What if Bitcoin ETF is not Approved
Whereas optimism is high as regards the approval of Bitcoin ETF which could be a milestone for investor to come in. Bitcoin topped $42,000 in December 2023 and the yearly gain compared from 2021 to date is 160%. One major factor at play was the hope to list Bitcoin ETF which is a very progressive discussion between the Asset managers and the Securities and exchange commissions.
When we plan we plan for possible eventuality and please do not consider this negative bias. Wisdom Tree, BlackRock etc. has meet the criterial as said and are waiting for a positive signal. Should we bank on it. The question is still pondering in my mind if it doesn't go as suggested or the approval is denied what then happens?
I can only see a sudden fall if Bitcoin ETF is not approved and you may as well add your input on this. However, from now till 2026 will be promising for BTC as there would be favorable outcome. It is a game of patience.
If ETF is not approved, price won't crash significantly but it will go down because to my mind, whales will use that advantage and sell Bitcoins to keep profits, this will cause sudden price crash that will scare newbies and they will start panic selling, Bitcoin's price might go down to 30K, then whales will buy bitcoin from 30K and price will be stable between 30-35K for a long time and then god knows what news we will get. I think that people follow too much tweets and they act according to the hyped tweets, like, buy the dip before ETF gets approved. But somehow Bitcoin still can't keep higher than 45K USD price. It reaches that level but immediately goes down, I have no idea why that happens especially after so many hypes and expectations in the whole internet.