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jtipt

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Quote from: CriminologyProf on March 01, 2017, 05:02:06 PM

Does anyone think the price will tank again as it did after the issues in China if the EFT fails to be approved? I'm feeling that the current price rally is mostly due to people hoping for the approval and that the moment it is canned, the price will fall back down to $800 or lower.

Thoughts?

Yeah a tank is definitely gonna come if ETF gets disapproved, going back all the way to $800 seems like a little too much. I was expecting an around $1000 price may be in the range of $950s.

lordquanta

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By looking at growth rate of bitcoin price, there is no co-relation between price hike and ETF approval. Rate is rising by like it buyers have been affected with FUD virus. Manipulators have done their job, now it is rest of herd which is following the trail.

talkbitcoin

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All I know is that I know nothing.

it is funny how some people give too much power to something with no power to affect price!

yeah at this point since every person on the planet knows about ETF and it is being talked about to death, the approval/disapproval of it matters. if you stop talking about it then it won't.

and price will be affected because people expect it to be affected otherwise there is no new money coming in because of ETF approval and there is no money existing because of ETF disapproval.

in the end it would be whales manipulating people with weak hands to sell their coins cheap by saying things like what OP said ($800) and then those weak hands will be left waiting for that price while dip is down to a couple of hundred dollar above their target!

ASHLIUSZ

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Price drop is something that happens with bitcoin without any prior notification. I too believe the same that the ongoing price rally is taking place in regards to the ETF. So depending on that we'll experience price fall or a steep increase. Also possibility of ETF approval is high than denying. So let's hope for a positive impact.

Deanero

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Quote from: RoommateAgreement on March 02, 2017, 03:11:56 AM

Quote from: CriminologyProf on March 01, 2017, 05:02:06 PM

the moment it is canned, the price will fall back down to $800 or lower.

why $800? because to me it sounds like a random number you just put in your comment to have said something. there is no reason for price to go that low.
you think thousands of day traders who are currently waiting so eagerly to buy bitcoin at $1200 are going to let price go lower than $1100.
or did you think thousands of other traders that are long are going to wait around and let the price go lower than $1000?

no they are all going to jump in and buy. this is called resistance and demand.
i am going to sell my house and buy bitcoin with all of it if price goes to $900 let alone $800 at that price i will sell my kidneys too Cheesy

at $800, I'll sell my teeth!!

RoommateAgreement

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Bazinga!

Quote from: CriminologyProf on March 01, 2017, 05:02:06 PM

the moment it is canned, the price will fall back down to $800 or lower.

why $800? because to me it sounds like a random number you just put in your comment to have said something. there is no reason for price to go that low.
you think thousands of day traders who are currently waiting so eagerly to buy bitcoin at $1200 are going to let price go lower than $1100.
or did you think thousands of other traders that are long are going to wait around and let the price go lower than $1000?

no they are all going to jump in and buy. this is called resistance and demand.
i am going to sell my house and buy bitcoin with all of it if price goes to $900 let alone $800 at that price i will sell my kidneys too Cheesy

Carlsen

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From all I have heared, the chances of ETF getting not approved is relatively high.
So I don't think that there are high amounts betted on an approval of ETF.
Maybe a small decrease of price will happen, but nothing dramatical.
I think it will all stay in the range of normal fluctuations of bitcoin price.

Deanero

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Quote from: slapper on March 02, 2017, 01:22:45 AM

well, perhaps there will be a dip if ETF is not approved. Bitcoin is influenced by many events on this planet and ETF is one of the biggest impacts to Bitcoin and if there was not ETF, bitcoin would have to wait for another year for bitcoin to cross over $1200. Hopefully, it won't happen and thanks to ETF, the prices of Bitcoin keep increasing over the past few months

I've been doing a lot of reading on this ETF event. In my opinion, it is very unlikely to happen and the price will dip when it doesn't happen.

Analysts predict it could dip to anywhere between $1000 & $850, but wont last for long. They recommend to buy the dip. I'll be doing the same.

wry

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If you look at the COIN prospectus it says they have about 169,000 bitcoins or 1.06% of total supply held in trust. I'm guessing this is most of the Winklevoss stash. If it doesn't get approved some of those coins may return to the market.

Also at least some BTC has been locked up on on the Chinese exchanges. Those BTC can be withdrawn around mid March as well. Maybe a non-event, but again, something to consider.

I think the real value of the ETF has been that it has taken the spotlight off other, less flattering, bitcoin news items like the block size debate.

In the meantime I am enjoying the price rise!

slapper

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well, perhaps there will be a dip if ETF is not approved. Bitcoin is influenced by many events on this planet and ETF is one of the biggest impacts to Bitcoin and if there was not ETF, bitcoin would have to wait for another year for bitcoin to cross over $1200. Hopefully, it won't happen and thanks to ETF, the prices of Bitcoin keep increasing over the past few months

Herbert2020

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a while back when price was very low at $400 or less, and the ETF guys were buying bitcoin and injecting the huge amount of money into bitcoin nobody knew about it.
then again when price was trying to break $800 (OP's target) nobody around here even knew something called ETF exists. again when $1000 resistance was being broken not so long ago.

and we are still on the same path. nothing has changed and price is still rising because the rest of the world and those who are still investing in bitcoin or start investing in bitcoin today don't know and care about ETF. bitcoin is still the same as it was back at $200 and and there is still going to be the same limited amount of it available with or without ETF or any other crap like it.

