ETF Approval, do we have reason to celebrate?

[Gurujebs]

Looking for bitcoin one week after ETF approval I don't think have essential effort for celebrating this approval because bitcoin keep going on lower price, most close with bad thing after ETF approval bitcoin stuck lower price and difficult for raising to higher price. Comparison before ETF approval bitcoin price stable around $46k but after approving bitcoin get dump drastically and stable around $42k after one week announcement.

When ETF was approve, I mean the official approval day, traders were anxious and didn't fomo or rush to do anything because of the tragic hack that happen to official SEC X handler, I wish that was true as they said it but that incident made traders to lose a lot of confidence and the second day, it did pump and start dumping again when Vanguard announced they will not offer any service related to ETF and also Gary Gensler hateful comments on bitcoin and we are now sliding down from daily time frame from bitcoin chart, I personally don't see the impact of this ETF but it's a welcome development for price recovery.

I don't know its some thing manage by whale how to make people losses patience waiting for bitcoin raise up again to higher price or ETF approval need several weeks later for bitcoin make new highest price for this year.

Whale are in profits around this price. In fact more than 90% of wallet that hold bitcoin from last year to now are in profit, that's why you see sell pressure from everywhere but if bitcoin manage to stay above $35k before halving, we will see more people coming to buy bitcoin again in preparation for bullrun.

[LUCKMCFLY]

When any ETF or anything that has to do with bitcoin is approved, it is a reason to rejoice and celebrate, perhaps the immediate price does not reflect the joy, because as we have all seen, instead of raising the price, it has not has risen but has fallen, in this case we must be patient because of course, here it is not because the price rose because the ETFs were Approved , it is that the whales also have a lot to do in this case, normally when we wait for a movement of bitcoin , well it happens , but the opposite , that is something normal.

I don't know, but it's always like that, we already know that ETFs and everything that is in favor of bitcoin should make us happy, but we have to know how to wait when the price will go up, but I'm sure that if it will go up in price, it won't be a problem after it happens. the halving, because as history has shown us, things are like this and happen like this, ETFs will always be the way by which we can say that adoption is stronger.

[kulkhan]

Yes looking some people celebrating ETF approval. I think it is good and big news for crypto. ETF approved last week but we saw Bitcoin price decreasing now bitcoin price is near about $42k But i think within short time Bitcoin price will increase. Because it is not Fomo it declared by Sec. I think within short time Bitcoin price will increase speedily or gradually.
Many people waiting for Bitcoin price up. Because everyone was Think after ETF approval Bitcoin price will increase. But after ETF approve Bitcoins price decreased dramatically.

[MUGNIA]

But for example, can you give me an explanation why the higher price of Bitcoin will have a positive effect on you? What is the main benefit that you or I or the majority of members from this forum will have from BlackRock or the higher price of Bitcoin?

bitcoin experiencing a high increase will definitely have a positive impact on all of us. It cannot be denied that there will be many benefits that we will get from bitcoin itself and of course for all aspects there will also be financial benefits from bitcoin.

However, in reality Bitcoin is still reluctant to move at a price of 42-45k $. There is definitely hope that it will continue to rise and we want Bitcoin to reach a new peak

[examplens]

bitcoin experiencing a high increase will definitely have a positive impact on all of us. It cannot be denied that there will be many benefits that we will get from bitcoin itself and of course for all aspects there will also be financial benefits from bitcoin.

However, in reality Bitcoin is still reluctant to move at a price of 42-45k $. There is definitely hope that it will continue to rise and we want Bitcoin to reach a new peak

If you can be more precise, what financial benefits for Bitcoin come with the ETF?
And why exactly is it important for Bitcoin to break ATH again? Because of statistics and possibly a new parameter in analyses?

If BTC reaches $500k, do you have any idea how much the transaction fees (in USD) will cost? Do you think it will be usable in its native form?

