Why is BTC price decreasing now?
- Thread starter awesomewebsites
- Start date
EconOnMe
Newbie
- Jan 9, 2024
- 13
- 7
Yes, this is accurate. Expect movements as the halving gets closer.
- Aug 1, 2022
- 2,487
- 415
SOL is named as a security, so no, ETF won't happen, and it's very irresponsible to shill to begin with.
Not to mention it's totally a VC coin and centralized blockchain which had downtime multiple times (lol). Look into how SOL is so cheap to transact to begin with.
ETH is questionable, but I believe it's only a matter of time it's named as a security as well (due to ETHgate, google.)
- Mar 21, 2013
- 24,780
- 31,549
Is it?
- Aug 1, 2022
- 2,487
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- Nov 16, 2011
- 19,800
- 11,280
If BTC etf could not push them up, I cannot bet on an alt coin etf pushing them up now.
- Jun 15, 2019
- 8,892
- 4,394
Its 41k. Now I Think every time some event happens that is supposed to increase its price, BTC plays opposite and always goes down.
- Sep 25, 2013
- 4,705
- 2,701
SOL at 750$ would be around current Ethereum marketcap if not higher. (It's not happening)
You'd be lucky to reach 400$ this cycle with how hyper inflation works on Solana lol:
An easy example is basically knowing that the previous ATH of 260$, if you wanted to reach the same marketcap now, all it would take is for Solana to reach ~210$ due to hyper inflation
- Aug 1, 2022
- 2,487
- 415
There is absolutely no reason why BTC ETF would have immediately impacted the price, especially how the approval went down (the hacked SEC account).
There are many factors that are suppressing the price, ETF is no magic tool, just another way of bringing in money, so if GBTC outflows (which are huge) are higher than inflows at the time being (which are huge also), price goes down. Not to mention miners selling massively too.
Of course, the BTC ETF news itself were obviously priced in, everyone expected the approval. Do not forget that BTC appreciated like 3x in 1 year already.
However, the BTC ETF impact is yet to be seen and I'd say we should get back to these messages after 1 year from now to see the actual outcome..
My two cents
Ingolumb
BANNED
- Jan 19, 2023
- 121
- 75
No, ETF is not useless. The price will go up later. Always invest the money that you can afford to lose.
Cloaked Gambler
BANNED
- Jan 7, 2023
- 710
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Crypto goes up. Then down a little. Up again. Sometimes it crashes. But it always goes up in the end. According to history at least...this applies to BTC, not to shitcoins.
- Mar 21, 2013
- 24,780
- 31,549
Pretty sure that article is misleading. In a court case, the SEC lawyers aregued they think those are securities. But they haven't ruled on it yet as far as I know
girlwithoneleg
Newbie
- Jan 22, 2024
- 17
- 11
because all the investors who are crucial for ETFs have been hiding for a long time. The big companies like Blackrock knew that the ETF would be approved long before then. Now everyone is waiting for day X. Then things will really get going again...
UnMak3r
BANNED
- Nov 22, 2023
- 16
- 8
Zoom out, do you see a negative trend?
BTC isn’t made for looking at weekly/monthly charts. if you’re holding for 4/5 years you’re pretty much bound to make a guaranteed profit.
- Nov 16, 2011
- 19,800
- 11,280
It needs a lot of patience and very deep pockets to wait that much. This is because in 5 years, you will need the money many times.
F1SH
BANNED
- Dec 1, 2023
- 13
- 7
That’s why people say “don’t invest money you’re not willing to lose”. And you shouldn’t invest either way without a proper emergency fund available for unexpected expenses. pulling unplanned money from investments is always a bad idea.
Bilalkhatri12
Banned-Spam
- Oct 26, 2022
- 25
- 3
I hope it drops to 7.5k.
F1SH
BANNED
- Dec 1, 2023
- 13
- 7
The chances of you getting hit by lightning, twice - are higher than bitcoin going to 7K at this point.I hope it drops to 7.5k.
- Apr 25, 2011
- 19,848
- 28,295
Buy the rumour, sell the news. The way I understand it is that over the past few months the price has been moving up steadily. At the time there are various explanations for this but in reality it was probably a large part to do with the impending ETF approvals. But because the price rises so steadily over a long time people dont neccesarily attribute it to that. So when that ETF gets approved, everyone is expecting the price to rise but in reality that positive event has already been fully priced in - so the price of bitcoin already reflects that positive event before its even happened.
Therefor when it does happen, the price doesnt go up any more and because of this, everyone that was expecting it to go up gets disheartened and probably sells some of their BTC. Meanwhile, the people that were smart enough to know about the above, had already made 25% in the past few months and so they sell at this point, then the price starts to fall because there are more sellers than buyers.
Therefor when it does happen, the price doesnt go up any more and because of this, everyone that was expecting it to go up gets disheartened and probably sells some of their BTC. Meanwhile, the people that were smart enough to know about the above, had already made 25% in the past few months and so they sell at this point, then the price starts to fall because there are more sellers than buyers.