We expected the bull run to happen on or just before the approval of the ETF, but the reverse was absolutely the case. We saw a price pump on the market when the news for the Bitcoin ETF to be approved became highly positive, and just after its approval, we saw some drops on the market, and Bitcoin has not reached the $70k level since that drop.
With the way the market is going, if Bitcoin can cross down to $75k again before the year runs out, I think we can be sure of $80k also being secured, but $100k for 2024 is something I'm not certain about, but it can be possible in the 1st Quarter of 2025; it's just speculation anyway, and high hopes should not be put on them.
I remember the price went to 70k after the approval not before, am I remembering it wrong? I mean maybe I am, but looking at the dates, it feels like the 70k+ all time high price happened after the ETF became a thing and people started to invest into them, not beforehand so that means ETF was a good thing to increase the price.
In any case, we have it now and that's in the past and I believe with a bull run, not only retail investors like me would keep on investing and there will be hype in the crypto market, but there will also be a lot of super wealthy people who will invest billions into ETF's as well, which in return will make these companies buy bitcoin to cover 1t1 ratio as well. This is why I believe in our future and a 100k+ price.
If I remember correctly when the bitcoin ETF was approved and 2 weeks later, bitcoin price increased strongly and reached $73k before there was a pullback. Then the halving happened and people started thinking about a bigger bull run but things didn't go as expected and they started complaining about ETFs for not being able to create a surprise.
I don't know how everyone else is predicting but for me, $100k is not a very difficult target to achieve in this cycle. I believe Bitcoin could even hit $150k-180k in this cycle. But honestly, I hope everything happens next year and not this year.