone is selling to take profits ^^
(https://www.tradingview.com/x/q5xOTGWd/)
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We are still expecting more larger volume trades :D
just in a day of approval 8), this should also encourage more investors
Traditional investors' demand for investing in BTC has been confirmed, and it is truly huge. This will help support future BTC price increases.
But in the short term, what is happening with BTC price chart? :-\ I see BTC has encountered strong resistance at $49K area, maybe someone is selling to take profits ^^
Indeed, after Bitcoin's price rose to $49,000 immediately after the ETF was approved, we now see the price drop to the current $45,822. A price correction in the cryptocurrency market is inevitable. Many people want to lock in their profits. They even predict that the price of Bitcoin could fall by 30 percent. What will happen next will be shown by events in the near future.
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We are still expecting more larger volume trades :D
just in a day of approval 8), this should also encourage more investors
Traditional investors' demand for investing in BTC has been confirmed, and it is truly huge. This will help support future BTC price increases.
But in the short term, what is happening with BTC price chart? :-\ I see BTC has encountered strong resistance at $49K area, maybe someone is selling to take profits ^^
Indeed, after Bitcoin's price rose to $49,000 immediately after the ETF was approved, we now see the price drop to the current $45,822. A price correction in the cryptocurrency market is inevitable. Many people want to lock in their profits. They even predict that the price of Bitcoin could fall by 30 percent. What will happen next will be shown by events in the near future.
traders expecting a dump will happen though. lot will be taking profit if the price continues to touch even at $45k. SEC didn't approved ETF to a better time but right when the market is already overbought. anyone who will be buying now will burned themselves.
if base on the chart i could say the price may dip to $38k or if it goes worse $32k as the next support line. that's when the institutions are going to buy massively to hit $50k. i guess its time to wait for now.
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traders expecting a dump will happen though. lot will be taking profit if the price continues to touch even at $45k. SEC didn't approved ETF to a better time but right when the market is already overbought. anyone who will be buying now will burned themselves.
if base on the chart i could say the price may dip to $38k or if it goes worse $32k as the next support line. that's when the institutions are going to buy massively to hit $50k. i guess its time to wait for now.
Well maybe that's what's happening. And it's possible that the price will move as you say. But I personally see that the price bounce will probably happen again from 43 or 44. But whatever it is, I actually don't really care about it. Because I will only start accumulating again if the price goes down again. Because the long-term investment journey is definitely ready with graphic twists and turns that will continue to occur. Even now Bitcoin has fallen to 45250. And yes, this is a little surprising. But this decline is similar to a liquid hunter that targets future traders who have long positions and are starting to get liquidated at the current price. And yes, currently the number of future traders being liquidated is very large. And perhaps for some people today's drop in bitcoin completely crushed the hopes of those who expected btc to fly after the announcement of bitcoin etf acceptance.
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Now that approval has been made, what next inline for move, is this going to triggers the market price more higher or there is not going to be something we should expect for now, it seems that so many of the altcoins markets and bitcoin altogether we're rising a d pumping, this may be a season of high volatility when what we expect is what we are seing and we must therefore be very careful in our investment in other not to miss out any opportunity meant for us to take in at the cause of this period.
You are right, I also did not expect this outcome as I thought when the ETFs were approved we would see a boom in the market and it would be sudden but I was shocked to see the price going down and down even after the ETFs had been approved. The price of BTC only goes up when trading on ETFs starts.
This made me realize that ETF trading is not open for 24/7 as it is institutional trading so they also take a leave, which will put impact on the trading on the basis of active hours. Or maybe I am taking this wrong, well, another funny thing is few companies had withdrew there ETF proposals maybe they fear the big opponent BlackRock or they had any other reasons, but this is not good for the market,
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You are right, I also did not expect this outcome as I thought when the ETFs were approved we would see a boom in the market and it would be sudden but I was shocked to see the price going down and down even after the ETFs had been approved. The price of BTC only goes up when trading on ETFs starts.
This made me realize that ETF trading is not open for 24/7 as it is institutional trading so they also take a leave, which will put impact on the trading on the basis of active hours. Or maybe I am taking this wrong, well, another funny thing is few companies had withdrew there ETF proposals maybe they fear the big opponent BlackRock or they had any other reasons, but this is not good for the market,
It seems that the good news about Bitcoin ETF has turned to a negative outcome on the BTC price instead of rising it suddenly dropped to $43k the recent price increase at $48k plus is just a signal that the price will drop but it has still had strong resistance at $43,250 there is still a possibility that the price will recover soon at $47k or beyond unless if the resistance level is broken if it happens we will see a huge decline on the price.
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but it has still had strong resistance at $43,250 there is still a possibility that the price will recover
Neah, unfortunately there is no depth volume at these levels, the top 5 exchnges barely have 50 million that's some 1000BTC in the 2% area.