[therozaq]

Yes looking some people celebrating ETF approval. I think it is good and big news for crypto. ETF approved last week but we saw Bitcoin price decreasing now bitcoin price is near about $42k But i think within short time Bitcoin price will increase. Because it is not Fomo it declared by Sec. I think within short time Bitcoin price will increase speedily or gradually.
Many people waiting for Bitcoin price up. Because everyone was Think after ETF approval Bitcoin price will increase. But after ETF approve Bitcoins price decreased dramatically.

Yeah , Many people hope Bitcoin ETF will have good impact for bitcoin market.
But After ETF approved, we all see bitcoin price down.
It seems there is manipulation, maybe whales will buy more bitcoin.
But It's just assumption.

Current bitcoin price is $ 39K, I think It's good time to buy if you want still have free money.

[kulkhan]

Yes looking some people celebrating ETF approval. I think it is good and big news for crypto. ETF approved last week but we saw Bitcoin price decreasing now bitcoin price is near about $42k But i think within short time Bitcoin price will increase. Because it is not Fomo it declared by Sec. I think within short time Bitcoin price will increase speedily or gradually.
Many people waiting for Bitcoin price up. Because everyone was Think after ETF approval Bitcoin price will increase. But after ETF approve Bitcoins price decreased dramatically.

Yeah , Many people hope Bitcoin ETF will have good impact for bitcoin market.
But After ETF approved, we all see bitcoin price down.
It seems there is manipulation, maybe whales will buy more bitcoin.
But It's just assumption.

Current bitcoin price is $ 39K, I think It's good time to buy if you want still have free money.

I am totally agree with you. I also think some whales playing game and they manipulating. And they are responsible for this dump. Yes now bitcoin price $39k but i think it will go more down. I think market will down more. My prediction bitcoin price will decrease near about $30k. And then whales will buy Bitcoin again.. For more buy whales manipulating. I strongly believe that bitcoin snd cryptocurrency market comeback soon. And we will see bull session soon.

[bayu7adi]

Yeah , Many people hope Bitcoin ETF will have good impact for bitcoin market.
But After ETF approved, we all see bitcoin price down.
It seems there is manipulation, maybe whales will buy more bitcoin.
But It's just assumption.

Current bitcoin price is $ 39K, I think It's good time to buy if you want still have free money.

Many people hope for the price of Bitcoin, not the function of Bitcoin. It's true, everyone likes money. But money will like someone who has quality and professionalism. We assume Satoshi doesn't really care about ETFs, because the main purpose of Bitcoin is to become a p2p currency, not to be frozen and controlled by certain entities.

I do need money, but hoping for an ETF is not my only hope. If you discuss when is the best time to buy Bitcoin, all long-term investors will always recommend 'now is the right time to accumulate'. So the purchase is not just one time, but gradual. That way you will get a better average price.

[TomPluz]

What are we celebrating here?

Days after the approval of ETF for Bitcoin by SEC, the market experienced some unstable downturn...and that itself sent some shockwaves to many who expected otherwise. I was actually hoping, wishing and even praying that once ETF will come into reality Bitcoin will be marching towards a new ATH but we are, of course, so disappointed. The ETF approval is seen as an important "watershed for the world's largest cryptocurrency and the broader crypto industry" which is essentially means that Bitcoin has officially entered the mainstream and the Wall Street. And as such, big players can now be a part in manipulating the price of the asset according to their own interest...primarily to make profits and nothing more. Although I would say that this is not the end of the story and we don't know if the long-term positive effects of ETF will be kicking in maybe a year from now. At any rate, we are still hoping for the halving so I am still very positive that eventually 2024 can be a better year for Bitcoin...a lot better than 2023. In addition, people who are looking for a dip to enter Bitcoin or to buy more can do so now...so it really depends on how one is looking at it...as we know that a dip can be a big opportunity. And that in itself can be worth celebrating.

[famososMuertos]

Well, it is a bipolar feeling, many people do not understand what an ETF is, and understanding it at first can cause stupor, we are already experiencing it with the "disappointment" of the price, when what is happening due to the so-called entries and exits of stocks is something normal.