MNDan

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Yes - and I'm ready to buy it. 900 target.

pooya87

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Quote from: CriminologyProf on March 01, 2017, 05:02:06 PM

Does anyone think the price will tank again as it did after the issues in China if the EFT fails to be approved? I'm feeling that the current price rally is mostly due to people hoping for the approval and that the moment it is canned, the price will fall back down to $800 or lower.

Thoughts?

no the price rise is not only because of the expectation of ETF, even without existence of ETF price would have gone up to $1200 by now. take a look at the history and you see this rise is too small compared to last year's for example.

and no you can see 3 digits in your dreams only. it can never happen again. but price can drop if ETF is not approved but the lowest it can ever get is $1100 and if you are super lucky $1050

uneng

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Yes, it's very possible to happen, be ready to buy bitcoins if the price dip. If you are not ready to buy bitcoins and won't to lose profit, sell it before the ETF be approved or not and buy again later when you can.
But don't worry too much, bitcoin won't die if it's approved or not. It's not very important anyway, there are solutions for everything, especially about crypto currency, if it's not the solution, another will appear.

swogerino

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More than likely there will be one since the markets are not set for it and all are getting ready for it to be approved.
So it will cause unsettlement.

Winner

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Quote from: BitcoinNewsMagazine on March 01, 2017, 06:59:31 PM

Quote from: shinratensei_ on March 01, 2017, 06:27:26 PM

Quote from: CriminologyProf on March 01, 2017, 05:02:06 PM

Does anyone think the price will tank again as it did after the issues in China if the EFT fails to be approved? I'm feeling that the current price rally is mostly due to people hoping for the approval and that the moment it is canned, the price will fall back down to $800 or lower.

Thoughts?

Yes it does, It will get the red candle if SEC tries to give the next delay to approve bitcoin. But i will not agree with you if the price of bitcoin decrease below $1000. and i think it will never happen in the future.

Bitcoin price dropped $250 in one day back on January 4 so a sub $1000 flash crash is very possible if COIN is denied. I think $980 is possible and $920 less likely.

That is possible, anything could happen when it comes to Bitcoin BTC.

Most of the Altcoins are dropping because of the price increase of BTC. A few years ago, people thought that Litecoin [LTC] was going to join in on the price rise of Bitcoin and if Bitcoin gets cheaper than Litecoin will be cheap as well.

As we could see now, LTC is only $3.772 and the price of LTC didn't get a dramatic price increase like Bitcoin.

So anything could happen.

BitcoinNewsMagazine

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Quote from: shinratensei_ on March 01, 2017, 06:27:26 PM

Quote from: CriminologyProf on March 01, 2017, 05:02:06 PM

Does anyone think the price will tank again as it did after the issues in China if the EFT fails to be approved? I'm feeling that the current price rally is mostly due to people hoping for the approval and that the moment it is canned, the price will fall back down to $800 or lower.

Thoughts?

Yes it does, It will get the red candle if SEC tries to give the next delay to approve bitcoin. But i will not agree with you if the price of bitcoin decrease below $1000. and i think it will never happen in the future.

Bitcoin price dropped $250 in one day back on January 4 so a sub $1000 flash crash is very possible if COIN is denied. I think $980 is possible and $920 less likely.

cryp24x

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Definitely, price will crash when ETF is rejected, the once hype and price increase will become a bubble, then the rejection will be the pin to burst. The damage depends on how the whales wanted to manipulate it. If whales ride the negative news then we can see the price to deep more than the normal effect.

CalCoins

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I can't see any other scenario unfolding if it gets rejected. The question is how much of a dip? And for how long?

Winner

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Quote from: shinratensei_ on March 01, 2017, 06:27:26 PM

Quote from: CriminologyProf on March 01, 2017, 05:02:06 PM

Does anyone think the price will tank again as it did after the issues in China if the EFT fails to be approved? I'm feeling that the current price rally is mostly due to people hoping for the approval and that the moment it is canned, the price will fall back down to $800 or lower.

Thoughts?

Yes it does, It will get the red candle if SEC tries to give the next delay to approve bitcoin. But i will not agree with you if the price of bitcoin decrease below $1000. and i think it will never happen in the future.

I agree, the ETF doesn't matter because most people are already purchasing the coin without it. When ETF gets called into play then I think that Bitcoin will suffer a rather large dump not a pump like people would think. Many rich people will want to get into the coin because they'll see that Bitcoin is legit and that is when the market will get manipulated beyond what you guys think.

The Winklevoss twins could get Bitcoins ETF approval completed if they wanted to, each of them have the connections and are just waiting or they aren't that serious about it.

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