Topic: Do you actually think a Bitcoin ETF will be accepted this month? - page 2. (Read 794 times)

We have to wait 2 more days to know the official results but with the news being spread on social networks, I am also very optimistic that the SEC will approve the spot ETFs. But I don't think ETF approval will trigger an immediate bull market, even for bitcoin. I think bitcoin will still increase after the news of ETF approval but the price will not increase too much and there will be a price drop after those few days. Many people are expecting and believe that if the ETF is approved, we will have strong growth of bitcoin soon after, I really doubt this.

This is probably what caused Bitcoin to skyrocket today. Some of the news that I read is that it is very likely that ETF will be approved. I'm not sure yet but I'd be happy if the ETF was approved. This is because a bitcoin ETF will pave the way for other coins into spot ETFs. There are several figures that show that the fees for transactions in spot ETFs have been determined. I got the image below from one of the telegram groups.

many ETF updated their S1 on the 8thjan to include their management/trade fee's...
if the SEC was wanting to delay things, they would not have responded SAME DAY with update recommendations for applicants to update again before the 10th.

it shows the SEC really is trying to get ETF applicants ducks in a row before the 10th

if the SEC wanted to delay, they would have not responded and let the errors/lack of detail come to fruition on the 10th to then decline or set new deadlines

The poll shows interesting results. It’s 50/50 on whether the etf will be approved. Interesting…

Personally I think it will be approved. It would be pretty aggressive for the SEC to reject it especially with names like BlackRock and Fidelity filing for it. The world is run by these companies, they buy politicians ffs. Anything Larry Fink gets his hands on will be approved.

Anyhow say the etf does get approved, how will it effect Bitcoin price. I mean I know it should cause more demand and a gradual price increase but in terms of volatility will it make volatility worse or not so much?

The Bitcoin ETF is a completely dramatic phenomenon. Bitcoin is passing ETF approval today not tomorrow and so day after day. People don't trust Bitcoin ETF anymore. If this continues, how long will people trust fake Bitcoin ETF? But the Bitcoin market will run and run at its own pace. Currently seeing fake Bitcoin ETF taking over the market without authorization. From here we can say that bitcoin market growth will not stop whether bitcoin is approved or not.

How many years that our community here waiting for this approval, I think its time for all of us to expect this happening because there have been so much wait and now we are getting closer to reality of acceptance .

Yeah we are just days or weeks before ETH accepted . and disappointment is not in the table anymore because we are use to this , either approved or not life must go on.

I also believe that the SEC cannot continue to delay approval of ETFs and that approval will come through. But if we encounter a bad scenario where the ETF is not approved, it is not too worrying for the future of bitcoin. I invest and hold bitcoin because I believe it is the future even as governments continue to seek to ban it and not recognize it. I'm excited and looking forward to getting ETFs approved, but that's not the reason I hold bitcoin. Without an ETF bitcoin would still be growing and getting bigger, IMO.

Gensler has to secure his job position and he has nothing with current active laws and regulations to refuse Bitcoin Spot ETF applications with a fact that he and SEC. approved Bitcoin Futures ETF applications.

If they say they reject Bitcoin Spot ETF applications because Bitcoin price is volatile and they do it to protect investors, US. citizens, it is like a slap to their faces. Because a truth we all know, Futures is more risky than Spot.

My belief is they will have to approve those applications this time with some great progress like it is a first time they stepped down and met companies to finalize things. Already comes to a last step for approval too so it will be very big shock if Gensler destroys his career and future to reject all applications. However, who knows what he thinks and who back him?

I hold my bitcoin not because of this belief but because I strongly believe in future of Bitcoin and Bitcoin Spot ETFs will be approved, if not in 2024, will be next years.

But what about now that Bitcoin crossed its highest price after 2021 bull market? reaching above 47 thousand and looking at it? we are now near to close the 50k in which the next target of bitcoin as the ETF seems to be on place sooner.
no one will blame him if he stops commenting and tweeting 

90% of his tweets as a reflection of the Bitcoin ETF official opening letter were approved. after the tweet was posted Bitcoin showed a significant increase reaching $37K. In my opinion with what Gary Gensler conveyed to the public before making any decisions, it is hoped that the public will remain careful, it is natural that this is given because indirectly Gary Gensler does not want the public to blame him in the future. however Fomo and Hype cannot be stopped because the news of the Bitcoin ETF being approved is the long-awaited momentum.

From what I understand from his tweet, he is trying to warn people to be careful and not be too Fomo. He gives advice, not telling people to stay away from bitcoin.

To me, from the SEC announcements and Gensler's tweets in recent days, that means they are implicitly saying that ETFs will definitely be approved. And we shouldn't blindly Fomo, as ETF approval also doesn't guarantee that bitcoin will continue to rise in the short term. Don't forget the saying "buy rumors, sell news".