Now, it that in a way is sad, because the market becomes dependent on "certain protagonists", not only is it an inconvenience for the average bitcoiner, it is for everyone.

It is true that "X BTC" determines your ability to celebrate when the price rises, come on, that has been the case for a couple of years now, those who cannot accumulate bitcoin but fractions of Satoshi, it is simple, they have to adapt to the happiness mode that your bitcoin wallet allows, that is not the fault of the current market or the protagonists that stand out in these times.

[yohananaomi]

I am totally agree with you. I also think some whales playing game and they manipulating. And they are responsible for this dump. Yes now bitcoin price $39k but i think it will go more down. I think market will down more. My prediction bitcoin price will decrease near about $30k. And then whales will buy Bitcoin again.. For more buy whales manipulating. I strongly believe that bitcoin snd cryptocurrency market comeback soon. And we will see bull session soon.

We cannot avoid the fact that in every update there are always those who manipulate; perhaps many people think that the whales are also playing for it, and statements like this cannot be avoided.but unfortunately, the correction movement that occurred was only due to momentary panic, and now the price situation has recovered.Indeed, approaching the halving period, there are always unexpected movements, and that is normal.Stay prepared to buy and hold so that the bullish time is not left behind in order to get maximum results.

[Aanuoluwatofunmi]

It's very good news guys. The legal status of cryptocurrency in the US remains opaque, but a Bitcoin-based ETF allows regulated entities to legally invest in it without having to touch the cryptocurrency.

These organizations are not making the request on bitcoin ETF approval for the benefits of the bitcoin network or their investment in bitcoin, they are just telling us that they want to outshine their own self with the benefits of using the bitcoin market price standard over their assets values which the government granted, this is not a winning edge for bitcoin to have more stand for adoption or any serious consideration by the government, Bitcoin had long been battling itself we them right before all these began.

[bounceback]

So far not have reason to celebrate with ETF Approval after bitcoin dropping significant, I don't think any necessary with ETF approval because still can't bring positive side and make bitcoin raise to the higher price. Seems has manipulate with ETF approval since one month announced can't make bitcoin stable on higher price and many time we got correction after approving, have the whales make bitcoin get drop or any community to get advantage buy back bitcoin on lower price.

Celebrating with ETF approval seems waiting when bitcoin or altcoin raising up to the higher price, right now we don't need with celebrate and better waiting when the moment of bitcoin get up.

[0t3p0t]

Yes, Bitcoin ETF is approved already. I think we can celebrate it because it is a big news for crypto industry. However, I'm not sure how far this news to bring the influence for crypto prices. I see that some coins starting to increase their prices. But I don't see the Bitcoin price increase very significantly. I may need time for the Bitcoin price to skyrocket. 

Yeah we are here celebrating because for the first time Bitcoin was approved by SEC therefore the legality thing will possibly lure some interested investors especially those who are hesitant before it was approved.

[Gurujebs]

Yes, Bitcoin ETF is approved already. I think we can celebrate it because it is a big news for crypto industry. However, I'm not sure how far this news to bring the influence for crypto prices. I see that some coins starting to increase their prices. But I don't see the Bitcoin price increase very significantly. I may need time for the Bitcoin price to skyrocket. 

Yeah we are here celebrating because for the first time Bitcoin was approved by SEC therefore the legality thing will possibly lure some interested investors especially those who are hesitant before it was approved.

Na! There is nothing like legality on the approval of ETF. The ETF demand was there because institutional investors want it and the want a means to buy it through the traditional process that is recognize by security exchange commission and not through any centralized exchanges that will later cost them problem later since SEC don't always settle with crypto exchanges.

There wasn't even a celebration in the first place, the SEC sabotage the celebration by giving false information and the funny thing is no investigation and report was released on that Twitter fake information that was released that day. I guess we can say that SEC are into more scamming than some scam projects they complained about