All of us who have BBS tokens are interested in the price of our tokens.

As often is the case, when the price of BTC collapse, the price of Altcoins fall even more.

As a relatively small and unknown token, the price of our BBS tokens fell by even more than the average fall in Altcoins. Although the price of BBS has more than doubled from its All Time Low, we are still lagging compared to the recovery of the price of BTC. Hopefully BTC will continue to rise and with it BBS will also rise.

https://www.youtube.com/live/m-P10tMmZbM?si=mpD1NlNmNIJwS6tS

There was much hype over the approval of BTC spot ETF. The price of BTC rose substantially in anticipation of the approval. Those who are new to cryptos and bought BTC because of the hype may have been disappointed that after approval BTC suffered a price correction.

There are 2 factors that led to the price correction.

Firstly, the price has risen substantially before the ETF approval and so has already priced in the approval. What market players call "Buy the rumors, sell the news".

After the correction BTC will find a base from which it can then rise again to new heights.

Secondly there is the selling of BTC by Greyscale. Greyscale is one of the parties that had been approved to have a spot BTC ETF. But prior to that, it already had a BTC trust which held huge amounts of BTC. probably the largest holder of BTC and having more BTC than whales like Michael Saylor and Elon Musk/Tesla.

Those who bought into the Greyscale Trust had done so at a time when the price of BTC was low and often at a discount of up to 30% to the prevailing price of BTC. Such buyers benefitted from both the increase in price of BTC and the reversal of the discount. Selling of the trust by such buyers to cash out such gains contributed to the selling of BTC by Greyscale.

For some time, the selling by Greyscale negated the buying of BTC by Black Rock, Fidelity, ARK and other smaller BTC ETF's. The selling by Greyscale has now dwindled and the buying by the other ETF players is now pushing the price of BTC up.

In previous cycles, rallies in BTC are driven by retail investors. Institutional investors have stayed away or is not allowed by law or their constitutions to buy BTC. The approval of Spot BTC ETF's has now made it possible for Institutional investors to purchase via the ETF'S. This has greatly increased the funds that may be committed to BTC.

Another positive factor for BTC is the impending halving for BTC in April. In previous halving cycles most of the price increase of BTC occurs after the effect on the reduction in supply of new BTC caused by the halving is felt. This does not take place immediately on halving but builds up over time (lasting around 500 days) .

Prior to the halving, there is usually a build up rally followed by a correction period. The pre halving rally will take out the 0.618 Fibonacci retracement from the fall from the All Time High of $69K.

Combining the ETF approval with the usual halving cycle has seen the price of BTC rising faster pre halving then in previous cycles. Yesterday surge above $50K has taken out the 0.618 Fibonacci retracement when it is more than 2 months to the halving.

WILL THE PRE HALVING RALLY ALSO TAKE OUT THE NEXT FIBONACCI RETRACEMENT LEVEL?

WILL THE PRE HALVING CORRECTION BE MILDER THAN USUAL?

George of CryptoRus thinks so and predicts a BTC price of $60K within the next 2 weeks.