Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
⭐ Merited by El duderino_ (10)
The market seems to have found a price it’s happy with at the moment. We’ll have to wait for the ETF to scoop up all the free floating BTC and start hitting up public markets before another big move. It’s anyone’s guess how long that will take, but after this week we should have a little better idea about the ongoing demand.
Gold ETF had 9 mo of "chop" to a small down.
I'll give btc ETF half a time, which "coincidentally" would be at around halving
We could see a pop just prior a la May-June 2016 (it was a $439 to $763 "pop" back then or 74%).
I am not predicting the same %, but it could "rhyme".
I think one of the major differences with gold vs BTC is that everyone is aware of the halving and it's effect on supply and spot price. I think anyone looking at buying an ETF will want to get the most bang for their buck when the price finally stabilizes (looks like we are getting close to stable price again).
Then again, they may also want to see the buy action increase before diving in...