BTC ETF SEC APPROVED on MAY 15th - page 5.

travwill

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Quote from: panju1 on April 27, 2017, 09:29:08 PM

Quote from: BitcoinPanther on April 27, 2017, 07:14:10 PM

All I can see is, this review somehow pushed the price of Bitcoin to what it is now. This (approval) might push the price higher but I would say let us not put our hopes in it. There had not much of change in Bitcoin, it was the same when it was rejected so probably it will still be rejected. Unless this current rise is a pump due to that issue, then bitcoin price will definitely crash when it is rejected once again. And if this price increase is because of adoption due to several countries accepting, then, it the price will not falter and will continue to increase even if SEC favored the previous decision.

The price is definitely higher, but we have to stop trying to look for reasons for the same. Bitcoin sometimes has a mind of its own.
As we saw the last time, the price just shrugged off the ETF rejection.

It wasn't a total shrug. Bitcoin hit a high of about $1350 briefly that day March 12th, then a low of about $975 ($375 drop), but recovered to around $1190 - but still off $150 from that crazy high. But that was about it was the day before anyway...

cpfreeplz

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The reasons they denied this from the winklevoss twins the first time is still valid today so why would it pass this time? Is this what the price increase is coming from? I'd expect a dump after it's denied again. If it's approved I would really be shocked.

leowonderful

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Bitcoin FTW!

Quote from: panju1 on April 27, 2017, 09:29:08 PM

Quote from: BitcoinPanther on April 27, 2017, 07:14:10 PM

All I can see is, this review somehow pushed the price of Bitcoin to what it is now. This (approval) might push the price higher but I would say let us not put our hopes in it. There had not much of change in Bitcoin, it was the same when it was rejected so probably it will still be rejected. Unless this current rise is a pump due to that issue, then bitcoin price will definitely crash when it is rejected once again. And if this price increase is because of adoption due to several countries accepting, then, it the price will not falter and will continue to increase even if SEC favored the previous decision.

The price is definitely higher, but we have to stop trying to look for reasons for the same. Bitcoin sometimes has a mind of its own.
As we saw the last time, the price just shrugged off the ETF rejection.

Well, it also did plunge quickly after due to reasons like Antpool signalling BU. It's a little unclear why the drop happened, but although most people agree it is BU signalling the ETF rejection could also have had a delayed effect on the price. Shrugged off is a little light but I guess it's all your own opinion.

panju1

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Quote from: BitcoinPanther on April 27, 2017, 07:14:10 PM

All I can see is, this review somehow pushed the price of Bitcoin to what it is now. This (approval) might push the price higher but I would say let us not put our hopes in it. There had not much of change in Bitcoin, it was the same when it was rejected so probably it will still be rejected. Unless this current rise is a pump due to that issue, then bitcoin price will definitely crash when it is rejected once again. And if this price increase is because of adoption due to several countries accepting, then, it the price will not falter and will continue to increase even if SEC favored the previous decision.

The price is definitely higher, but we have to stop trying to look for reasons for the same. Bitcoin sometimes has a mind of its own.
As we saw the last time, the price just shrugged off the ETF rejection.

leowonderful

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Bitcoin FTW!

What a clickbait title... The SEC has not approved and is not likely to approve the BTC ETF anytime soon, and as most people have this in mind a second rejection probably won't even affect price very much at all. An approval will certainly be nice but the chances are slim the way I see it.

ImHash

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Why do you say "approved"? May has yet to come and nothing is certain but if any announcement of approval or rejection will be out in May 15TH.
Given the recent news about Nevada and adoption of bitcoin as a real world currency in digital form in Japan and given the increase in price worldwide I assume this time big whales are with much more hope than the last times.
This is really pathetic though, we're here to establish a decentralized banking system and yet are depending on the blessing of centralized governments.

equator

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Quote from: MingLee on April 27, 2017, 07:23:06 PM

Quote from: eight888 on April 26, 2017, 09:34:35 PM

Bitcoin is getting reconsidered once again do you think its going to get approved or denied? Approval does it mean BTC rockets up ? Denial does it mean it takes a dump like in March? May 15th is the last day of approval.

