Bitcoin Slips Under $62K as Hong Kong ETFs Disappoint

[Jamal Aezaz]

Before halving and ETF approval, I had always said and anticipated that two will derive the market!

• US ETF
• Halving bull run

I said, if A refuses to move the market, that B will. And fortunately A already moved the market. We shouldn't expect the effect of B almost immediately.

The market is not going higher but it is also not showing such a down dip therefore everyone is calm as they predict that if price is not going to show deep down then growth is possible at this stage. I think halving will create Positive things for us but for it we have to increase our trust and should believe that as in previous Halving the situation alters to positive response after some months so similar will happen in current halving also.

The price is better for making investments so don't use negative thoughts but if you have money then utilize your energy, knowledge and money to continue your investment to see the effects of halving.

[EthereumDev_]

Before halving and ETF approval, I had always said and anticipated that two will derive the market!

• US ETF
• Halving bull run

I said, if A refuses to move the market, that B will. And fortunately A already moved the market. We shouldn't expect the effect of B almost immediately.

The market is not going higher but it is also not showing such a down dip therefore everyone is calm as they predict that if price is not going to show deep down then growth is possible at this stage. I think halving will create Positive things for us but for it we have to increase our trust and should believe that as in previous Halving the situation alters to positive response after some months so similar will happen in current halving also.

The price is better for making investments so don't use negative thoughts but if you have money then utilize your energy, knowledge and money to continue your investment to see the effects of halving.

Yes, that's right, currently market conditions are unstable, coin prices on exchanges tend to experience price declines, if it's like this then I prefer to prepare USDT and wait until the coin price drops further then buy it in large quantities.

[examplens]

If I may ask, why is the stagnation of the Bitcoin price considered a disappointment? Or, for example, the fact that the price did not react positively to some news like the HK ETF?

Does anyone really expect the value of Bitcoin to keep going up and only up? Isn't there an assumption that sometimes it will hit its maximum current value (supply/demand)?

[SmartGold01]

Does anyone really expect the value of Bitcoin to keep going up and only up? Isn't there an assumption that sometimes it will hit its maximum current value (supply/demand)?

This is where people are mixing it up about bitcoin, usually we aren't meant to panic over the price since we knew that it is inevitably to occur like price dip, a bit up or sideways most importantly we shouldn't think that bitcoin halving or HK spot ETF could easily hit the market in way that price would surge so quickly for people to gain extremely or above what they expected.

[hugeblack]

If I may ask, why is the stagnation of the Bitcoin price considered a disappointment? Or, for example, the fact that the price did not react positively to some news like the HK ETF?

Perhaps there is an effect, a price correction was supposed to bring us back to 48k to 52k, but we are at 60k.

[examplens]

This is where people are mixing it up about bitcoin, usually we aren't meant to panic over the price since we knew that it is inevitably to occur like price dip, a bit up or sideways most importantly we shouldn't think that bitcoin halving or HK spot ETF could easily hit the market in way that price would surge so quickly for people to gain extremely or above what they expected.

Pumping up stories about the constant growth of the value of Bitcoin, celebration when it reaches certain points, disappointment when the price does not go in the upward direction, all this is just part of the speculation of traders and those who are called investors.
what is much more important is what Bitcoin (and some other currencies) offers, which is that everyone can manage their own money, without banking protocols. Value growth is OK, but it shouldn't be the primary thing when we talk about Bitcoin.

Perhaps there is an effect, a price correction was supposed to bring us back to 48k to 52k, but we are at 60k.

From 2007 to 2008 I was engaged in Forex trading. It took me a long time to accept that good news is not necessarily a signal that the value of something will increase. Most often it is the other way around, at least in Forex it was mostly connected with human psychology and the mass reaction effect.

[NotATether]

If I may ask, why is the stagnation of the Bitcoin price considered a disappointment? Or, for example, the fact that the price did not react positively to some news like the HK ETF?

Does anyone really expect the value of Bitcoin to keep going up and only up? Isn't there an assumption that sometimes it will hit its maximum current value (supply/demand)?

LoyceV said it best in the other forum, two years ago he wrote how around the time when BTC is worth $100K, people are going to panic when it goes under $75K. I think that was in the Wall Observer thread. I'll see if I can find the exact quote for you.

At this point the corrections really don't matter if you are HODLing for many years.

[SmartGold01]

This is where people are mixing it up about bitcoin, usually we aren't meant to panic over the price since we knew that it is inevitably to occur like price dip, a bit up or sideways most importantly we shouldn't think that bitcoin halving or HK spot ETF could easily hit the market in way that price would surge so quickly for people to gain extremely or above what they expected.

