Remember how just a few weeks ago people were telling that we have passed the bottom and on the road to 20k/30k/40k by the end of this year?
But some users on this forum understood that the market at the moment was insanely tied to ETF news, big price movements always followed them. Also those users are skeptical about the possibility of the SEC actually approving an ETF. So, overall this dip shouldn't be surprising to experienced bitcoiners. Noobs should take a lesson here to stop losing money in the future due to FOMO/FUD and instead plan for some long term strategy or maybe sharpen their trading skills.
Topic: ETF postponed creates another dip - page 2. (Read 370 times)
Yes, I totally agree that the postponement creates another panic causing the price to go down again. Those speculators who get into the picture thought that it might be approved but since they consider this delay as a negative news, they sold and newbie traders panics again. Its really a disappointed and we are back to square one again waiting for another positive news that can help us get the price again above $7K-8K.
I'm disappointed the market is this dim. However we know perfectly well the people driving these movements are not dim. They'll make hay while the sun shines and others are more than willing to run straight into their hands.
No one has said anything to me that has convinced me that an ETF in any form will pass at any time in the nearish future. The main reason seems to be 'well, it would be, like, todally AWESOME.' Quite possibly. That's no reason for them to say yes.
Let it not be forgotten that the price did rather more than fine after the first proper rejection. It will again some day.
I don't think this bubble is fully popped by any means. ETF shite can be pinned on as an excuse but really it's the same old cycles playing out once again.
No one has said anything to me that has convinced me that an ETF in any form will pass at any time in the nearish future. The main reason seems to be 'well, it would be, like, todally AWESOME.' Quite possibly. That's no reason for them to say yes.
Let it not be forgotten that the price did rather more than fine after the first proper rejection. It will again some day.
I don't think this bubble is fully popped by any means. ETF shite can be pinned on as an excuse but really it's the same old cycles playing out once again.
well, I think this is the main cause of the decline in bitcoin prices that have occurred for now. well, I think ETF really affects the price of bitcoin for now. I really hope that the effort on the founder of the crypto market was truly accepted by the ETF at the next call.
some people said Bitcoin price will go to 1000 if etf refused , that will be a big crach of the market and investors confident
The ETF isn't that important. At worst we might be testing newer lows between $5000 and $6000 but nothing more than that. If people say they think the price will fall to $1000 they are delusional.While others are panicking I have bought myself some smaller bits around $6400 some moments ago. It boggles my mind how people still don't understand that corrections are a blessing instead of a negative event.
The real market test will follow directly after an actual rejection. If I'm not mistaken (correct me if I'm wrong) the SEC has still one more opportunity to postpone the ETF before actually approving or rejecting it.
In all cases we will for sure know the outcome this year.
some people said Bitcoin price will go to 1000 if etf refused , that will be a big crach of the market and investors confident
This delay makes the price of bitcoin fall even further today, most likely there will be a pump if it has received approval. but if it is not approved, maybe the bitcoin price will drop deeper.
https://www.cnbc.com/amp/2018/08/08/bitcoin-price-falls-after-sec-postpones-key-etf-decision.html
This news from 17 minutes ago should be the reason of the current dip. Obviously insider information made the dip happen before the news hit, so as pretty easily predicted by anyone that wasn't delusional enough to think the ETF would pass, we are now going to shed all the noobs and speculators that heard somewhere how the ETF was coming and we would be going to the moon next morning.
Probably new speculative pump before the next decision which of course be a rejection. Until all the ETF noobs are shaken out of the market we can continue going up without them.
This news from 17 minutes ago should be the reason of the current dip. Obviously insider information made the dip happen before the news hit, so as pretty easily predicted by anyone that wasn't delusional enough to think the ETF would pass, we are now going to shed all the noobs and speculators that heard somewhere how the ETF was coming and we would be going to the moon next morning.
Probably new speculative pump before the next decision which of course be a rejection. Until all the ETF noobs are shaken out of the market we can continue going up without them.
ETF speculators will always come back, don't worry "Follow The Money" Also the dip started the last week of July, it's a too long period of time up to today in my opinion. It could also be the fact that the wave of ETF speculators has come to its end.
This sensational fuss over the ETF is borderline lunacy. It's just another reason to jerk the price around and stop out everyone who hid under the 7000 level or wherever. I'm getting sick and tired of these 30,000 by Dec / 50,000 by Oct / 100,000,000 by 2020 forecasts. How in the hell can anyone have a true idea of what the coin's value is going to be if there are no fundamental values to base a judgement on? Forecasters have a hard enough time doing it even when the values do exist.
This dip is just another good reason to hang on and chill out. It's not the doom, and the ETF isn't the future.
This dip is just another good reason to hang on and chill out. It's not the doom, and the ETF isn't the future.
I would prefer tether printing to the ETF.
If ten billion tethers are printed (without a fiat equivalent), the bears are burned.
If ten billion tethers are printed (without a fiat equivalent), the bears are burned.
https://www.cnbc.com/amp/2018/08/08/bitcoin-price-falls-after-sec-postpones-key-etf-decision.html
This news from 17 minutes ago should be the reason of the current dip. Obviously insider information made the dip happen before the news hit, so as pretty easily predicted by anyone that wasn't delusional enough to think the ETF would pass, we are now going to shed all the noobs and speculators that heard somewhere how the ETF was coming and we would be going to the moon next morning.
Probably new speculative pump before the next decision which of course be a rejection. Until all the ETF noobs are shaken out of the market we can continue going up without them.
This news from 17 minutes ago should be the reason of the current dip. Obviously insider information made the dip happen before the news hit, so as pretty easily predicted by anyone that wasn't delusional enough to think the ETF would pass, we are now going to shed all the noobs and speculators that heard somewhere how the ETF was coming and we would be going to the moon next morning.
Probably new speculative pump before the next decision which of course be a rejection. Until all the ETF noobs are shaken out of the market we can continue going up without them.
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