If you are adventurous you could open shorts each time the SEC is about to deliver a resolution on an ETF request, since you can pretty much expect with 99% chance that the rejection will happen. However short squeezes are a real thing and it has happened many times in the past...
The best and most reasonable way to go about it as I see it is just to buy the deep dips. Wait for people to panic, and once it looks nice and deep on a single candle, start considering buying back in. That's all these hearings are for, to buy the dip when it gets rejected.
This strategy may stop being efficient tho. Once something is too predictable, it has no impact anymore on the price. It's like when the PBOC sent their FUD in a press release saying "this or that exchange is getting closed". Eventually the market couldn't give a fuck about the chinese close any more exchanges.
Topic: Bitcoin price after another ETF rejection by US SEC (Read 628 times)
Thankfully bitcoin and all crypto people are smart enough to know that rejection from ETF doesn't mean a lick in this market. Even the suggestions to bitcoin and how it got rejected is very important to us. The more rejections we get the closer we get to an accepting. The amount of rejections bitcoin etf can get is limited, in the end one day they will have to accept it and the more rejections we get the closer we are getting to that acceptance.
People want bitcoin ETF, people are asking for it, in the end they will have to give up and just give people what they have wanted. Thats why the more rejections we get the higher bitcoin price is getting, because everyone knows that each rejection makes bitcoin worth more.
ETFs don't have much influence on the price of bitcoin, as you say if the price of bitcoin has dropped by $ 300 because of the rejection of the ETF proposal. but bitcoin prices recovered in an instant.lPeople want bitcoin ETF, people are asking for it, in the end they will have to give up and just give people what they have wanted. Thats why the more rejections we get the higher bitcoin price is getting, because everyone knows that each rejection makes bitcoin worth more.
Thankfully bitcoin and all crypto people are smart enough to know that rejection from ETF doesn't mean a lick in this market. Even the suggestions to bitcoin and how it got rejected is very important to us. The more rejections we get the closer we get to an accepting. The amount of rejections bitcoin etf can get is limited, in the end one day they will have to accept it and the more rejections we get the closer we are getting to that acceptance.
People want bitcoin ETF, people are asking for it, in the end they will have to give up and just give people what they have wanted. Thats why the more rejections we get the higher bitcoin price is getting, because everyone knows that each rejection makes bitcoin worth more.
People want bitcoin ETF, people are asking for it, in the end they will have to give up and just give people what they have wanted. Thats why the more rejections we get the higher bitcoin price is getting, because everyone knows that each rejection makes bitcoin worth more.
As anticipated, bitcoin took some minor dive, losing about 300$ with the recent rejection of bitcoin ETF proposals presented by ProShares, DIREXION and Graniteshares but things seem to be recovering nicely after just a few hours, maybe we don't need the ETF afterall, just a killer app to drive adoption mainstream
Traders simply do not care much about ETFs getting rejected anymore, or at least not as much as they used to. And this reflects within the price, which barely moved when the news first came out.
The fact of the matter is that bitcoin ETFs will benefit pretty much no average adopters even if it was approved, and I think that's the fact that's finally starting to catch up to some people. It's only going to be benefiting those in big financial institutions, no one else.
Also, a part of this is relative stability when it seems like everything is going bearish is probably contributed by the fact that there was no hype surrounding the ETF anymore. Markets don't go into a frenzy awaiting for the decision, so when the decision comes, the impact on the market is much lesser than previously, which is actually a great thing.
As anticipated, bitcoin took some minor dive, losing about 300$ with the recent rejection of bitcoin ETF proposals presented by ProShares, DIREXION and Graniteshares but things seem to be recovering nicely after just a few hours, maybe we don't need the ETF afterall, just a killer app to drive adoption mainstream
I believe that we must stop relying on this ETF because the market price wasn’t affected even if this fails meaning we are standing at our own feet without this approval.
Why not just wait if what will be the outcome about this and lets give no affection instead make our best for perfection
We need to move forward without any ETF which in fact not going to ever approve. I hope that bitcoin has a very good and bright future, people need to get their confident back and put their money in bitcoin which can in fact give a real support to bitcoin.
