{"id":354653,"date":"2021-10-19T00:35:00","date_gmt":"2021-10-18T21:35:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/heres-why-analysts-are-saying-no-fomo-ahead-of-bitcoins-etf-launch\/"},"modified":"2021-10-19T00:35:00","modified_gmt":"2021-10-18T21:35:00","slug":"heres-why-analysts-are-saying-no-fomo-ahead-of-bitcoins-etf-launch","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/heres-why-analysts-are-saying-no-fomo-ahead-of-bitcoins-etf-launch\/","title":{"rendered":"# Here\u2019s why analysts are saying \u2018No FOMO\u2019 ahead of Bitcoin\u2019s ETF launch"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3f9cfb116ef\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3f9cfb116ef\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/heres-why-analysts-are-saying-no-fomo-ahead-of-bitcoins-etf-launch\/#A_higher_low_would_be_%E2%80%9Cnormal%E2%80%9D_price_action\" >A higher low would be &#8220;normal&#8221; price action<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/heres-why-analysts-are-saying-no-fomo-ahead-of-bitcoins-etf-launch\/#FOMO_buyers_beware\" >FOMO buyers beware<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/heres-why-analysts-are-saying-no-fomo-ahead-of-bitcoins-etf-launch\/#90K_BTC_price_if_the_classic_cup_and_handle_formation_plays_out\" >$90K BTC price if the classic cup and handle formation plays out<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Here\u2019s why analysts are saying \u2018No FOMO\u2019 ahead of Bitcoin\u2019s ETF launch <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>The day the crypto traders have long-awaited is almost here. At the opening bell on Oct. 19, a ProShares futures-based BTC ETF is scheduled to launch and analysts are predicting that additional ETFs will rollout over the coming week.\u00a0<\/p>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/\">TradingView<\/a> shows that an early morning attempt by bears to drop the price back below $60,000 was well defended by traders and at the time of writing their is a tug-o-war at the $61,000 to $62,000 zone.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/bf250d14-e77b-4d04-8bb7-5181f37331e2.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USDT 1-day chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>While many have predicted that the ETF launch is the fuel needed to push BTC to the $100,000 mark, not all analysts agree and some warn that the event could be another \u201cbuy the rumor, sell the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>\u201d event.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"A_higher_low_would_be_%E2%80%9Cnormal%E2%80%9D_price_action\"><\/span>A higher low would be &#8220;normal&#8221; price action<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>One trader who is not completely enamored with the idea of a BTC futures ETF is pseudonymous <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> user \u2018Cry me a $COIN\u2019, who posted the following tweet suggesting that the recent BTC price action is merely part of a normal price cycle. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I don&#8217;t like the &#8220;ETF will be\/has been <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roved. WAGMI&#8221; vibe.<\/p>\n<p>Don&#8217;t be surprised with a higher low. It will change nothing, and that is the beauty of it.<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/HJ6GyZtaMr\">pic.twitter.com\/HJ6GyZtaMr<\/a><\/p>\n<p>\u2014 cry me a $COIN (@crymeaCOIN) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/crymeaCOIN\/status\/1449773882106335234?ref_src=twsrc%5Etfw\">October 17, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to the price path outlined in the chart above, there\u2019s a chance that Bitcoin tops out below $68,000 in the next few months before heading lower to establish a higher low near $46,000.<\/p>\n<p>A similar sentiment was <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CanteringClark\/status\/1450124940498415616\">expressed<\/a> by &#8216;Ryan Cantering Clark\u2019, who suggested that up to now, \u201cthe trade has been &#8220;long ETF approval&#8221; and we are here, so what else in the short term takes us much higher?\u201d<\/p>\n<p>Clark said:<\/p>\n<blockquote><p>\u201cEveryone knows where this is going, so in the short term I think we get a deeper pullback.\u201d<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"FOMO_buyers_beware\"><\/span>FOMO buyers beware<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A deeper analysis of what could possibly come next was provided by David Lifchitz, managing partner and chief investment officer at ExoAlpha. Lifchitz suggested that a small pullback might be in order, \u201cespecially after the torrid run from $40,000 just two weeks ago,\u201d which translated into a BTC increase of 50%. <\/p>\n<p>While Lifchitz suggested that \u201cthe medium-term looks definitely higher,\u201d the analyst offered a word of caution for potential buyers by saying, \u201cthese Bitcoin ETFs based on CME futures to track BTC price will underperform Bitcoin spot price due to ongoing futures roll costs.\u201d<\/p>\n<p>According to Lifchitz, professional traders are likely to continue using Bitcoin CME futures or crypto derivative exchanges for their trading needs while \u201clong-time crypto investors are all well equipped to directly trade and store Bitcoin spot.\u201d <\/p>\n<p>Lifchitz said:<\/p>\n<blockquote><p>\u201cSo these ETFs will likely be an easy Bitcoin access to unsophisticated retail investors with their broker accounts, who will not get the full return of BTC after all fees are accounted for. These ETFs will also bring arbitrage opportunities for smart traders. Wall Street at its best.\u201d<\/p><\/blockquote>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Bitcoin RSI strength suggests BTC price is still far from its cycle top<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"90K_BTC_price_if_the_classic_cup_and_handle_formation_plays_out\"><\/span>$90K BTC price if the classic cup and handle formation plays out<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A final scenario to be on the lookout for was offered by pseudonymous Twitter user \u2018Nunya Bizniz\u2019, who posted the following tweet outlining a bullish scenario for Bitcoin\u2019s price action. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">BTC daily:<\/p>\n<p>&#8220;IF&#8221; there is going to be a correction, perhaps something like this?<\/p>\n<p>Giant cup and handle.<\/p>\n<p>What do you think? <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/LPSQ0320zl\">pic.twitter.com\/LPSQ0320zl<\/a><\/p>\n<p>\u2014 Nunya Bizniz (@Pladizow) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Pladizow\/status\/1450114384634781701?ref_src=twsrc%5Etfw\">October 18, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As seen in the chart provided, the analyst suggested that BTC price has the potential to drop back to the $53,000 support in the near term before resuming its uptrend.\u00a0<\/p>\n<p>The trader believes that after the price pulls back to touch underlying support, BTC could then <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Pladizow\/status\/1450115553037783046\">squeeze up to $98,000<\/a>.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/ed2616ca-d40e-43c3-803c-6fdebb4eacd6.jpg\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-day chart. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>The overall cryptocurrency market cap now stands at $2.463 trillion and Bitcoin\u2019s dominance rate is 47.3%.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/here-s-why-analysts-are-saying-no-fomo-ahead-of-bitcoin-s-etf-launch\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Here\u2019s why analysts are saying \u2018No FOMO\u2019 ahead of Bitcoin\u2019s ETF launch &#8221; The day the crypto traders have long-awaited is almost here. At the opening bell on Oct. 19, a ProShares futures-based BTC ETF is scheduled to launch and analysts are predicting that additional ETFs will rollout over the coming week.\u00a0 Data from&#8230;<\/p>\n","protected":false},"author":1,"featured_media":354654,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTAvZTBmYWE4NDItNDM1OS00MjliLTg5NDAtNGQ3NmE3ZTk2YTI4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74972,74937,74863,75849,75150,73785],"class_list":["post-354653","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-futures","tag-bitcoin-price","tag-cryptocurrencies","tag-etf","tag-market-update","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/354653","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=354653"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/354653\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/354654"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=354653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=354653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=354653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}