I never got a chance to pay much attention to the first round of the ETF approval, but if I remember correctly they thought about it and then firmly rejected it. I don't think they're interested in letting it through, especially since it means that the SEC is permitting companies to make money outside of the "traditional" markets and, somewhat by extension, concede that Bitcoin is something people can make money from.
There might also be a lot, and by a lot I mean too much, money for an ETF to make in Bitcoin, and the SEC likely knows this.
If I get the opportunity then I might invest, but that hinges on this actually being a thing.

Their are lot of things to be done before getting approval of SEC to add bitcoin in ETF, this is just creating a rumour like last time and the market is reacting according to it, i think very soon we might see the price crashing.

MingLee

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Quote from: eight888 on April 26, 2017, 09:34:35 PM

Bitcoin is getting reconsidered once again do you think its going to get approved or denied? Approval does it mean BTC rockets up ? Denial does it mean it takes a dump like in March? May 15th is the last day of approval.

I never got a chance to pay much attention to the first round of the ETF approval, but if I remember correctly they thought about it and then firmly rejected it. I don't think they're interested in letting it through, especially since it means that the SEC is permitting companies to make money outside of the "traditional" markets and, somewhat by extension, concede that Bitcoin is something people can make money from.
There might also be a lot, and by a lot I mean too much, money for an ETF to make in Bitcoin, and the SEC likely knows this.
If I get the opportunity then I might invest, but that hinges on this actually being a thing.

Naokia980

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★PlayAmo.com★

Investors now looking for low price.Just wait for bounce and buy from dip later sell on 1500$. Wink

BitcoinPanther

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All I can see is, this review somehow pushed the price of Bitcoin to what it is now. This (approval) might push the price higher but I would say let us not put our hopes in it. There had not much of change in Bitcoin, it was the same when it was rejected so probably it will still be rejected. Unless this current rise is a pump due to that issue, then bitcoin price will definitely crash when it is rejected once again. And if this price increase is because of adoption due to several countries accepting, then, it the price will not falter and will continue to increase even if SEC favored the previous decision.

batang_bitcoin

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Quote from: eight888 on April 27, 2017, 01:52:49 PM

Quote from: batang_bitcoin on April 27, 2017, 05:22:35 AM

I don't think they will change their mind but let's see if they will reconsider it seeing that there's a new country that started to recognize bitcoin, Japan. Whatever the result of it there's no effect ( I guess ) with the price of bitcoin right now. They are just making some issues on bitcoin for them to have reasons to make the price low again.

Are you kidding me? Japan has a huge reaction to Bitcoin value rises over $1 billion, Russia move to legitimize cryptocurrency.

You didn't get my point, we are talking about the ETF and whatever will be the result it doesn't matter because of those countries that you had mentioned they are the ones right now that are giving the price of bitcoin pump. And this ETF reconsideration is just another issue for those people that wants to make a "reason" for a dump soon.

york780

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Quote from: rickadone on April 27, 2017, 04:48:51 PM

Quote from: arnbrd on April 27, 2017, 03:13:25 PM

It has of course no chance to get accepted, but I can tell you that the day it is accepted, prepare for new highs ! But this is obviously not for this time. I think that at least in the next year none will get accepted.

We cannot be sure that this time too it will get rejected for same reasons. Unlike all previous attempt, this time same applicant is trying to get approved with improved explanation on how bitcoin is working and why some common regulations will not be possible. I guess it may convince SEC this time.

If SEC approves ETF application this time, we can expcept bitcoin prices to take off toward $10k price levels straightly like how we had in 2013, from ~$15 to ~$1100 levels.

True. GBTC wouldnt even be avaliable at that time, they will trade MBTC or satoshi's lol

rickadone

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Quote from: arnbrd on April 27, 2017, 03:13:25 PM

It has of course no chance to get accepted, but I can tell you that the day it is accepted, prepare for new highs ! But this is obviously not for this time. I think that at least in the next year none will get accepted.