Yeah, for now we should not expect too high with the approval of ETF because it maybe their tactic to control the price or accumulate more coins so that in due time when they release the ggood news, they would be profitable since they have accumulated enough of it. We should just take advantage of movement of bitcoin as it is now because even if there are small fluctuations, we can still see an opportunity from it and if there is a chance, we should take profit because it price movements are unpredictable at time so if we are not always ready then we will have a tendency to lose and all the profit we have accumulated so far will be lost.
By now crypto users have accepted the fact that the SEC is never going to approve an ETF which is primarily backed up by crypto-currency. Perhaps that was the reason why the reaction was milder this time around.
We need to move forward without any ETF which in fact not going to ever approve. I hope that bitcoin has a very good and bright future, people need to get their confident back and put their money in bitcoin which can in fact give a real support to bitcoin. I believe no matter how many times the ETF gets rejected, we should still try to push for one, because even in rejection, it lights a positive light towards bitcoins future.
Bitcoin doesn't need an ETF to keep growing, it's just something that people have made themselves believe which is stupid.
Bitcoin needs LN in order to lift its main utility to a whole new level, and once that has been taken care of, there is basically no limit to Bitcoin's price. Bitcoin is money in the end, and if people and merchants no longer think it's necessary to cash out to fiat, the price will go through the fucking roof organically. It will take some years to reach that point, but we can wait since we're still in the very early stage. Don't rush things. Enjoy the journey.
LN is Bitcoin's ultimate killer application, not an ETF or Bakkt.
I believe no matter how many times the ETF gets rejected, we should still try to push for one, because even in rejection, it lights a positive light towards bitcoins future.
Bitcoin doesn't need an ETF to keep growing, it's just something that people have made themselves believe which is stupid.
Bitcoin needs LN in order to lift its main utility to a whole new level, and once that has been taken care of, there is basically no limit to Bitcoin's price. Bitcoin is money in the end, and if people and merchants no longer think it's necessary to cash out to fiat, the price will go through the fucking roof organically. It will take some years to reach that point, but we can wait since we're still in the very early stage. Don't rush things. Enjoy the journey.
LN is Bitcoin's ultimate killer application, not an ETF or Bakkt.
I have seen a lot of news about the ETF, but I still don't understand that even if the ETF passes the review, it will not bring any benefits other than bringing in some investors!
The Only ETF that matters and will pass is the CBOE. They are the most senior players in the game and they are offering full insurance on any hacks or lost keys.
I believe no matter how many times the ETF gets rejected, we should still try to push for one, because even in rejection, it lights a positive light towards bitcoins future.
Bitcoin doesn't need an ETF to keep growing, it's just something that people have made themselves believe which is stupid.
Or its what institutional investors want us to believed. Them joining and becoming a custodian in case of a ETF approval will give them enormous control, meaning price manipulation.
Bitcoin needs LN in order to lift its main utility to a whole new level, and once that has been taken care of, there is basically no limit to Bitcoin's price. Bitcoin is money in the end, and if people and merchants no longer think it's necessary to cash out to fiat, the price will go through the fucking roof organically. It will take some years to reach that point, but we can wait since we're still in the very early stage. Don't rush things. Enjoy the journey.
LN is Bitcoin's ultimate killer application, not an ETF or Bakkt.
LN is Bitcoin's ultimate killer application, not an ETF or Bakkt.
Yes, Segwit is already implemented but when Lightning Network suddenly goes live, those Bitcoin haters will hide and hibernate and will just get out if they found any loophole in the system where they can attack again.
I believe no matter how many times the ETF gets rejected, we should still try to push for one, because even in rejection, it lights a positive light towards bitcoins future.
Bitcoin doesn't need an ETF to keep growing, it's just something that people have made themselves believe which is stupid.