Rather then resistance I see it more like reluctance to sell even lower, not that the outcome is not the same but, well, the nuance.
it seems that so many of the altcoins markets and bitcoin altogether we're rising a d pumping,
That should have been the first red flag for this red parade, altcoins going up faster then BTC when the money was supposed to go only in BTC was obviously stupid fomo or tentative of pump and dump.
Either way this next day crash is bad, no matter how you want to explain buy overbought sentiment, the fact that the approval was already priced in, that we have people taking profits what's certain for the average Joe is that right after the big day the price tanked more than 5% and this will put of many of those investors.
I'm genuinely interested in how volumes on Monday- Wednesday will look, this could go both ways but a drop in both volume and price even next week will be bad, no doubts on that.
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Either way this next day crash is bad, no matter how you want to explain buy overbought sentiment, the fact that the approval was already priced in, that we have people taking profits what's certain for the average Joe is that right after the big day the price tanked more than 5% and this will put of many of those investors.
I'm genuinely interested in how volumes on Monday- Wednesday will look, this could go both ways but a drop in both volume and price even next week will be bad, no doubts on that.
The price action immediately following the BTC Spot ETF news was not as positive as I expected. BTC fell from $49K to $41.5K, about -15%, a harsh truth even for the most optimistic people. Nevertheless, high volatility has become a feature of this market, especially in the few days around important news.
I wait for this week's and next week's CLOSE before thinking BTC will reach $38.5K or worse $32.5K. For now, let the “sell-the-news” people do their work.
(https://www.tradingview.com/x/fPIjh6s9/)
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The price action immediately following the BTC Spot ETF news was not as positive as I expected. BTC fell from $49K to $41.5K, about -15%, a harsh truth even for the most optimistic people. Nevertheless, high volatility has become a feature of this market, especially in the few days around important news.
I wait for this week's and next week's CLOSE before thinking BTC will reach $38.5K or worse $32.5K. For now, let the “sell-the-news” people do their work.
(https://www.tradingview.com/x/fPIjh6s9/)
Because people actually had strong belief that SEC. will approve Bitcoin Spot ETFs, which actually happened this week. With people who believed it, they already took advantage of uncertainty in the market to buy cheap bitcoins months ago. They already spent all capital for buying months ago and have no free capital to invest more.
With people who hesitated about Bitcoin Spot ETF approvals, some bought bitcoin with a hacked tweet from SEC and no longer have money to buy more now. Some will continue to doubt about Bitcoin future and they will need months or years to actually join the market.
With companies that won with Bitcoin Spot ETF applications, it takes them time to gradually buy bitcoin. They are smart enough to not spend massive capital to buy bitcoin on a single day and be a catalyst to pump Bitcoin price for other people to take profit.
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The price action immediately following the BTC Spot ETF news was not as positive as I expected. BTC fell from $49K to $41.5K, about -15%, a harsh truth even for the most optimistic people.
Damn I just wrote 5 lines for nothing, lol! ;D
I had to look there times at the number and I was wondering that the hell happened, I was just above talking about a wall at 43250 with BitMaxz saw that holding for hours at 43600 before going to sleep I was looking now at the price and wasn't sure how you got 41.5 not realizing it's no longer 43 600 but 42 600 so we had another drop somewhere late yesterday (I'm running on CET (GMT+1) TIME.
So..damn!!!! Again!
It's not that I care about this -15%, we just a 100% up in a few months and we're still 103% YOY but this whole things is going to shatter a lot of confidence , especially now that the guy at Vanguard can point fingers and laugh how they've saved their clients 15%. Now the hope is a long term rebound after the initial stage, much like the Facebook IPO, the enthusiasm vanished in the first days, it dropped nearly 50% and despite all the pessimism and failures it's still now 879.57%, making it by far one of my luckiest contrarian pick ever!
Just as a warning, I'm one of the most pessimistic guys when it comes to price jumps, I have a perfect reputation on this build on BTT for years but I have a feeling we're going to have the same thing on the halving, too many have invested too much at lower price and are going to take quick profits, of course we will definitely hit a new ATH somewhere 2024-25 but this flop was a reality check!
I wait for this week's and next week's CLOSE before thinking BTC will reach $38.5K or worse $32.5K. For now, let the “sell-the-news” people do their work.
32.5k will be bad! Really bad! I'm watching revenue per th/s it's right now at 8 cents, 32k would move it close to 6, that's the point when Core entered chapter 11 last year, with 5 cents being the lowest point ever, contagion will spread from and that will again create more panic.
A slow months long decrease to 32k is manageable a dump to 32k in a week will be a bloodbath!
