What happened the right after approving spot BTC ETFs by the 🇺🇸 SEC?
The BTC(Bitcoin) price had decreased for around 2 weeks. Then, the price had shown parabolic.
Yesterday, the first spot BTCÐ(Ethereum) ETFs were approved by the 🇭🇰 regulatory authority. However, the price has not much reacted yet. I think it takes time for the next jump, and this aprroval made the momentum for BTC to go to $100k in the mid-term(less 1 year).
Additionally, we're about to encounter the next BTC 4th halving, around 3 days left. Some Chinese investors may want to check the trend of the price movement after the halving. So, I'm not much worried about that.
on X(Formerly, Twitter)
Take a look at the past BTC price movement. After the 2nd and 3rd halving dates, the monthly BTC price candlesticks has not been much bullish. If this cycle pattern follows the past pattern, we will see the bullish market after Aug, 2024.
Market participants anticipate that the first federal funds rate cut will start since Sep. I agree somewhat. The CPI(Consumer Price Index) started increasing again. I think if the BTC price meets the first rate cut without a recession, it will be huge bullish.
Last cycle, my patience rewarded me who had endured 3 years from 2018 ~ 2020. I think this cycle is not much different to the last cycle. I hope that you also will succeed and enjoy the prosperity in this cycle 🙏
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