BTC: Flying Past 45k
BTC was trending on Twitter in the early hours of today and quite surprising too. However, there's a corresponding cause; the spot ETFs. A lot of people expected a correction. In fact the chart experts and analysts have predicted a pullback or a temporary bearish start to the beginning of the year, and this hasn't happened.
There's this circulation that the spot ETF might just be four days away, and this probably means that the pump is not natural, or this news is just a corresponding response to the news that the SEC and Gensler are finally bending the knee and approving the spot ETF.
It's probably quite early, and I'm sure a lot of people might be looking at February or March before this will happen, but if eventually the approval happens in January, then BTC might just break 50k before the end of January.
Irrespective of the intent or purpose of the ETF, we're seeing how much of an impact it's having on the sentiment of potential investors. Some people are seeing it as a parameter to predict the certainty of the bull market. There's dumb money in crypto, and this is proven by how far people are willing to throw money provided some certain things can happen.
Make no mistake, we're still going to see some pullbacks, and this is because of the pattern of the market.
The market pattern is inevitable
and also because some people are taking profit at this price. However, if the news of the ETF continues strongly, then the price of BTC might continue gallivanting till there's a negative price correlation. At this point, I don't know how far BTC will go up, but if the ETF is not approved in 4 days like it's being touted then we might not dip in price. I for one, do not the the approval will happen in four days.
It's still early
and I believe a lot of framework and structural parameters need to be put in place and there are so many bodies that need to be in synchrony for this to happen and I just don't believe or think that it's going to happen quickly in four days time, but I might just be completely wrong.
Unpopular opinion
I feel like the halving might even happen before the approvals happen, but like I said earlier, I might just be completely wrong, as no one has cogent access to what's internally happening between Blackrock and the SEC.
However, whenever price is going up, it's always a positive thing irrespective of the cause; whether it's a false bull or a true bull. Price moving up is proof that something good is happening somewhere, even if a pullback might happen, it still leaves that sentimental aura that something good might happen to the market after all.
So 45k is amazing, irrespective of the cause, we also know that the alts are still lagging, but BTC is also responding the the fact that we're completely off the bear market.
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Just received a notification from BCH wallet it says BTC pump upto 7% and reaches at 45k Usd...
I can smell a huge pump still is on the way.
Of course, it's there and visible to see
It was a nice pump but I don’t know if it was related to the ETF or what. I’m still a little disappointed people are so thirsty to get that in place, we don’t need it! “Be careful what you wish for” is something so many people don’t take heed to anymore.
I think it's related, suddenly the news of the spot ETFs approval is everywhere and suddenly BTC is pumping. It's sentiment if you ask me. A lot of people are really into this approval, however there's nothing much than to enjoy the pump.
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I think on a bull market, specially with BTC all trying to play the short or waiting for dips is a fools game, yes there will be corrections here an there but until history changes, we are close to the halving and after that happens the markets gets about 10 months of pure bullishness, 2024 is going to be great for crypto and for Hive, with the awareness of crypto now days, it would not be crazy to see it close to ATH before halving, good times ahead 💪🤑
If we see BTC's ATH before the halving, this generally means that the expectations might exceed what everyone currently has. But it's probably going to be a long shot. Not to overule it, but truly anything can happen to BTC from now till the halving, it's still less than a month away.
As for hive, yeah, I also believe a lot will happen to Hive in 2024
Hmm
This is fantastic
Let’s see if it will get to $50k
I’d be glad
Nice move for Bitcoin getting over $45k right in the beginning of 2024, hopefully it will be a sign for the entire year.
Hopefully too, I think it's a good sign, but we might see some corrections along the way, but I agree with you that it's a good start.
The hope over BTC never gets old but I do agree that the halving will probably happen first. With Gensler there, that ETF will probably get delayed. I do think it will happen eventually though.
I agree, with what Gensler is currently doing, I don't doubt if the halving halving happens first.
It has been reported a little while ago that the ETF is not being approved yet, due to which we have seen a decrease of five thousand dollars in the market, so it was a good opportunity to shop.