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I had to look there times at the number and I was wondering that the hell happened, I was just above talking about a wall at 43250 with BitMaxz saw that holding for hours at 43600 before going to sleep I was looking now at the price and wasn't sure how you got 41.5 not realizing it's no longer 43 600 but 42 600 so we had another drop somewhere late yesterday (I'm running on CET (GMT+1) TIME.
So..damn!!!! Again!
It actually dropped at $41.5 you can see this price on the chart trading view or in Coinmarketcap if you set the line into candle stick in 1-minute intervals you will see the lowest price at 22:22 UTC it happened 10 hours ago.
I thought it would stay at that resistance level that I predicted recently but it dropped again and touched $41.5k in just a minute and went back to $42k. I don't see any other news that could impact this current bitcoin price but I heard miners are now selling their BTC however, the reason why they sell it is because they are going to buy new equipment before halving. I just heard it from social media comments and Cryptopanic.
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We are still expecting more larger volume trades :D
just in a day of approval 8), this should also encourage more investors
Traditional investors' demand for investing in BTC has been confirmed, and it is truly huge. This will help support future BTC price increases.
But in the short term, what is happening with BTC price chart? :-\ I see BTC has encountered strong resistance at $49K area, maybe someone is selling to take profits ^^
(https://www.tradingview.com/x/q5xOTGWd/)
Check a lower time frame that point is really a strong resistance or maybe I should say a region because there has been several reject around near that region its obvious that there's been a profit made around 45 => to the target maybe by the whales
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It's not that I care about this -15%, we just a 100% up in a few months and we're still 103% YOY but this whole things is going to shatter a lot of confidence , especially now that the guy at Vanguard can point fingers and laugh how they've saved their clients 15%. Now the hope is a long term rebound after the initial stage, much like the Facebook IPO, the enthusiasm vanished in the first days, it dropped nearly 50% and despite all the pessimism and failures it's still now 879.57%, making it by far one of my luckiest contrarian pick ever!
When I read contrarian... I get interested :D
A certain John Kim - don't know him - had predicted what is shocking now the cryptocommunity (kudos for him!).
I opened a thread on his contrarian stance about the impact of the ETF approval
Impact of the upcoming BTC ETF on the BTC price: A contrarian view (https://www.altcoinstalks.com/index.php?topic=314833.0)
His theory was based on
a) what happened in October 2021 and following months when the ProShares Bitcoin Strategy ETF (BITO) launched and
b) on the fact that the banks were not positioning themselves as if they expected higher BTC prices following the ETF approval.
"I discussed the likely ongoing price spike higher in BTC prices that would follow the BITO launch and the very high likelihood that the bankers would then execute a carpet pull from November 2021 to January 2022, after luring the dumb money into the BTC market.
What do I expect after the spot BTC ETF launch?
For now, I’m not observing any banker positioning in the BTC markets that support any of the above ‘pundit” predictions
In fact, as of today, I haven’t encountered anything that would suggest BTC prices can move higher than the $50,000 to $55,000 range in January, even were the launch of a spot BTC ETF to bump BTC prices higher.
However, I would not expect any different outcome and trajectory than the one I predicted in the above podcast on the release date of the BTC BITO last 19 October 2021 - a temporary bump higher in prices of a magnitude impossible to predict at the current time, followed by a potentially really big crash.
Though I haven’t spotted any signs as of yet that a big crash is coming after the release of the spot BTC ETF, this is the typical banker Modus Operandi after releasing a BTC derivative product."
It looks like Mr. Kim was spot on 8)
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Impact of the upcoming BTC ETF on the BTC price: A contrarian view (https://www.altcoinstalks.com/index.php?topic=314833.0)
I saw this link fro a previous thread I checked this morning, it didn't work but I think this works fine just saying so u can review the previous link url
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Remember the news about China and the unlocking of cryptocurrency? Everyone was expecting a pampa and endless growth, and in the end nothing happened. Similarly with the (official) adoption of ETFs. Everyone believed in growth, yes, there was growth. But in the end, we were fooled once again. What's on the chart now is clearly not positive.
P.S. What do you expect in the short term from bitcoin? Don't forget to follow risk management. It's important! 8)
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Remember the news about China and the unlocking of cryptocurrency? Everyone was expecting a pampa and endless growth, and in the end nothing happened. Similarly with the (official) adoption of ETFs. Everyone believed in growth, yes, there was growth. But in the end, we were fooled once again. What's on the chart now is clearly not positive.
Gary Gensler is a snitch, how does he accept bitcoin and later says horrible stuffs about bitcoin, he doesn't knows that he is only privilege and the position he occupied today is only a political time frame, if another government take over US tomorrow he is going to be sack and another person will replace under some minutes and what will be left of him is the same bitcoin he is doing anyhow because Bitcoin is the only weapon people have that the government can't control.