We cannot be sure that this time too it will get rejected for same reasons. Unlike all previous attempt, this time same applicant is trying to get approved with improved explanation on how bitcoin is working and why some common regulations will not be possible. I guess it may convince SEC this time.

If SEC approves ETF application this time, we can expcept bitcoin prices to take off toward $10k price levels straightly like how we had in 2013, from ~$15 to ~$1100 levels.

audaciousbeing

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Quote from: eight888 on April 26, 2017, 09:34:35 PM

Bitcoin is getting reconsidered once again do you think its going to get approved or denied? Approval does it mean BTC rockets up ? Denial does it mean it takes a dump like in March? May 15th is the last day of approval.

What will happen will happen and bitcoin will stand. In the last rejection that was witnessed the same way speculations were high and even some writers took their time to analyse the outcome whether its going to be positive or negative but it eventually happens and bitcoin is still standing. My advice is that we should stop giving events like this the unnecessary attention for it to influence our decisions as the outcome of it might be devastating if it does not go our way.

arnbrd

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It has of course no chance to get accepted, but I can tell you that the day it is accepted, prepare for new highs ! But this is obviously not for this time. I think that at least in the next year none will get accepted.

leopard2

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Quote from: adaseb on April 26, 2017, 09:54:22 PM

Well what do you think? It was rejected the last 20 times. Do you think it will get accepted the 21st time?

Now SEC crowd had enough time to fill up on cheap coins after they tanked to 900 so maybe yes Grin

Junko

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Quote from: mindrust on April 27, 2017, 09:44:03 AM

Nothing has changed since the last rejection, so history will repeat itself again. Pump to 1300$+ before the decision, Dump to 1000$(or below) after it. Looks like another sure win to me.

But this time i won't short my owned bitcoins, instead i will wait them to say "no" and gonna buy cheap coins from 1000$. (Maybe i'm afraid to admit that there is a small chance for it to get passed this time Cheesy

)

^ This. Nothing has changed, nothing has been done to address the reasons why it was rejected in the first place. Anyone who thinks that somehow the result of this appeal will be any different from the last time is kidding themselves.

For many, it will be a game of selling just before the inevitable drop and then guessing the bottom to buy back in for max profit.

And for the rest, it will just be a big, juicy nothing burger at the end of the day.

eaLiTy

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Have Fun )@@( Stay Safe

Quote from: eight888 on April 26, 2017, 09:34:35 PM

Bitcoin is getting reconsidered once again do you think its going to get approved or denied? Approval does it mean BTC rockets up ? Denial does it mean it takes a dump like in March? May 15th is the last day of approval.

The chances of an approval is really slim as they just rejected it a couple of months back and i am not sure whether they will have any new findings to approve it but you can speculate that the chances are fifty fifty and if they approve the ETF then it is sure that the price of bitcoin will shoot as we will be seeing some big investments in it and if they deny we would see a small correction after the rally.

eight888

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Quote from: batang_bitcoin on April 27, 2017, 05:22:35 AM

I don't think they will change their mind but let's see if they will reconsider it seeing that there's a new country that started to recognize bitcoin, Japan. Whatever the result of it there's no effect ( I guess ) with the price of bitcoin right now. They are just making some issues on bitcoin for them to have reasons to make the price low again.

Are you kidding me? Japan has a huge reaction to Bitcoin value rises over $1 billion, Russia move to legitimize cryptocurrency.

MR1

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Quote from: alyssa85 on April 27, 2017, 08:27:46 AM

It is going to be denied of course.

Nothing has changed - they're worried about unregulated exchanges providing unstable prices (because the ETF would be based on those prices). And Bitfinex proves their point, see the premium on the bitcoin price there.

Until the majority of bitcoin trading is done on regulated exchanges like GDAX and Gemini, the ETF won't get approved.

True. Bitfinex is a good example of how an unregulated exchange can easily manipulate BTC`s price.

Topic: BTC ETF SEC APPROVED on MAY 15th - page 5. (Read 8815 times)