@ICOselector2018z
The dip started before the SEC postpones their decision, so the 10% is not related to this news.. And while you mention the 45 days it can also be a lot longer, up to February next year (if I am correct). I don't think we (the crypto community) need it as other users say, because it's not going to give us something. Other than to see an increase in the cash flow to bring fresh money injected into the market
Topic: Bitcoin ETF .. do we really need it? - page 5. (Read 700 times)
I think we really need it because if Bitcoin ETF approved the demand of the cryptocurrency will increase alot and the total market cap of crypto possible to going up more than $1 trilliun in just afew month. When Bitcoin ETF approved by SEC , many new big investor will put their money in to crypto.
I think the Bitcoin ETF won't change much, just like the futures.
If the retail market really wants to buy bitcoins they can always use that GBTC or even just buy it with a futures broker as long as they have enough for the leverage.
Bitcoin has far more use cases than an ETF. These ETFs and Futures are all for "Buy the rumor, sell the news".
The Bitcoin futures is a perfect example because when the CME actually went live, it was the last time BTC saw $20K.
If the retail market really wants to buy bitcoins they can always use that GBTC or even just buy it with a futures broker as long as they have enough for the leverage.
Bitcoin has far more use cases than an ETF. These ETFs and Futures are all for "Buy the rumor, sell the news".
The Bitcoin futures is a perfect example because when the CME actually went live, it was the last time BTC saw $20K.
What Bitcoin had achieved right now was on its own and without ETF. Certainly it can go on forever along with the altcoins without ETF. The government however is making their move to make some changes because of the illegal activities in relation to BTC now that it's known and they learned its unstoppable. No ETF approval or With ETF approval crypto is just going to be doing fine. But for the security in investing into crypto, there has to be regulations which includes the ETF approval.
The SEC decided to postpone a decision on the Bitcoin ETF for 45 days. The crypto community did not take this news well, with the market dipping almost 10% as a response. In this video I ask a very important question.. do we even need the Bitcoin ETF.
https://www.asiacryptotoday.com/bitcoin-etf-do-we-really-need-it/
https://www.asiacryptotoday.com/bitcoin-etf-do-we-really-need-it/
We don't need the ETF per se, we need the signal it brings. We need it for big money to flow back in, we need it for future development and some think that we may even need it for stability (although this last part is incorrect).
However, the ETF idea was rushed, hence the disaster. We need better regulation, we need to rule out the exchanges where you can "do tricks" (maybe decentralized exchanges would be the answer? I don't know.) When the market becomes more stable, when the market doesn't react this bad to a news that many of us were expecting, then the ETF will be approved. We need to clean the garbage first, then we can hope we'll shine.
Shortly, we "need" the money the ETF brings, but we need to clean the mess first, by ourselves.
If we're talking about the effect of Bitcoin ETF on Bitcoin prices, I think we 'need' Bitcoin ETF to create a positive sentiment, just like the previous CBOE Futures. Bitcoin ETF news is so central right now to create market sentiment, even dozens of positive news like blockchain adoption and others don't push Bitcoin price. It's pretty weird, it seems like whatever happens in the US decide the future of Bitcoin prices.
A bitcoin ETF is one that mimics the price of the most popular digital currency in the world. This allows investors to buy into the ETF without going through the complicated process of trading bitcoin itself. Moreover, because holders of the ETF won't be directly invested in bitcoin itself, they will not have to worry about the complex storage and security procedures required of cryptocurrency investors.
There is another crucial benefit to focusing on a bitcoin ETF rather than on bitcoin itself. Because the ETF is an investment vehicle, investors would be able to short sell shares of the ETF if they believe that the price of bitcoin will go down in the future. This is not something that can be done in the traditional cryptocurrency market
There is another crucial benefit to focusing on a bitcoin ETF rather than on bitcoin itself. Because the ETF is an investment vehicle, investors would be able to short sell shares of the ETF if they believe that the price of bitcoin will go down in the future. This is not something that can be done in the traditional cryptocurrency market
The SEC decided to postpone a decision on the Bitcoin ETF for 45 days. The crypto community did not take this news well, with the market dipping almost 10% as a response. In this video I ask a very important question.. do we even need the Bitcoin ETF.
https://www.asiacryptotoday.com/bitcoin-etf-do-we-really-need-it/
I do not think there is an exact day when the SEC will decide on bitcoin ETF because there is some news telling that September 30 is the postponed date where the SEC is going to decide whether Bitcoin ETF will approve or not.https://www.asiacryptotoday.com/bitcoin-etf-do-we-really-need-it/
Anyway, I think we don't need bitcoin ETF because according to other enthusiasts that bitcoin ETF is made to play the price of bitcoin and I think they create it for pump and dump.
Here is a video that we do not need a bitcoin ETF https://www.youtube.com/watch?v=I6_ipj02bvM
The SEC decided to postpone a decision on the Bitcoin ETF for 45 days. The crypto community did not take this news well, with the market dipping almost 10% as a response. In this video I ask a very important question.. do we even need the Bitcoin ETF.
https://www.asiacryptotoday.com/bitcoin-etf-do-we-really-need-it/
https://www.asiacryptotoday.com/bitcoin-etf-do-we-really-need-it/
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