P.S. What do you expect in the short term from bitcoin? Don't forget to follow risk management. It's important! 8)
This short term movement will soon fadeout as halving is going to be the next hope of the speculators and that is why Bitcoin is still trading at the top of $40k support. It wouldn't come down any soon but I think corrections will come after the halving.
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Remember the news about China and the unlocking of cryptocurrency? Everyone was expecting a pampa and endless growth, and in the end nothing happened. Similarly with the (official) adoption of ETFs. Everyone believed in growth, yes, there was growth. But in the end, we were fooled once again. What's on the chart now is clearly not positive.
P.S. What do you expect in the short term from bitcoin? Don't forget to follow risk management. It's important! 8)
I believe that BTC and the crypto market do not depend on just one country. China has rejected the opportunity with crypto, but I believe they will soon accept because Hong Kong is joining the crypto wave.
Market Makers have more information about the market than investors: buying/selling volume, important price levels, market sentiment. They have ways to maximize their profits, of course by making most of the rest lose money.
Maybe we are seeing “sell-the-news”, I am not surprised by this. Regardless, the BTC Spot ETF will still be an important driver for the coming cycle.
My MSAP.Rainbow prediction (https://www.youtube.com/watch?v=Z-21YuuNNJw) has completed its jouney. This is my funny prediction at the moment. I hope I'm wrong and BTC will break $52K easily.
(https://www.tradingview.com/x/8qz5idRU/)
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The race to become the first mover in the Bitcoin ETF market has attracted major players from both the worlds of traditional finance and cryptocurrencies. Black rock will play an exceptional role in this matter.
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I don't see any other news that could impact this current bitcoin price but I heard miners are now selling their BTC however, the reason why they sell it is because they are going to buy new equipment before halving. I just heard it from social media comments and Cryptopanic.
Cryptopanic? Lol, so you're supposed to keep your cool and DYOR on it ?;D
This mining thing makes little sense, I mean, why????
First you don't sell now to buy gear for the halving as Bitmain and Microbt are already full of orders, Mara has a delivery scheduled for Q3 2024!
Now, about getting ready for the halving, to make the same profits per th/s after it you need double the price, if you know this doubling in price would happen , why would you buy gear and not BTC, not even going into the thing of selling it for cash for gear for getting satoshi..
Let's take the s21, I'm not going for more efficiency but for lower th/$, cheap as hell kwh 4cents, no other costs (unicorn realms!).
That thing will burn $3.36 and will get you $16, assuming you have by delivery 60 days till having, you've made ~750, you have ~3200 to cover.
So if the price goes up immediately after the halving you still need half a year to ROI, assuming the others don't move in.
If the price jump happens 6 months after the halving then you have ~1000 and need another 4 months to cover till full ROI.
So why not buy Bitcoin now, store that with no incurring cost of expanding, months of pad wages and so on?
If you anticipate the price spike will happen fast then it makes no sense not buying Bitcoin now.
If you anticipate the halving not affecting the price immediately it makes no sense expanding and not well into it!
Anyhow this would be simple to validate or invalidate as a theory, all the big guys are listed on the stock exchange and will have to release their holdings, some in order to gain more trust and more investors do it monthly, some like core are forced to do since their are under chapter11, so we will probably see how much of it is true by early February but for me it would be a shock to be honest.
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I believe that BTC and the crypto market do not depend on just one country. China has rejected the opportunity with crypto, but I believe they will soon accept because Hong Kong is joining the crypto wave.
Market Makers have more information about the market than investors: buying/selling volume, important price levels, market sentiment. They have ways to maximize their profits, of course by making most of the rest lose money.
Maybe we are seeing “sell-the-news”, I am not surprised by this. Regardless, the BTC Spot ETF will still be an important driver for the coming cycle.
My MSAP.Rainbow prediction (https://www.youtube.com/watch?v=Z-21YuuNNJw) has completed its jouney. This is my funny prediction at the moment. I hope I'm wrong and BTC will break $52K easily.
(https://www.tradingview.com/x/8qz5idRU/)
Ideal of course, would be to see (this year for sure) a price for 1BTC In 20-25 thousand dollars. In general, you know, ready fully before any fall. Whether it's a -15% drop tomorrow or a +15% rise. I will act on the market situation. Don't forget, (probably) there will be another ETF ETH acceptance. And I believe they should adopt it. Within a few months - 100%.
As always, we are watching this wild market. Thanks for sharing the screenshot.
P.S. If you have a personal blog/telegram channel/youtube - feel free to share. Will be a subscriber. 8)
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Ideal of course, would be to see (this year for sure) a price for 1BTC In 20-25 thousand dollars. In general, you know, ready fully before any fall. Whether it's a -15% drop tomorrow or a +15% rise. I will act on the market situation. Don't forget, (probably) there will be another ETF ETH acceptance. And I believe they should adopt it. Within a few months - 100%.