Bitcoin needs LN in order to lift its main utility to a whole new level, and once that has been taken care of, there is basically no limit to Bitcoin's price. Bitcoin is money in the end, and if people and merchants no longer think it's necessary to cash out to fiat, the price will go through the fucking roof organically. It will take some years to reach that point, but we can wait since we're still in the very early stage. Don't rush things. Enjoy the journey.
LN is Bitcoin's ultimate killer application, not an ETF or Bakkt.
The ETF offer can get rejected as many times as it can it will always be a good thing. In the end bitcoin was known as the "money drug dealers use to not get caught" and from that we have improved ourselves (like using bitcoin for drug dealing is bad...) and now we are at a level that states "bitcoin ETF got rejected", I think that is an improvement in the eyes of the investors and since we improved from those days to these days, even the rejection is still a great leap forward for bitcoin.
I believe no matter how many times the ETF gets rejected, we should still try to push for one, because even in rejection, it lights a positive light towards bitcoins future.
I believe no matter how many times the ETF gets rejected, we should still try to push for one, because even in rejection, it lights a positive light towards bitcoins future.
Before ETF speculations came into mind of bitcoins traders the price was behaving as it by going up and down. The rejection of the ETF by US SEC shouldn't be the only cause of bitcoins price but other factors must be taken into consideration too.
By now crypto users have accepted the fact that the SEC is never going to approve an ETF which is primarily backed up by crypto-currency. Perhaps that was the reason why the reaction was milder this time around.
bitcoin prices recovered faster than expected, after rejection of the ETF proposal by SEC the price of bitcoin experienced a pump. in an instant the price of bitcoin has increased by $ 600.
If the ETF can be successfully approved, then the market may welcome more investors, but even if the ETF is not successful, I believe that the market still has a lot of room for development! (killer app)
in my opinion the effects of ETF are diminishing.
people might have gotten super excited about it once but as SEC continued rejecting them, everyone started rethinking what they get excited about and changed their opinion about ETF. now their rejections won't even matter, it is turning into any other event that happens on a daily basis.
people might have gotten super excited about it once but as SEC continued rejecting them, everyone started rethinking what they get excited about and changed their opinion about ETF. now their rejections won't even matter, it is turning into any other event that happens on a daily basis.
in my opinion ETFs don't have much influence on the price of bitcoin, as you say if the price of bitcoin has dropped by $ 300 because of the rejection of the ETF proposal. but bitcoin prices recovered in an instant.
This ETF rejection wasn't the actual reason for the price fall of BTC because there wasn't much hope of it being approved. However, September decision may be a game changer for BTC and we might see a new high if ETF is approved and good thing is that even if they reject it again then only a small downfall in price is expected.
As anticipated, bitcoin took some minor dive, losing about 300$ with the recent rejection of bitcoin ETF proposals presented by ProShares, DIREXION and Graniteshares but things seem to be recovering nicely after just a few hours, maybe we don't need the ETF afterall, just a killer app to drive adoption mainstream
That ETF should be changes in the abbreviation WTF since it has nothing to help crypto but false information and misleading,majority of the noob in this forum believe that this will give great growth ,but again nothings happen but rejection..
Market can grow without the ETF because we can help market to bloom,and not this false informations
Yes, we may not need to join the ETF, but if the ETF can pass the audit, it will bring more investors to the market and let more people know the existence of the coin market!
As anticipated, bitcoin took some minor dive, losing about 300$ with the recent rejection of bitcoin ETF proposals presented by ProShares, DIREXION and Graniteshares but things seem to be recovering nicely after just a few hours, maybe we don't need the ETF afterall, just a killer app to drive adoption mainstream
Traders are becoming used to this ETF issue and I think that is why many of us are not dumping like before. Bitcoin has sofa a major dumped some months ago and we are seeing corrections now and I believe with ETF or no ETF the bull will resume. In the coming months, they are 9 ETFs are there for approval awaiting from US SEC hopefully we can expect a positive outcome from Sec re-approval thought
If you aren't psychologically ready to take another 9 ETF rejections by the SEC then you aren't going to do well in bitcoin. The only way to keep a strong hand and don't do anything stupid is if you stop expecting that the ETF will ever pass. Assume the SEC doesn't have an incentive to pass it and move on with your life, bitcoin will do well without the ETF, hard money always wins in the end, the ETF passing would only speed up the rocket.
