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RE: Despite market optimism I still don't think we bottomed 📉🤔
If the ETF gets approved, then I think the bottom is in. If not, then you may be right, and we could see some pretty big downward movement. Nice post.
I think the ETF approval could boost us up higher, up to 10K. But even if it is approved it is going to take months, if not a year, before the ETF actually starts trading real Bitcoin. During this year the 'crypto winter' could occur.
We have to keep in mind that ETF's also have managers in charge who are charged with the job of buying at the best price. ETF's benefit greatly if by the time they become active, the price is lower.