As always, we are watching this wild market. Thanks for sharing the screenshot.
P.S. If you have a personal blog/telegram channel/youtube - feel free to share. Will be a subscriber. 8)
If we are long-term investors, any short-term negative fluctuations will not have any impact on our investment decisions.
We will have ETH Spot ETF, BTC halving, presidential election in the US, these stories will take BTC to new ATH, that is almost a certainty! I have no skepticism about this scenario.
I have telegram and youtube channels, but done in my local language ^^ AltcoinsTalks forum is good enough for us to discuss the market 💪💪💪
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If we are long-term investors, any short-term negative fluctuations will not have any impact on our investment decisions.
Yes exactly.
It is true that if we are long time holders then we will not be affected by various market changes which are quite drastic at any time. Indeed, we already understand that the market is very volatile and there will definitely be continuous changes whether they are significant or not. So if we have decided to hold for a long period of time, we can just leave it alone and our attitude is just to monitor market movements when it will go to a real bullish area. because if we are constantly in the market and we worry about everything then it is very likely that our main goal of holding for a long period of time will actually be disrupted and there will be certain worries.
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Too many people got too hyped for this, just relax and wait for it to eventually happen. I am sure that its going to be easier to get accepted nowadays, its not going to be a rejection, even the worst possible case would be just another postpone, which isn't bad, it just means it will get accepted some other time, but there is no rejection that would be possible. So all I am saying is that we are going to get it anyway, so why get too anxious about it? What would you gain from having some sort of issues with it? In the end, people sold a lot, because they are anxious, and this resulted with small correction, it will go back anyways.
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Yes exactly.
It is true that if we are long time holders then we will not be affected by various market changes which are quite drastic at any time. Indeed, we already understand that the market is very volatile and there will definitely be continuous changes whether they are significant or not. So if we have decided to hold for a long period of time, we can just leave it alone and our attitude is just to monitor market movements when it will go to a real bullish area. because if we are constantly in the market and we worry about everything then it is very likely that our main goal of holding for a long period of time will actually be disrupted and there will be certain worries.
I believe that Market Maker or greed/fear can only create short-term fluctuations but cannot change the inevitable trend of the market which is long-term growth. I only invest in Spot and Hold BTC, I don't join Future, I don't have any fear related to 20-30% increase or decrease in a few weeks. My goal is for BTC to reach $150K by 2025. Currently BTC can fall to $32.5K or increase to $50K, everything is not important. Market Maker won't be able to get my BTC ^^
Too many people got too hyped for this, just relax and wait for it to eventually happen. I am sure that its going to be easier to get accepted nowadays, its not going to be a rejection, even the worst possible case would be just another postpone, which isn't bad, it just means it will get accepted some other time, but there is no rejection that would be possible. So all I am saying is that we are going to get it anyway, so why get too anxious about it? What would you gain from having some sort of issues with it? In the end, people sold a lot, because they are anxious, and this resulted with small correction, it will go back anyways.
We got BTC SPot ETF on Jan 11th, mate! Now we just follow its impact on BTC and the crypto market in long-term. I believe that the impact is positive and we will have new ATH for BTC this year 💪
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My goal is for BTC to reach $150K by 2025. Currently BTC can fall to $32.5K or increase to $50K, everything is not important. Market Maker won't be able to get my BTC ^^
We got BTC SPot ETF on Jan 11th, mate! Now we just follow its impact on BTC and the crypto market in long-term. I believe that the impact is positive and we will have new ATH for BTC this year 💪
Well, we might and it could show up next year but whatever will happen should be spotted on the price movement as the chart will always tell
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Well, we might and it could show up next year but whatever will happen should be spotted on the price movement as the chart will always tell
Let's try to predict the support price zone for BTC.
Using Fibo Retracement, BTC price has currently decreased from Fibo 0.786 to Fibo 0.618, however this zone does not have any support yet, so I think BTC will continue to decrease to Fibo 0.5 ~ $32K. This was a strong resistance zone in Q2 2023. Once broken, it could become a reliable support zone for BTC's price increase.
(https://www.tradingview.com/x/tw65nxls/)
In case the market has a black swan event, BTC may drop to Fibo 0.236 ~ $22K. However, since the BTC halving is only about 3 months away, I don't think the market has enough time to make such a big move, so I won't pay much attention to this possibility.
Details: Support zone: BTC will retest before continuing to increase (https://www.altcoinstalks.com/index.php?topic=316064.0)
>> We have now seen BTC test $39K, a key level, and continue to rise. $32.5K is my expectation zone, not a mandatory zone where BTC needs to retest. In 2016, we only saw one pinbar weekly candle at Fibo 0.5. We will continue to observe BTC price movements over the next few weeks.
