Big SEC Decision on Bitcoin ETFs: What's Your Price Prediction? - page 2.

Zee27

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Quote from: avikz on August 11, 2023, 09:41:33 AM

Lol! Not sure why people are so bullish about an ETF but it doesn't bring any real value on the table. It's just a method of investment that mimics the price of an asset without buying or selling that asset. So I don't see any positive impact or liquidity inflow in the crypto market due to ETF approval.

The only positive thing here is that some more people might get intrigued about Bitcoin and start learning about it.

My sentiments about this is not completely bullish to be frank. I'm not sure either what value ETF adds or I might just be the odd one who'd rather have her BTC in Bitget's flexible savings accruing some APR pending wether or not this will propell some boost in the price of Bitcoin. Just my thoughts for now tho.

Fivestar4everMVP

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Quote from: avikz on August 11, 2023, 09:41:33 AM

Lol! Not sure why people are so bullish about an ETF but it doesn't bring any real value on the table. It's just a method of investment that mimics the price of an asset without buying or selling that asset. So I don't see any positive impact or liquidity inflow in the crypto market due to ETF approval.

The only positive thing here is that some more people might get intrigued about Bitcoin and start learning about it.

Your last already answered your own doubts,, investors are not particularly excited about the whole Bitcoin ETF approval because they think it has the capacity to add any real value to Bitcoin, people are mostly excited and cant wait to see some of the applications approved because since SEC is an arm of the government, the Bitcoin ETF approval will finally prove to doubters that Bitcoin is indeed a legitimate currency like every other currency in the financial market.
ETF approval on its own has not the ability to add a single digit to the price of bitcoin, but it does have the ability to be a catalyst that will drive the next/coming bull run which a lot of people have been anticipating.
Oh God bless the SEC if the approval comes at a time when bitcoin halving is just a few days to go, or immediately after the halving, I think the price of Bitcoin will catapult to over $100,000 and above very easily.

franky1

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IF (big if) a ETF is approved. then many many other institutions will copy and paste the template of the accepted ETF to fast track their own acceptance. this means they have confidence to then grab reserves of coins. so a buying frenzy can occur from other companies wanting to get into ETF offerings

however i see the SEC not wanting hundreds of ETF offerings and instead want ONE main known SEC friendly institution to be the "first mover" and main ETF offerer.
whereby that potential ETF offerer will have a template of a high bar of standards which other businesses cant copy. such as them offering X billion in fiat as a escrowed insurance pot. or paying a high licence fee and willing to be SEC audited at a high cost. meaning it sets barriers of entries for others

i feel thats why the SEC has not approved others so far. because the barriers of entry and the walls of the castle are not high enough and not from a well established institution

Aanuoluwatofunmi

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Quote from: Best-mary on August 11, 2023, 09:18:33 AM

How will this decision affect Bitcoin's price? Will it soar or slump?

Since this deals with news and knowing that the bitcoin market have a little influence it receives from breaking news to adjust the market to pump in most cases even though it may not be that very much, just like we had in recent news updates about the institutions applying for the spot bitcoin ETF, all these aren't the major trigger to pump or dump bitcoin market price, the demand and supply goes along way.

avikz

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Quote from: crwth on August 11, 2023, 09:47:02 AM

Quote from: avikz on August 11, 2023, 09:41:33 AM

Lol! Not sure why people are so bullish about an ETF but it doesn't bring any real value on the table. It's just a method of investment that mimics the price of an asset without buying or selling that asset. So I don't see any positive impact or liquidity inflow in the crypto market due to ETF approval.

It's probably about SEC allowing it is the big deal. A lot of people of course follow SEC and see that their decision is something to follow. Having that type of exposure to those who don't follow cryptocurrencies in the first place would maybe try and HODL or learn about crypto. I think it is a big deal.

It's not a big deal at all. ETF is a method of making money out of thin air unless that is backer by actual asset. Anyone can sell ETF with SEC's approval, but unless that ETF is actually buying bitcoins as a reserve, it doesn't and shouldn't matter to the crypto community. It might take future investors away from actual Bitcoin.

Eternad

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Quote from: Best-mary on August 11, 2023, 09:18:33 AM

The crypto world is buzzing as the SEC prepares to reveal a crucial Bitcoin ETF verdict. The ARK 21Shares Bitcoin ETF news might arrive earlier than expected, thanks to a Sunday deadline.

SEC has an option to delay an approval since they keep doing this on older ETF applications before this Blackrock ETF hype. SEC has a lot of time to decide since they can delay the process until 2024.

If you are new to crypto. ETF approval result usually release near the last deadline.

I'm not updated on ETF deadline anymore but I guess this article will backup my hypothesis above https://www.cnbc.com/2023/08/11/sec-delays-decision-on-bitcoin-etf-from-cathie-woods-ark-invest.html

Hispo

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I am personally not expecting much of a price change with the introduction of more ETFs of Bitcoin.
Perhaps it could bring more awareness of Bitcoin to people who have been used to traditional investment tools for a while, but in reality the best case scenario would be new people joining and actually buying and keeping their Bitcoin in their personal wallets.

At least we are seeing how Bitcoin and crypto in general slowly continues to lose the stigma it had from the beginning, this is not longer an asset used for tax evasion and dark web dealings, but a legitimate one which people is interested in. Eventually, skeptic users will move from ETFs, to exchanges and hopefully to self-custody.

crwth

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Quote from: avikz on August 11, 2023, 09:41:33 AM

Lol! Not sure why people are so bullish about an ETF but it doesn't bring any real value on the table. It's just a method of investment that mimics the price of an asset without buying or selling that asset. So I don't see any positive impact or liquidity inflow in the crypto market due to ETF approval.

It's probably about SEC allowing it is the big deal. A lot of people of course follow SEC and see that their decision is something to follow. Having that type of exposure to those who don't follow cryptocurrencies in the first place would maybe try and HODL or learn about crypto. I think it is a big deal.

avikz

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Lol! Not sure why people are so bullish about an ETF but it doesn't bring any real value on the table. It's just a method of investment that mimics the price of an asset without buying or selling that asset. So I don't see any positive impact or liquidity inflow in the crypto market due to ETF approval.

The only positive thing here is that some more people might get intrigued about Bitcoin and start learning about it.

Best-mary

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BTC Lover|Crypto Educator| We Grow by Learning!

The crypto world is buzzing as the SEC prepares to reveal a crucial Bitcoin ETF verdict. The ARK 21Shares Bitcoin ETF news might arrive earlier than expected, thanks to a Sunday deadline.

But here's the real question: How will this decision affect Bitcoin's price? Will it soar or slump?

Topic: Big SEC Decision on Bitcoin ETFs: What's Your Price Prediction? - page 2. (Read 257 times)