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

[Stompix]

BTC down from 43k - the day of ETFs approval - to 36k today.
- 20%

Sorry but what 36k?

Coingecko:

7d Range $38,678.19 – $42,847.49

Coinmarketcap lowest price:

Jan 23, 2024      $38,521.89   
Jan 22, 2024      $39,450.12   

And it's at ~40100 as we speak, so rather than 20% it's more like -6.5%!

[Captain Corporate]

There is really no reason to keep thinking this way, I understand the logic behind it, but that doesn't mean that we should be seeing a big crash wave after the initial increase. I can see a correction, but a correction and a crash have different results. So I think its quite obvious that we are going to probably end up with something that would be a little bit off. Something like lets assume it goes to 150k with bull run and all, a correction to 135k is not a crash. I believe, we are going to see both ETF and also the halving afterwards big bull run together, and that will make the price go up a lot, with only small amount corrections in the middle.

[Peter90]

BTC down from 43k - the day of ETFs approval - to 36k today.
- 20%

Sorry but what 36k?

Coingecko:

7d Range $38,678.19 – $42,847.49

Coinmarketcap lowest price:

Jan 23, 2024      $38,521.89   
Jan 22, 2024      $39,450.12   

And it's at ~40100 as we speak, so rather than 20% it's more like -6.5%!

... how did I come up with 36k... I have no idea Stompix... Probably I need new glasses...

Thanks for the heads up!

[Captain Corporate]

The logic is that, the ETF wasn't really approved, and when people just "assumed" it would, the price went to 49k already. That wasn't even the ETF, it wasn't even ETF getting properly approved. No, that was just people thinking that it was, there was a whole thing with the tweet of it and some paper at SEC and so forth, so people did have some proper reason to believe it was true. However, it was still just a wrong alarm, not the real thing. If the fake one made this much noise, how could we think that the real one would go down? I still do not understand how you think that would be possible at all.

[philipma1957]

I am lost the ETF was approved people rushed in hoping for a moon shot to a new ATH.

It did not happen and we had a sell off.

So what is the big deal. 

The fun will all begin when the ½ ing comes.

My thoughts are we drift down to 33333

[Peter90]

Sorry but what 36k?

Coingecko:

7d Range $38,678.19 – $42,847.49

Coinmarketcap lowest price:

Jan 23, 2024      $38,521.89   
Jan 22, 2024      $39,450.12   

And it's at ~40100 as we speak, so rather than 20% it's more like -6.5%!

... how did I come up with 36k... I have no idea Stompix... Probably I need new glasses...

Thanks for the heads up!

Got it... I was wearing my € glasses...