Quote from: pawel7777 on Today at 03:17:34 PM

Quote from: edward500 on January 14, 2024, 11:27:04 PM

We can see the price crashing since its release.

I would think that it will take a while for the ETF's to have any impact because they were just released.

Crash, if you can call it that, was likely due to people "buying the rumours and selling the news". i.e. those who loaded up earlier when approval of ETFs was uncertain are now taking their profits. Many will be looking to buy back at lower levels.

As for the actual, non-speculative, impact of ETFs - this will be delayed in time. Current demand is probably mostly satisfied with over-the-counter (OTC) deals (e.g. Coinbase's own stash) or bitcoins acquired earlier by the ETFs issuers. Once those run out, they'll have to start buying on the market, driving the price up.

Perhaps it was just a minor dip, because as you have said, they buy the rumor, sell the news and many fall for that trap or trick. Nevertheless, still good to hear that those ETF's are finally approved, at least we can move on and wait for the halving now as this is the most important events to follow.

Of course, the effect might be delayed, but I speculate that once the halving is done and we commence a bull run, many are going to FOMO on the ETF and it could be the biggest factor for this bull run this year or at least this cycle going into $100k or more.