Bitcoin Price Could Drop After ETF Approval, Analyst Warns
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Macro strategist Jim Bianco says Bitcoin price could drop after spot ETF approval, like Facebook's IPO in 2012.
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Facebook stock initially traded at $28 but then dropped to $11 after highly anticipated IPO.
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Bianco worries Bitcoin may rally briefly after ETF approval but then price could drift lower.
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At time of writing, Bitcoin is priced at $37,002.
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Bianco compares potential Bitcoin price action to inefficient traditional finance markets.