I still keep my BTC for the long-term goal of ATH in 2025 ^^
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>> We have now seen BTC test $39K, a key level, and continue to rise. $32.5K is my expectation zone, not a mandatory zone where BTC needs to retest. In 2016, we only saw one pinbar weekly candle at Fibo 0.5. We will continue to observe BTC price movements over the next few weeks.
I still keep my BTC for the long-term goal of ATH in 2025 ^^
Keeping is just the real deal here , surely we are expecting an ATH soon not more than 2025.
For now I think its trying to build up a strong support at the current Prince bottom from your chart any brak out is directly to the pin point as you've mentioned .
More dips to catch :D
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>> We have now seen BTC test $39K, a key level, and continue to rise. $32.5K is my expectation zone, not a mandatory zone where BTC needs to retest. In 2016, we only saw one pinbar weekly candle at Fibo 0.5. We will continue to observe BTC price movements over the next few weeks.
I still keep my BTC for the long-term goal of ATH in 2025 ^^
Keeping is just the real deal here , surely we are expecting an ATH soon not more than 2025.
For now I think its trying to build up a strong support at the current Prince bottom from your chart any brak out is directly to the pin point as you've mentioned .
More dips to catch :D
Yeah, best time to DCA in preparation for the next possible new ATH in the year 2025 timeframe. I also have a small hodlings which is intended for long term investment and hopefully what we have on our wallets will bring good news to me and you next year. 😁
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Keeping is just the real deal here , surely we are expecting an ATH soon not more than 2025.
For now I think its trying to build up a strong support at the current Prince bottom from your chart any brak out is directly to the pin point as you've mentioned .
More dips to catch :D
BTC's strong price increase this week really surprised me. It seems that the fact that FTX has finished liquidating their GBTC has reduced the selling pressure in the OTC market, thereby allowing buying pressure to prevail and pushing BTC price to $48k. We are seeing a direct impact from the BTC Spot ETF.
Anyway, I do not deny the growth of BTC price. I want to see it higher and higher, this will be confirmation for investors to continue to be optimistic and greedy, the crypto market will have more motivation to grow.
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Keeping is just the real deal here , surely we are expecting an ATH soon not more than 2025.
For now I think its trying to build up a strong support at the current Prince bottom from your chart any brak out is directly to the pin point as you've mentioned .
More dips to catch :D
BTC's strong price increase this week really surprised me. It seems that the fact that FTX has finished liquidating their GBTC has reduced the selling pressure in the OTC market, thereby allowing buying pressure to prevail and pushing BTC price to $48k. We are seeing a direct impact from the BTC Spot ETF.
Anyway, I do not deny the growth of BTC price. I want to see it higher and higher, this will be confirmation for investors to continue to be optimistic and greedy, the crypto market will have more motivation to grow.
Any latest update?? missed this as I was gone for a while
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Any latest update?? missed this as I was gone for a while
After FTX sold all GBTC to compensate users, BTC price fell to $39K and then recovered strongly to $64K. Currently, Genesis is probably selling $1.3B in GBTC and causing the price to move sideways in the $60K-64K range[1]. I hope that all of Genesis' GBTC will be quickly absorbed by the remaining ETF providers in the market, keeping the BTC price from falling into the $5xK zone!
[1] Impact of Genesis selling $1.3B worth of BTC (https://www.altcoinstalks.com/index.php?topic=317744)
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Any latest update?? missed this as I was gone for a while
After FTX sold all GBTC to compensate users, BTC price fell to $39K and then recovered strongly to $64K. Currently, Genesis is probably selling $1.3B in GBTC and causing the price to move sideways in the $60K-64K range[1]. I hope that all of Genesis' GBTC will be quickly absorbed by the remaining ETF providers in the market, keeping the BTC price from falling into the $5xK zone!
[1] Impact of Genesis selling $1.3B worth of BTC (https://www.altcoinstalks.com/index.php?topic=317744)
I hope so and it should be soon as ETFs continue the muscle flexing intthe aspect of BTC.
For (every sale in firm)
Return ETF absuption. ;D
Although, I still here the viral saying of an upcoming dip from TAs
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Yeah, best time to DCA in preparation for the next possible new ATH in the year 2025 timeframe. I also have a small hodlings which is intended for long term investment and hopefully what we have on our wallets will bring good news to me and you next year. 😁
Soon the bull run will start and usually this happens when the halving has been carried out and a few months later there will be a very crazy price increase because all the miners' savings have run out, they are having difficulty getting Bitcoin so many will buy Bitcoin at high prices. and influence Altcoin price movements.
