#BTC $BTC Reasons Why Bitcoin is Dumping after the historic spot ETF approval -
1) There was a strong speculation leading towards the ETF approval, now it’s approved that people don’t have anything to speculate on and many expected it to pump towards $55k after approval coz that didn’t happen people are just taking profits or selling in disappointment.
2) Bitcoin pumped from the Bottom of $15,400 to $49,000 with fomo elements of ETF so the correction was naturally due and this might be sell the news event for many who bought bitcoin earlier below $20k.
3) Money is moving from Bitcoin to ETH now. People are selling BTC and buying ETH coz they know ETH spot ETF is coming next and ETH hasn’t really pumped yet so they are moving to an undervalued asset.
Positives people are missing -
1) Bitcoin ETF in total did a $4.3 Billion In volume which is historical for any ETF in history.
2) Now Bitcoin is available all the Wall Street guy. So Over time trillions will flow into the market
3) Bitcoin ETF puts a trust in crypto.
My personal opinion - Bitcoin ETF will become more popular in Wall Street and we will see companies allocating billions to Bitcoin over time which will send BTC to $100k - $200k+ easily. So hold tight and be patient.
What is a Bitcoin Futures ETF?A bitcoin futures exchange-traded fund (ETF) issues publicly traded securities that offer exposure to the price movements of bitcoin futures contracts.Here’s how it works: An investment company creates a subsidiary that acts as a commodity pool. The pool in turn trades bitcoin futures contracts typically in an effort to mimic the spot price of bitcoin. But there are costs involved like “roll premiums” and management fees, among others. Plus, futures contracts don’t
🗣️ The 6 Most Important Things You Should Know in Order to Become a Crypto Millionaire
1-Prudently Utilize Leverage
I lost track of the number of times in 2021 that my futures trading accounts were liquidated due to huge leverage losses. Therefore, novices should stay away from leverage trading as it isn't essential for making money in the bitcoin market.
2-Applying the EMA to Help You Make Smart Choices
I learnt to utilize the exponential moving average (EMA) to make educated buying and selling choices after my bad experience in 2021. The 20-day and 200-day exponential moving averages are now always shown on my chart.
3-Gain Expertise in the Science and Art of Making Money : Making Money
One of my earlier pieces highlighted how my 2021 gains were wiped out by greed. The tactics that the majority of institutional investors use to maximize returns are, nevertheless, ones that I have mastered.
4-During a bull market, pullbacks provide opportunities.
You need to be aware that the cryptocurrency market does not follow a straight line if you want to invest in it. The market still has sales even when the market is doing well.
5-Give Up Seeking 100x Returns
I made a few cryptocurrency investments in 2021 that returned ten to twenty times my initial investment. Unfortunately, I lost more money than I earned due to my avarice.
6-Contrast a Trading Portfolio with an Investment Portfolio
I followed the advice of short-term traders and handled my investing portfolio like a trading portfolio during the last crypto cycle.