It is now clear to everyone that the growth from 2021 was cut off by monstrous manipulations of SBF and his ugly girlfriend. Elon Musk's ignorant tweets and behind-the-scenes sales of large amounts of bitcoins on his side also played a negative role. Now that these things have died down, the price naturally recovers. I personally do not see any signs of manipulations that aim to suppress the price or artificially pumping it. This is very good and the market is healthier compared to previous periods 6 months before the halving.

In 2021, we thought that institutions started buying, but we were wrong. Only Michael Saylor and his company were buying, and this continues to this day. Now there is also a danger of being mistaken that institutions are starting to buy. Things happen more slowly with them than we think. The ETF needs to start working first, and then we can talk about serious investments that will reflect the price.

We are still in the buy the rumor sell the news stage. New investors hope that there will be an ETF soon and it will lead to a quick profit. However, in the world of Bitcoin, things do not happen so quickly. There will be trials that few will endure. ETFs may or may not be around soon. And even if they are, there is no way that billions will go into them from the first day. There will be some frustration and people without the right vision will sell at a loss or a small profit. I personally hope that natural growth will continue, which will turn into real demand, including through ETFs. This should lead to the usual exponential growth in 1-2 years. Good foundations have been laid and this time there may not be any manipulators to stop it prematurely. If these do appear, I think it will be priced somewhere around 150K. If there are none, the price should exceed 200K sometime in 2025. But this is just my speculation. After all, since the beginning of the year the growth has been more than 100%, so we may also witness something unprecedented - a new ATH earlier than usual, for example around the halving.