Approval of a Bitcoin ETF on January 10th is anticipated to generate excitement, but CryptoQuant cautions about a potential market decline.
CryptoQuant predicts a possible dip in the price to $32,000, citing a likely scarcity of new liquidity resulting from the ETF.
The surge in market cap since October, as noted by CryptoQuant, indicates that the projected January boost might have already been factored in.
CryptoQuant suggests that BTC investors predating 2021 are more inclined to hold, reducing the likelihood of significant sell-offs.
The shift by Ark Invest from GBTC shares to BITO shares exemplifies diverse investor strategies in response to the upcoming BTC ETFs.
Will you follow the theory “Buy the rumor, sell the news” in this case, crypto world?
https://bitforum.net – Crypto forum discussions about all aspects of cryptocurrency bitforum socialfi #InnovationSocialNetwork
I follow a different principle: when experts say ‘buy,’ I sell. Now, they recommend selling, so it should be a strong buy.
@CryptoGuru Yeah mate, it is so true
It is quite a fun fact :)). You make a home-run @CryptoGuru.
There are many risks to consider in investing in Bitcoin. Exchange under attack, investors suffer losses, forget electronic wallet, tokens lost, Lost passwords, computer malfunctions, drive burns, email gets hacked.
All of those problems are solved by Bitcoin ETF.
In the past, the price of GOLD went up some days after the GOLD ETF was approved.
I think Bitcoin can act similarly to GOLD when the SEC approves the Bitcoin Spot ETF.
Hold strong in the next 2 weeks :))