Could BTC ETFs cause an Extended Cycle into 2022?

Could BTC ETFs cause an Extended Cycle into 2022?

By Feedmypsyche | DeepFCrypto | 4 Nov 2021

Today I wanted to take a step back and look at what's happening to Bitcoin. 

Up till now, I believed that we will see the cycle peak this month. But the more time passes the more I'm starting to doubt that. Here's why. 

What is causing BTC to be in a downtrend since Oct 20?

- ETFs. It's no coincidence that since ETFs were launched bitcoin is in a downtrend. Everyone thought that as soon as we hit ATH we will push through to 70k instantly. However, the launching of ETFs might have created a short-term problem. Institutional money is taking this opportunity to create a second accumulation phase. 

What's the way forward from here? 
Option 1 :
BTC might retest the support in this descending channel and we might see one of the biggest Altseasons yet. 
Option 2 : BTC will break out of this descending channel and hit new ATH in the coming days which might cause institutional money to FOMO back into btc rather than play around with ETFs

Ok, but what does this mean?

ETFs might be the reason why the cycle might extend into 2022 rather than the peak in 2021. No reason to panic, but definitely useful to stay updated during the coming days & weeks. 


 #btc  #TA  #ETF  #bullcycle  #bitcoin

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