Pumping up stories about the constant growth of the value of Bitcoin, celebration when it reaches certain points, disappointment when the price does not go in the upward direction, all this is just part of the speculation of traders and those who are called investors.
what is much more important is what Bitcoin (and some other currencies) offers, which is that everyone can manage their own money, without banking protocols. Value growth is OK, but it shouldn't be the primary thing when we talk about Bitcoin.

You are correct sir.. I think focusing on the long time projection of bitcoin could be the easiest way not to be affected by the unforeseen circumstances, which is something that we can't deal away from because investors always wants to give words that could regenerate the hope and trust of people to focused in bitcoin. As we know, bitcoin isn't a thing we should rush or expect to hit some certain amount within a limited time frame but if we focused on the long time run maybe not immediately then there will be no much worries or panicked whereby we could start seeing people to be affected by the increase and decrease in price, celebration when a new ATH is recorded and a rejection when the prices goes way back than expected.

[LUCKMCFLY]

Well, sometimes the effect is immediate because things with bitcoin usually take longer, it is entering a new market, an unexplored market and things can be better defined when they have to happen for operations to accept all this, the new technologies They are crucial and things have to happen when they have to happen, that is why when we seek to be more successful buying bitcoin, it is best, buy while you can, how will the price be affected? Yes, it is better to buy because when the price rises things will go much better, so given these things it can be intuited that later we can expect a good bullish rally, and if it happens it cannot happen.

Buying bitcoin does not make us successful, buying bitcoin will actually give us the opportunity to become rich, success will be achieved when we do something with the skills we have, I just think of buying bitcoin as saving money for the future.

Well, it is your point of view that things can happen that way , and I respect it, I say successful because yes, someone with money is successful, you can make any move and whether it is successful or not, but if you keep your bitcoin and everything that You can think about the future if you will be successful, because it is something that will always happen, but I consider that right now the Person who manages to accumulate all the Bitcoin they can will be something Impressive, of course it is something that I think and that can happen, I always I will say and advise with great Responsibility that it is best to buy bitcoin, because it is the safest way to save our money.

[bitterguy28]

don't worry bitcoin keeps acting like that for how many times now , since April ends bitcoin have this attitude of dropping below 60k and growing above again .
this is how bitcoin works nowadays and I'm happy to what is happening giving us small chance of making small profit from buying and selling.

[Faisal2202]

Spot ETFs allow investors to take exposure to cryptocurrency without having to own it. They are considered a better option than futures-based ETFs, which are subject to rollover costs.

Thanks for sharing this data with us, the reasons of the lesser volume in compared to USA ETFs are a lot, first the market of the US is bigger, they are the first who approve the ETF, so all eyes were on them. More eyes means more trading volume. Plus the hype was so much and I don't think people even knew about HK ETFs until they see the news that they have been approved.

If you were in the market from the start of this ETF drama, then you must have known the emotions of people and what they were thinking, assuming from BTC ETFs. I don't disappoint from this event, as I was not linked any hopes with them. I knew the hype is over, and market of HK has no match with the US one, that's why I did not hoped.

[Pastaral]

Bitcoin market is currently dumping.  But I didn't expect Bitcoin to do so badly after falling from 67K.  However the Bitcoin market cap is currently 56K.  However, I feel that the market situation may worsen a little more but it will not last for long.  A Bitcoin bull market is a period when the price of Bitcoin continues to rise and positive sentiment among investors influences.  Many investors in this market buy Bitcoin and expect its value to increase further.

[Stompix]

Well, revisiting this turned out as I expected.
You can't expect every single ETF right now, no matter the size of the market to have the same effect as the first one in the biggest market in the world.

HK went and did nothing, the one in Brazil probably went invisible for most of the users, so I doubt another one will make the headlines, unless it's China (highly improbable) or North Korea, this one just for giggles!

[0t3p0t]

don't worry bitcoin keeps acting like that for how many times now , since April ends bitcoin have this attitude of dropping below 60k and growing above again .
this is how bitcoin works nowadays and I'm happy to what is happening giving us small chance of making small profit from buying and selling.

Well trading especially in futures will let us gain profit regardless of trend so yeah it does not matter really on wherever prices goes but maybe it is true that the price reacts to recent news and hopefully this is just a healthy pullback and will not continue to go down as we can see on the daily timeframe that it has the chances to continuosly fall to like $52k+ to fill in the gaps and will retrace back up.