Crypto Is Having A Hangover Post Bitcoin ETF Approvals

As we head into a new week, it feels like the crypto market is suffering from a bit of a hangover post Bitcoin ETF approvals.

 The hype is now over along with the ETF approval excitement and the crypto market feels a bit flat. 

 And the price of Bitcoin since approval reflects this mood perfectly.

 Bitcoin is down 2.43% over the past 7 days and most of the top 10 crypto coins are generally in the red. 

 But why is this happening?

 Well it is clear to me that the Bitcoin ETF narrative was a sell the news event.

 Investors poured money into Bitcoin in the months prior to the ETF decision and this has resulted in Bitcoin going on a strong rally to close out 2023. 

 And as soon as the news broke of the ETF decision, short term investors liquidated their positions to secure profits and hence why we are seeing Bitcoin down and the wider crypto market in the red.

 And after listening to many different opinions over the past few days, it seems that Bitcoin will see a gradual price decline over the coming months where Bitcoin could hit $30,000 by the spring. 

 However, it is far from doom and gloom because I think a price correction was inevitable and it also sets the stage for strong price rallies after Bitcoins halving on April 29th and into the second part of 2024. 

 Between now and Bitcoins halving, I think Bitcoin and the crypto market will be fairly flat as Bitcoins price gradually declines from the gains seen in the autumn. 

 It will only be the smaller crypto altcoins that will be seeing any meaningful gains over the next few months where investors load their positions into smaller altcoins ready for post Bitcoin halving explosive gains. 

 But this quiet period we are in will give savvy crypto investors an opportunity to find new crypto projects and load their positions prior to the market taking off again. 

 And if you want access to the very best crypto research and picks, why not check out Teeka Tiwari's Palm Beach Letter here. 

 To finish, this is only the calm before the crypto storm returns later on so take a breather but don't sleep on crypto because the bull run is only just beginning.

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