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I am not sure if we have it or not, but there is a logic behind all of these posts as well and I congratulate it. The whole "ETF will make it high" somehow getting right at the halving period was designed perfectly. I am %100 sure that they did it knowing. I have no idea how that benefits the ETF, but it is clear that we are not there just for this reason, we are going up because of the halving, and because ETF stuff was done in a way that was designed to date right at the same time, everyone thinks that it was somehow related. I purposefully work towards the halving logic, I know halving will make it go up without a doubt.
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Yeah, best time to DCA in preparation for the next possible new ATH in the year 2025 timeframe. I also have a small hodlings which is intended for long term investment and hopefully what we have on our wallets will bring good news to me and you next year. 😁
Soon the bull run will start and usually this happens when the halving has been carried out and a few months later there will be a very crazy price increase because all the miners' savings have run out, they are having difficulty getting Bitcoin so many will buy Bitcoin at high prices. and influence Altcoin price movements.
I think already bull run session has been starred. Gradually and some times speedily Bitcoin and altcoin price increasing. We saw 2/3 days ago Bitcoin price touch ATH of bitcoin price. I think it is Affect of Bitcoin spot ETF approval. Huge ETF trading happening so volume also increasing regularly. So Bitcoin price increasing and it will huge increase there has no doubt.
Now bitcoin price is near about $67200 and i think within short time Bitcoin price will hit $100k there has no doubt. When US government approved Bitcoin Spot ETF then Bull session started i think.
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I think already bull run session has been starred. Gradually and some times speedily Bitcoin and altcoin price increasing. We saw 2/3 days ago Bitcoin price touch ATH of bitcoin price. I think it is Affect of Bitcoin spot ETF approval. Huge ETF trading happening so volume also increasing regularly. So Bitcoin price increasing and it will huge increase there has no doubt.
Now bitcoin price is near about $67200 and i think within short time Bitcoin price will hit $100k there has no doubt. When US government approved Bitcoin Spot ETF then Bull session started i think.
Yes, you are right, currently it may have entered a bull run which usually occurs marked by several altcoins making very sharp price increases, but as you mentioned there is still a bull run that has yet to come from Ethereum, many are waiting for an ETF for Ethereum which has the potential to increase the price of Ethereum when the ETF accepts Ethereum into its market listing.
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I think already bull run session has been starred. Gradually and some times speedily Bitcoin and altcoin price increasing. We saw 2/3 days ago Bitcoin price touch ATH of bitcoin price. I think it is Affect of Bitcoin spot ETF approval. Huge ETF trading happening so volume also increasing regularly. So Bitcoin price increasing and it will huge increase there has no doubt.
Now bitcoin price is near about $67200 and i think within short time Bitcoin price will hit $100k there has no doubt. When US government approved Bitcoin Spot ETF then Bull session started i think.
Yes, you are right, currently it may have entered a bull run which usually occurs marked by several altcoins making very sharp price increases, but as you mentioned there is still a bull run that has yet to come from Ethereum, many are waiting for an ETF for Ethereum which has the potential to increase the price of Ethereum when the ETF accepts Ethereum into its market listing.
Yes i think now we are in real bull session. All cryptocurrency price are increasing. Also Ethereum price increasing but it’s price increasing slowly. I think within short time Ethereum ETF will be approved. And then Ethereum price will more up. And i think Then Ethereum price will touch minimum $10k.
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Yes i think now we are in real bull session. All cryptocurrency price are increasing. Also Ethereum price increasing but it’s price increasing slowly. I think within short time Ethereum ETF will be approved. And then Ethereum price will more up. And i think Then Ethereum price will touch minimum $10k.
As you can see, many cryptocurrency prices have indeed increased, but not all altcoins have done that. I really hope that the price of Ethereum will rise to the figure you mentioned, but I also think that with increasingly higher transaction costs and the supply that Ethereum has is too much, imagine if they have been mining since last year, when the price rises to $10k, many people will become rich.
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As you can see, many cryptocurrency prices have indeed increased, but not all altcoins have done that. I really hope that the price of Ethereum will rise to the figure you mentioned, but I also think that with increasingly higher transaction costs and the supply that Ethereum has is too much, imagine if they have been mining since last year, when the price rises to $10k, many people will become rich.
Over the past few weeks, ETH price has increased significantly and reached the $4K price range, it has performed better than most of the remaining ALTS in the market, although weaker than SOL or memecoins ^^
After BTC is pumped thanks to the BTC Spot ETF, the money usually flows to ETH and we have seen what is happening. Other ALTS need to wait more, don't forget that BTC Halving hasn't happened yet.
Ethereum has just had a successful DenCun upgrade, the fees on Layer-2 solutions are cheaper and users can experience them easily. The next upgrades may directly reduce transaction fees on Ethereum Layer-1, let's wait!