Agree with your statement mate, yes bitcoin will do well without ETF. It is not bad for now bitcoin will increase even ETF was rejected that we expect that after rejection ETF will have an effect to the bitcoin and it might sink the price in the market. But their prediction was wrong that ETF will have a big impact if it is approved by SEC. One thing that comes up in my mind, before bitcoin pumped up the price last year without ETF so there's no reason that it will not happen again.(IMO)
Of course it will happen again without an ETF, it's just things will be different this time around, it could take longer. At the beginning of 2017, that's when the price was starting to slowly rise. A lot of people heard about Bitcoin through friends/family that wouldn't stop talking about it (me being one of the talkers). They heard about how everyone that was holding Bitcoin was making money, so they bought some to get in on the money making machine. That is what really caused the bubble last year, that and the massive amount of media coverage.
Now that everyone knows about Bitcoin, in my opinion, the rise back to $20k will take much longer without an ETF. With an ETF approval, I think that very well would cause a short term pump which would help initiate the next bull run.
If this will be successful in the near future of bitcoin, and with respect to ETF or something that made the world of bitcoin more precious. Bull run will be happening as long there's a potential increase in demand which could trigger people at a certain situations. Nothing to worry all about, because this plans will have to provide an assurance of digital currency to be more sustainable to the public so that the adoption will become more in demand.
In the coming months, they are 9 ETFs are there for approval awaiting from US SEC hopefully we can expect a positive outcome from Sec re-approval thought
If you aren't psychologically ready to take another 9 ETF rejections by the SEC then you aren't going to do well in bitcoin. The only way to keep a strong hand and don't do anything stupid is if you stop expecting that the ETF will ever pass. Assume the SEC doesn't have an incentive to pass it and move on with your life, bitcoin will do well without the ETF, hard money always wins in the end, the ETF passing would only speed up the rocket.
Agree with your statement mate, yes bitcoin will do well without ETF. It is not bad for now bitcoin will increase even ETF was rejected that we expect that after rejection ETF will have an effect to the bitcoin and it might sink the price in the market. But their prediction was wrong that ETF will have a big impact if it is approved by SEC. One thing that comes up in my mind, before bitcoin pumped up the price last year without ETF so there's no reason that it will not happen again.(IMO)
Of course it will happen again without an ETF, it's just things will be different this time around, it could take longer. At the beginning of 2017, that's when the price was starting to slowly rise. A lot of people heard about Bitcoin through friends/family that wouldn't stop talking about it (me being one of the talkers). They heard about how everyone that was holding Bitcoin was making money, so they bought some to get in on the money making machine. That is what really caused the bubble last year, that and the massive amount of media coverage.
Now that everyone knows about Bitcoin, in my opinion, the rise back to $20k will take much longer without an ETF. With an ETF approval, I think that very well would cause a short term pump which would help initiate the next bull run.
In the coming months, they are 9 ETFs are there for approval awaiting from US SEC hopefully we can expect a positive outcome from Sec re-approval thought
If you aren't psychologically ready to take another 9 ETF rejections by the SEC then you aren't going to do well in bitcoin. The only way to keep a strong hand and don't do anything stupid is if you stop expecting that the ETF will ever pass. Assume the SEC doesn't have an incentive to pass it and move on with your life, bitcoin will do well without the ETF, hard money always wins in the end, the ETF passing would only speed up the rocket.
Agree with your statement mate, yes bitcoin will do well without ETF. It is not bad for now bitcoin will increase even ETF was rejected that we expect that after rejection ETF will have an effect to the bitcoin and it might sink the price in the market. But their prediction was wrong that ETF will have a big impact if it is approved by SEC. One thing that comes up in my mind, before bitcoin pumped up the price last year without ETF so there's no reason that it will not happen again.(IMO)
In the coming months, they are 9 ETFs are there for approval awaiting from US SEC hopefully we can expect a positive outcome from Sec re-approval thought
If you aren't psychologically ready to take another 9 ETF rejections by the SEC then you aren't going to do well in bitcoin. The only way to keep a strong hand and don't do anything stupid is if you stop expecting that the ETF will ever pass. Assume the SEC doesn't have an incentive to pass it and move on with your life, bitcoin will do well without the ETF, hard money always wins in the end, the ETF passing would only speed up the rocket.