Oh that's funny the market would pump when Gensler basically warns people not to invest lol. Yeah I guess maybe people saw it as a last ditch effort by him to try to get people to not buy the ETF just before ETFs are announced. He's a bitcoin/crypto hater through and through. Of course that tweet could also have been a warning he's gonna dump the market by rejecting ETFs in two days haha, but hopefully not, hopefully it was just a pathetic attempt by him to stop Bitcoin momentum just before the SEC approves the ETFs and Bitcoin takes a much larger step into the world of global finance.

Gary Gensler posted a cryptic message trying to warn people of their investments some less than 2 hours ago that was what spark the bitcoin candle to shoot up by $2000 dollar, man is trying to be pro active trying to warn people because he knows that he has no choice but to accept the ETF ese he go to court which everyone knows that the court is going to win and they will later be approved, he's trying to serve himself the medicine he always serve people saying bitcoin is this and that but we know he doesn't care at all.

Let's this be approved and let's see what institutional investors are going to do with this hype, they should buy all the bitcoin they want, there is something I want to really check badly and that is their influence in this market, if it is going to stop this havoc and crash we do have from some group of people or they are just another people that we should avoid like FTX and the rest we had in the last 4 years cycle.

uhhh you're very wrong about that. There has been a lot of hype about the possible ETF approval since last Spring or Summer and that has largely driven the price. Literally everyone understands this, not sure why you are trying to play the contrarian on something so obvious.

Price at $46k now is exactly 2/3rd of the $69k high. Compared to the previous market cycle high of $20k two-thirds was $13,333 which was indeed hit briefly in like May 2019 following the huge pump after that bull market ended, but wasn't reached again until I believe October 2022, about 5 months after the halving. And we are at that price now 3 months before the next halving, so this market cycle is currently about 8 months ahead of the last one. Why? The reason everyone knows: ETF. And if the ETF is indeed approved this week, the price could very well reach 75%-80% or higher of the ATH even just by the halving, which is unprecedented. Normally the price by the halving is like half the ATH because it takes time for the halved amount of bitcoin entering the market to create a supply constrain, which then leads to hype, and bull run.

While it is natural to expect each cycle for more and more people to front run the halving as the world slowly catches on to the fact that Bitcoin keeps going exponentially higher and goes through a huge bull run every four years tied to the halvings, still, the reason the price is so much ahead of last cycle is because of the expectation of an ETF, and if approved its gonna cause the market to move even faster.

Right now, ETF approval or rejection is what is controlling the price.

The market clearly thinks an ETF is imminent this week, price just pumped from $43,000s to $46k (highest since what like Spring 2022) since last night.

ETF approval likely has nothing to do with the market as it pumps without this. We are just making it hype and many people misunderstood it, they are now thinking that ETF is a tool for a huge price increase and Bullrun. In fact, so many times that it was rejected, the price of Bitcoin pumps and recovered from the dip and this has not just happened one time but so many times. This means that Bitcoin will reach another ATH without ETF, indeed a halving can do better than this.

Good chance there is, but honestly the radio silence regarding this ETF when news about it seem to flash every week or so last year is just so suspicious to me. It's as if they are already talking about it regardless, but are experiencing a couple of hiccups along the way. It didn't really help as well that weeks prior from today news broke out about the SEC not approving any bitcoin ETFs which were quickly debunked but my superstitious ass is saying that there probably is something going on behind the scenes that led to this. Matter of fact I believe that ETF or not bitcoin's bound to bounce in value soon enough, just talking about the recent price dump from 45k to 42k is telling me that either the market doesn't care about the ETF, or that the ETF is just too minor of a factor to be considered as a good reason why bitcoin's bull run is to come sooner.

I honestly wouldn't really mind whether an ETF is approved or not. It's not necessarily going to be the definitive reason why bitcoin's going to pump in value or going to be accepted globally as a staple currency anyway, so I don't really hold too much hope in bitcoin getting the ETF approved, or the ETF even causing anything massive for that matter since from what I said earlier it couldn't even put a dent on bitcoin's value when allegations of ETF being disapproved are put out on the internet.

It can still be approved but not on this month, let’s see if it will be possible in the last quarter.  But regardless if it’s approved or not, that is not a big issue for me since bitcoin will always be bitcoin even if bitcoin ETF does not exist. The potentials of bitcoin that it will become something very valuable in the future will always be its goal, so even if bitcoin ETF gets disapproved throughout the process, we can still expect that bitcoin will always be at its own best in time.

I'm pretty sure that it's going to happen. There's so many positive signs, even the recent one where the SEC issued a warning to investors that they should not fomo into bitcoin because of the ETF news. Why would they do that if there was no ETF approval incoming? They're not some kind of protectors of the little guy. They couldn't care less about you. All they care about is their job and their reputation and they don't want to be the ones to be blamed for the FOMO, therefore they warn you not to go all in into something that's going to be accessible in the coming weeks.

Sounds like you're way more versed about all of this than I am.  I just read an article on one of my bitcoin apps that discussed (and I believe I read this either yesterday or the day before) that a hurdle had been crossed for either or or more of these companies filing which of course brings us one step closer to actually getting them to market.   Thanks for providing all the details.