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As you can see, many cryptocurrency prices have indeed increased, but not all altcoins have done that. I really hope that the price of Ethereum will rise to the figure you mentioned, but I also think that with increasingly higher transaction costs and the supply that Ethereum has is too much, imagine if they have been mining since last year, when the price rises to $10k, many people will become rich.
Prices of all cryptocurrency were increased but now the market is red and bitcoin reduces to 66k$ from 73k$ but this looks like a correction which will surely increase when condition become favorable. Ethereum and all other altcoins are also reduced in worth so many people will sell their coins due to panic but most believer of bitcoin will stand firm on their position.
Only those will become rich who don't change their mind with changing market conditions so hopefully the bitcoin will again reach to 73k$ and with same upward movements ethereum will also become green and in current month may be it reaches to 5k if market turns green again.
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Prices of all cryptocurrency were increased but now the market is red and bitcoin reduces to 66k$ from 73k$ but this looks like a correction which will surely increase when condition become favorable. Ethereum and all other altcoins are also reduced in worth so many people will sell their coins due to panic but most believer of bitcoin will stand firm on their position.
Only those will become rich who don't change their mind with changing market conditions so hopefully the bitcoin will again reach to 73k$ and with same upward movements ethereum will also become green and in current month may be it reaches to 5k if market turns green again.
I believe that the positive impact of BTC Spot ETF on BTC price and the crypto market will take place in the long term, meaning by 2025. It is possible that BTC Spot ETF is the reason why BTC has a new ATH before halving and surprises the whole market. I think the current correction of BTC is necessary to be able to re-accumulate and then continue to grow stronger. If BTC price does not re-accumulate, a crash can happen and harm the whole market.
The cooling of BTC's upward momentum can help ALTS get large inflows, as ETH, SOL and AVAX are having when investors start looking for bigger opportunities in ALTS. The rotation of money flow between BTC and ALTS is necessary for the bullrun to last longer, token prices to be pushed higher and the market to mature.
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I believe that the positive impact of BTC Spot ETF on BTC price and the crypto market will take place in the long term, meaning by 2025. It is possible that BTC Spot ETF is the reason why BTC has a new ATH before halving and surprises the whole market. I think the current correction of BTC is necessary to be able to re-accumulate and then continue to grow stronger. If BTC price does not re-accumulate, a crash can happen and harm the whole market.
The cooling of BTC's upward momentum can help ALTS get large inflows, as ETH, SOL and AVAX are having when investors start looking for bigger opportunities in ALTS. The rotation of money flow between BTC and ALTS is necessary for the bullrun to last longer, token prices to be pushed higher and the market to mature.
Yes this can be a cause of huge pump that move bitcoin towards the price of 73k$ which we have never seen before. Most of the time price goes down and people think that Bull season has come to end but that is not the case but actually correction is needed when price goes more higher and also it gives us an opportunity so we can buy bitcoin once again at lower worth.
There are lots of altcoins for investment currently but picking up any coin will not give you profit at the time of halving therefore choose altcoins when you get satisfied about its investment after a research. Ethereum and Solana are better choices and nobody should forget to buy these at affordable worth so halving can become most worthy for you.
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Ever since this, everything changed. Now today I hear that Blackrock is dealing with ETH as well, and really pushing for it, now that they figured out exactly what they need to make this happen, there is no reason for them to not have ETH neither, that could very well happen. They could do this basically for any decentralized currency, so stuff like XRP and BNB are out because they have owners that control it, but they can do it even for something as silly as Doge to be fair, doubt they would but I am just pointing out how that works. If ETH works, then the price will skyrocket once again but I bet it will take a long time to happen.
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Ever since this, everything changed. Now today I hear that Blackrock is dealing with ETH as well, and really pushing for it, now that they figured out exactly what they need to make this happen, there is no reason for them to not have ETH neither, that could very well happen. They could do this basically for any decentralized currency, so stuff like XRP and BNB are out because they have owners that control it, but they can do it even for something as silly as Doge to be fair, doubt they would but I am just pointing out how that works. If ETH works, then the price will skyrocket once again but I bet it will take a long time to happen.
I think BlackRock and other ETF providers will only choose the best cryptos to create Spot ETFs in order to attract traditional investors. Currently, we only have BTC Spot ETF because BTC is the crypto King, ETH Spot ETF is still pending approval, and no other Spot ETF has been proposed, even XRP Spot ETF when XRP has been declared not a security. Perhaps it is too early for us to think about Spot ETFs based on other crypto assets in the market.
In the meantime, we are still enjoying the positive impact of BTC Spot ETF on the entire crypto market. We are having Net outflows and BTC price has adjusted to $60K, I think next week will be a decisive moment for BTC: if BTC price falls below $60K, we will see a big adjustment. On the contrary: I think we will soon have 100K at halving ^^