Now, im not saying it's impossible, im just saying people that come into bitcoin expecting it to happen are missing the big picture and will end up losing money.
As far as realistic timelines, perhaps 2020 and beyond, but some point to 2019, personally like I said before, im ready to assume it never happens.
In the coming months, they are 9 ETFs are there for approval awaiting from US SEC hopefully we can expect a positive outcome from Sec re-approval thought
I really think that the markets have grown increasingly insensitive to these bitcoin ETF news.
With the tons and tons of ETFs being rejected, people are starting to realize that these rejections has basically no effect on bitcoin's long term potential, and the obvious benefits that bitcoin offers on its network and blockchain.
That's why I think prices aren't really moved by these recent rejections. There is no hype over these ETF deadlines anymore, so there isn't really panic dumping when the rejection comes either. All ETFs are is a centralized financial tool. The decision shouldn't be weighted this much by the community anyways.
With the tons and tons of ETFs being rejected, people are starting to realize that these rejections has basically no effect on bitcoin's long term potential, and the obvious benefits that bitcoin offers on its network and blockchain.
That's why I think prices aren't really moved by these recent rejections. There is no hype over these ETF deadlines anymore, so there isn't really panic dumping when the rejection comes either. All ETFs are is a centralized financial tool. The decision shouldn't be weighted this much by the community anyways.
As anticipated, bitcoin took some minor dive, losing about 300$ with the recent rejection of bitcoin ETF proposals presented by ProShares, DIREXION and Graniteshares but things seem to be recovering nicely after just a few hours, maybe we don't need the ETF afterall, just a killer app to drive adoption mainstream
The refusal begins with SEC's concern about the fraud and manipulation of the Bitcoin market and also does not meet the regulator's requirements, I think this rule is designed to prevent fraudulent or manipulative actions, this is a positive thing for the market, but unfortunately the requirements proposed by Bitcoin have not met the requirements, even though its influence on Bitcoin prices has declined but I hope the price will recover and stabilize and also the market will be protected from cheating and manipulation.
As anticipated, bitcoin took some minor dive, losing about 300$ with the recent rejection of bitcoin ETF proposals presented by ProShares, DIREXION and Graniteshares but things seem to be recovering nicely after just a few hours, maybe we don't need the ETF afterall, just a killer app to drive adoption mainstream
Hopefully that the people will not really care anymore about this ETF proposals because Crypto currency market is in middle of recovering. We have waited long enough for the bullish run and we just hope that after this ETF issue the market will continue to move on now.
Of course that really affected the market like yesterday's decision where the market tried to go up but with the delay turning into a decline, I didn't see much with market-focused regulations that made me believe that in the next few months we would recover, I hope everyone thinks this nothing and everything focused on the market to be pumped together, I think some people are sick and start to understand what to do.
if you compare it with the initial ETF rejection a month ago, there was a bigger rise and a bigger fall after.
Wasn't it a delay last month, rather than a rejection? I'll admit I didn't read many details, since the importance of an ETF has been blown way out of proportion IMO. I thought I recall that a decision was just postponed last time.there were a couple of ETFs i don't really follow them either but this one stuck with me, one of them was postponed which is the SolidX ETF which is probably what you had in mind and this is the most hyped up one.
another one that was rejected last month belonged to Winklevoss twins. it happened on on July 26 which made the price drop from $8k to what we see today.
