Quote from: MusaMohamed on Today at 02:31:33 AM

Quote from: arabspaceship123 on Today at 01:53:06 AM

Bitcoin didn't fly to the moon on the ETF news. It's surprising because btc lost value at a time when ppl talked about record price before halving so what's going to make it stop losing more value?

It's an example of "Buy the rumor, sell the news".

Bitcoin actually took off in last 4 months of 2023 and I really don't expect it to continue taking off more after Bitcoin Spot ETF approvals in January 2024. It makes sense if Bitcoin has correction after four continuous green months in 2023.

Corrections three months before halving in April 2024 are good and necessary to clean up the market for a big bull run after halving.

Saying bitcoin did not fly to the moon is not entirely true because on the first trading day of the bitcoin ETFs, bitcoin was also pushed to 48k$ before the correction occurred. It can be said that bitcoin had a positive reaction to the ETfs news but it could not maintain that for long.

And you're absolutely right, this correction isn't too surprising since bitcoin had been bullish for months before the ETF news was announced. People should have been careful with that instead of continuing to dream that bitcoin would go higher. Bitcoin's movement is based on buying and selling activity, not just on ETFs news, and if people pay attention to bitcoin's chart, they can see that bitcoin has risen too much and a correction is just a matter of time.