Bitcoin is dumping after ETF approval?

[bitterguy28]

Seems like Bitcoin and the whole market is in Blood days now day after that ETF approval , is this something to be alarm for? or just another Correction that we have had before the approval?

Am not worrying of anything but just curious to what had happened today?

[joniboini]

I answered your question in another thread but I'll repeat it again, nothing surprising, just a correction as usual. People expect ETF to get approved, expect some pump, and then try to exit as quickly as possible because they know the selling pressure will increase. It happens every time, I don't think you need to be worried. The fundamentals don't change that much, halving is coming which is arguably a better thing for Bitcoin compared to ETF. Nothing is stopping you from getting a better position by doing DCA or something else though.

[tbct_mt2]

Seems like Bitcoin and the whole market is in Blood days now day after that ETF approval , is this something to be alarm for? or just another Correction that we have had before the approval?

Am not worrying of anything but just curious to what had happened today?

After some years, since 2017, in cryptocurrency market, I felt this dump is normal.

You will understand about the market more when you have more time here, see more dumps, corrections when the market is very positively about its continuation of upward movement. The market usually moves oppositely with what people think it will move.

Googling "Buy the rumor, sell the news" and deep dive into it, then try to think of this statement and the market in future. Soon you will understand it more with your experience.

Four green months in a row is like enough to see a correction.
https://cryptorank.io/price/bitcoin

[Don Pedro Dinero]

Googling "Buy the rumor, sell the news" and deep dive into it, then try to think of this statement and the market in future. Soon you will understand it more with your experience.

Yes, I think probably the positive effect of the approval of the ETF spots has been seen in the last few months, as investors took it for granted, and when the news came out, some sold, leading to the small correction. But I think in the long term, both ETFs and halving are going to help the price to go up. I think 2024 and about half of 2025 or so are going to be bullish.

[dekafee79]

Seems like Bitcoin and the whole market is in Blood days now day after that ETF approval , is this something to be alarm for? or just another Correction that we have had before the approval?

Am not worrying of anything but just curious to what had happened today?

I think it just another correction before bitcoin halving.
ETF bitcoin should have good effect for market, but let's see the market is red now.
Keep calm,
I think It's good time to buy coin, we still have chance to accumulate potential coin.
Because bullish is still long, maybe it will happen at the next year.

[Primo1760]

Seems like Bitcoin and the whole market is in Blood days now day after that ETF approval , is this something to be alarm for? or just another Correction that we have had before the approval?

Am not worrying of anything but just curious to what had happened today?

I think it just another correction before bitcoin halving.
ETF bitcoin should have good effect for market, but let's see the market is red now.
Keep calm,
I think It's good time to buy coin, we still have chance to accumulate potential coin.
Because bullish is still long, maybe it will happen at the next year.

Another correction before the bitcoin halving of course. But for those who were looking for an opportunity to invest, maybe the opportunity to invest has come. The approval of Bitcoin ETF had some positive impact on the market. The approval of the Bitcoin ETF took the Bitcoin market from $44k to $48900+. I thought maybe Bitcoin could stay in the $50,000 range right away. But instead of that, the market came back to $41,000. But for those who have been waiting to invest, now is the best time.

[DAMKAR]

We all know, bitcoin and altcoins are volatile.
I think that's normal.
If bitcoin is dumping after ETF approval.
Honestly, I don't care about ETF bitcoin because I know before bitcoin halving we should just think about How to buy more .
I just several predictions from member here about ETF bitcoin if has been approved.
Demand is the basic factor that influence the market, So maybe many investors or whales want to see the dump, because they want to buy more.
Just positive thinking

[Alcor]

Another correction before the bitcoin halving of course. But for those who were looking for an opportunity to invest, maybe the opportunity to invest has come. The approval of Bitcoin ETF had some positive impact on the market. The approval of the Bitcoin ETF took the Bitcoin market from $44k to $48900+. I thought maybe Bitcoin could stay in the $50,000 range right away. But instead of that, the market came back to $41,000. But for those who have been waiting to invest, now is the best time.

I think that before the halving, the price of Bitcoin may experience a correction several more times and even much deeper than the current one. This is absolutely normal for the cryptocurrency market. But these events will not in any way affect the upcoming price boom due to the Bitcoin halving. This year and even the first half of next year promise to be very good in terms of cryptocurrency price growth. We need to make the most of these opportunities.

[SmartGold01]

To me it's time to buy and hold since the ETF approval brings the market so low than we can expect we can also utilize this opportunity to accumulate someone useful fact about the market by buying and wait for the market to get close to halving or even after halving so that we can utilize the opportunity to hold more Bitcoin. Because I can see panic over the market this is the major reason why is dipping more though I wasn't surprised to see it this way.

[CryptoLaila]

To me it's time to buy and hold since the ETF approval brings the market so low than we can expect we can also utilize this opportunity to accumulate someone useful fact about the market by buying and wait for the market to get close to halving or even after halving so that we can utilize the opportunity to hold more Bitcoin. Because I can see panic over the market this is the major reason why is dipping more though I wasn't surprised to see it this way.

Yes! I think this bring more opportunity for  investors who haven't invest as the marker entry point is getting low , we all know the price will still go up so we should utilise the opportunities 

[Peter90]

Someone had tried to warn this community in this thread

Impact of the upcoming BTC ETF on the BTC price: A contrarian view



"What do I expect after the spot BTC ETF launch? ...

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."

[LogitechMouse]

Seems like Bitcoin and the whole market is in Blood days now day after that ETF approval , is this something to be alarm for? or just another Correction that we have had before the approval?

Am not worrying of anything but just curious to what had happened today?

Nope.
I guess the ones who're panicking right now are the newbies who expected that Bitcoin would go up after the announcement, but they saw the opposite.

For those who've been involved in crypto for quite some time, we know the phrase "Buy the rumor, Sell the news" is quite popular, and we saw the "Sell the News" when investors sold their Bitcoin holdings just when they saw the news. Is this something to be alarmed about? No, because we know in the long run that Bitcoin will just hit $50,000 with or without the announcement of an acceptance of a Spot Bitcoin ETF.

The correction that we are seeing right now is just a normal correction, and there's no need to panic. Instead of panicking, take this opportunity to accumulate some Bitcoins at a lower price.

[DabsPoorVersion]

Don't worry, the recent increase in price is just a temporary correction. Such fluctuations are common and expected in the market. Just because the ETF approval has been announced, it doesn't necessarily mean that the price will continue to increase. Don't expect it to skyrocket up to $50k-60k right away. After the sudden price hike, many investors are expected to sell off and take their profits, which is why the price is down again.

[Aanuoluwatofunmi]

Seems like Bitcoin and the whole market is in Blood days now day after that ETF approval , is this something to be alarm for? or just another Correction that we have had before the approval?

Am not worrying of anything but just curious to what had happened today?

There's nothing to worry about, you should have known that it's either if the two sides that may happen, that after the bitcoin ETF approval, the market may pump and it may dump, and now that we are at it again on dip, that means the market have already pumped right before the approval of Bitcoin ETF and nothing we should expect now than seeing the market dumps before the major pump arrives which is Bitcoin halving in few months time.

[Evgenklm]

Maybe this is a normal correction after the adoption of the Bitcoin ETF. While short-term fluctuations can be concerning, they are not necessarily indicative of a long-term trend. I think we should be more restrained and react calmly to such fluctuations, because I think there will be more ATHs ahead. Although everyone thought that everything would be different, let's see what awaits us ahead.