As anticipated, bitcoin took some minor dive, losing about 300$ with the recent rejection of bitcoin ETF proposals presented by ProShares, DIREXION and Graniteshares but things seem to be recovering nicely after just a few hours, maybe we don't need the ETF afterall, just a killer app to drive adoption mainstream
Hopefully that the people will not really care anymore about this ETF proposals because Crypto currency market is in middle of recovering. We have waited long enough for the bullish run and we just hope that after this ETF issue the market will continue to move on now.
As anticipated, bitcoin took some minor dive, losing about 300$ with the recent rejection of bitcoin ETF proposals presented by ProShares, DIREXION and Graniteshares but things seem to be recovering nicely after just a few hours, maybe we don't need the ETF afterall, just a killer app to drive adoption mainstream
Recovering nicely how?
Change 24h: 3% Is it what you call nicely? It's funny how a $200-300 increase in the value and the moon can appear again like within acid.
People are used with the SEC rejection so this one wasn't a surprise, and the next coming next month will surely follow the same path. But in no way, there is a relation between a 3% and the SEC decision. When we will have a longer period of underlying market performance the thing will be different and only then people will be able to
if you compare it with the initial ETF rejection a month ago, there was a bigger rise and a bigger fall after.
Wasn't it a delay last month, rather than a rejection? I'll admit I didn't read many details, since the importance of an ETF has been blown way out of proportion IMO. I thought I recall that a decision was just postponed last time.Anyway, I'm not sure how much either of these news events had or is having on the price. You'd think after an outright rejection, bitcoin would sink even lower, but it hasn't. It's actually at around $6700 as I write this. That's not too bad, considering where it's recently been.
Change 24h: 3% Is it what you call nicely? It's funny how a $200-300 increase in the value and the moon can appear again like within acid.
3% in a day isn't bad at all, especially since bitcoin has been moving sideways in a very small range for a while now. Any movement to the upside is a good thing, IMO. Most people just gave up on the thought of the SEC approving any ETFs, and just went on to continue trading as if it's like a normal day.
I think this is very difficult, maybe because of this people are not panic:
Crypto Markets See Solid Upswing as SEC Promises to Review Recently Rejected Bitcoin ETFs
People still have hope, because of this hope prices are not falling too much
I believe that they are using bitcoin ETF just to keep the price jump then drop. It looks like there is a conspiracy between Winklevoss twins and the SEC that is why the Bitcoin ETF is always postponed.
Most people just gave up on the thought of the SEC approving any ETFs, and just went on to continue trading as if it's like a normal day.
I think this is very difficult, maybe because of this people are not panic:
Crypto Markets See Solid Upswing as SEC Promises to Review Recently Rejected Bitcoin ETFs
People still have hope, because of this hope prices are not falling too much
Seeing how the price moved, people don't seem to bother anymore about how ETFs are doing. Most people just gave up on the thought of the SEC approving any ETFs, and just went on to continue trading as if it's like a normal day. Perhaps we are just very eager to get some high gains for bitcoin again but in reality, we don't need ETFs that much, it's just another application that could potentially boost us into higher gains. The market seems to be dormant as of late and the up-down movement of the market seems normal despite the ETF talks.
As anticipated, bitcoin took some minor dive, losing about 300$ with the recent rejection of bitcoin ETF proposals presented by ProShares, DIREXION and Graniteshares but things seem to be recovering nicely after just a few hours, maybe we don't need the ETF afterall, just a killer app to drive adoption mainstream
Too much hype has been placed on the etf proposals and i think it was well deserved since an approval would in a way push us a little bit closer to mass adoption but yeah, even without it we'll get there. Let's see what will happen with the sept proposal. An approval may very well start a positive run for us. 
As anticipated, bitcoin took some minor dive, losing about 300$ with the recent rejection of bitcoin ETF proposals presented by ProShares, DIREXION and Graniteshares but things seem to be recovering nicely after just a few hours, maybe we don't need the ETF afterall, just a killer app to drive adoption mainstream
Its because investors are getting smarter and they doesn't care about this so called ETF floating around. Yeah there is a minor dip, but look how quickly the market recovered. Speculators bought at the dip pushing the price to where before the last dip. I agree that we don't need ETF"s, we've seen ETF"s rejection come and go, specially during the first Winklevoss twins ETF rejection. So I wouldn't put do much weight on ETF's nowadays, because it doesn't have a direct effect long term, IMHO.
I'm not seeing bitcoin being the direct benefit of ETF, rather altcoin would because it will give more recognition to cryptocurrency.
the only problem with that is when someone from outside comes in they usually only see the top altcoins and they are usually the worst coins, at least most of them are. and with the pump and dumps they see there while seeing some broken project (ETH, XRP) or a copy coin (BCH, LTC,...) they will be disappointed and go away. possibly back to bitcoin.
I'm not seeing bitcoin being the direct benefit of ETF, rather altcoin would because it will give more recognition to cryptocurrency. Bitcoin gained ath without ETF and so it might not really affect it with or without it. What is needed is the online companies and media to begin outright adoption.
As anticipated, bitcoin took some minor dive, losing about 300$ with the recent rejection of bitcoin ETF proposals presented by ProShares, DIREXION and Graniteshares but things seem to be recovering nicely after just a few hours, maybe we don't need the ETF afterall, just a killer app to drive adoption mainstream
I was posting the same thing last year,when the Winklevoss twins ETF proposal was rejected.
I'm glad that you came to the same conclusion.Bitcoin doesn't ETF approvals,in order to grow and become stronger.It needs mainstream adoption from real online companies that sell goods and services,not mutual funds.
The whole "SEC decision anticipation" was highly exaggerated(as usual).
this recent ETF and its rejection proved a couple of things in my opinion.
- looking at before its decision, the rise was practically non-existent because we only had one small spike which had other reasons actually and the size of it was not big enough to make us consider it the FOMO buy of ETF approval. so it proves that people don't have much faith in SEC approving ETFs anymore.
- looking at after the decision (rejection) there piratically wasn't any drop either. that small drop is nothing to be considered an actual drop because of panic sell of the rejection. which again proves people don't care about it anymore.
if you compare it with the initial ETF rejection a month ago, there was a bigger rise and a bigger fall after.
- looking at before its decision, the rise was practically non-existent because we only had one small spike which had other reasons actually and the size of it was not big enough to make us consider it the FOMO buy of ETF approval. so it proves that people don't have much faith in SEC approving ETFs anymore.
- looking at after the decision (rejection) there piratically wasn't any drop either. that small drop is nothing to be considered an actual drop because of panic sell of the rejection. which again proves people don't care about it anymore.
if you compare it with the initial ETF rejection a month ago, there was a bigger rise and a bigger fall after.
It shows the token is maturing quite a bit. Looks like the recent developments were 'priced in.' I view this as a very positive sign.
this recent ETF and its rejection proved a couple of things in my opinion.
- looking at before its decision, the rise was practically non-existent because we only had one small spike which had other reasons actually and the size of it was not big enough to make us consider it the FOMO buy of ETF approval. so it proves that people don't have much faith in SEC approving ETFs anymore.
- looking at after the decision (rejection) there piratically wasn't any drop either. that small drop is nothing to be considered an actual drop because of panic sell of the rejection. which again proves people don't care about it anymore.
if you compare it with the initial ETF rejection a month ago, there was a bigger rise and a bigger fall after.
- looking at before its decision, the rise was practically non-existent because we only had one small spike which had other reasons actually and the size of it was not big enough to make us consider it the FOMO buy of ETF approval. so it proves that people don't have much faith in SEC approving ETFs anymore.
- looking at after the decision (rejection) there piratically wasn't any drop either. that small drop is nothing to be considered an actual drop because of panic sell of the rejection. which again proves people don't care about it anymore.
if you compare it with the initial ETF rejection a month ago, there was a bigger rise and a bigger fall after.
As anticipated, bitcoin took some minor dive, losing about 300$ with the recent rejection of bitcoin ETF proposals presented by ProShares, DIREXION and Graniteshares but things seem to be recovering nicely after just a few hours, maybe we don't need the ETF afterall, just a killer app to drive adoption mainstream
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