Topic: How does SEC ETF rejection affect the future of Bitcoin. - page 2. (Read 346 times)

Hello everyone,
I wasn’t too surprised to see the SEC reject those ETF proposal, all with the same old reason: the underlying market is too illiquid and prone to market manipulation ( that are a bad things in SEC view).
I am optimistic on ETF approval for two reasons:
1- It’s easy to implement a fixing venue that isn’t subject to manipulation, or at least it is less easy to manipulate (well, can you name a single financial assset that is IMMUNE to manipulation? I can’t). Two example: an ETF fixing from CBOE (VanEkt , decision pending on Sep. 30, possibly delayed until end of Feb 2019), fixing on the same market used for the future: if a venue isopod for the future fixing I can’t see a reason why an ETF cannot fix there.
Second chance is Bakkt (that would be ICE’s cryptocurrency maket),this is going to be huge. And ICE surely knows how to avoid market participants not to rig their markets.
2- SEC denial was not unanimous:there were a rogue voter that wanted the ETF approved and said that the SEC was not doing the right job in the best interest of the markets and of them investor.
So for sure I am bullish: every rejected ETF proposal get us one proposal closer to the right one. It will eventually be allowed and the gates of the “normies money “ will eventually get to bitcoin raising the biggest tide seen since 2009.
So, to answer your question: HODL!
MountaineerSN

lets imagine that there was actually a drop because of ETF rejections that took place yesterday. the drop doesn't wait for a whole day to start, then happen. the drop happens right away. the fact that now nearly a day has passed from the ETF rejection means it wasn't something that  could cause a drop.

in other words next time you assume something is going to cause a drop,  act on it right away and sell. of course you should first make sure your speculation is correct not wrong like this time.

Yeah, I don't know where people get this idea that news dictates the price trend (probably recency bias).

The ETF rejection last year is a case in point. A news-minded person looks at that event and says, "look, it caused a selloff! News rules everything!" But when you zoom out, that was a small (and somewhat expected) correction in a major bull run. Bad news can't stop a bull market.

It's counter intuitive, but I think anyone who wants to be a successful BTC trader should generally ignore the news. All fundamentals are reflected in the supply and demand, which is reflected in the charts.

Trying to quantify news into price is a fool's errand and it's a completely emotional exercise. That's why it's bad for trading: being a successful trader means trading without emotion. Just focus on price action......

I think ETF will only make people panic selling, although ETF rejection I remain optimistic to hold bitcoin, although in my opinion the rejection that would make the price will come down because will many of the lay people panic selling.

This is expected, if we analyze the reasons why the SEC denied the ETF of the twins, then we realize that these ETFs that were denied today do not bring anything different, so you could imagine they would be disapproved


Why the hell are you in a dilemma? This is not the end of bitcoin and you can hold for a few years that you will have big profits

OP, had you actually heard of any of these applications until they were rejected? I knew of their vague nature, but not the names.

They're meaningless.

The one application people have a boner for may drag on into next year. They can't do anything about the SEC's prime objections so I expect that to be dead too.

In the meantime Bakkt will be up and running which will do many of things an ETF is proposed to solve plus plenty more too.

The first ETF rejection in 2017 ultimately did nothing to stop a bubble. I see no reason why the overall trajectory would change if there was another rejection. It's going to do what it's going to do.

As expected, the market rose heading into the decision, and dumped when the news dropped. The dump happened right at a support zone, though, so it was minimal. I'd like to believe that these ETF rejections are starting to be priced in by the market. Who in their right mind expects ETF approval at this point? Only the naive.

You held all the way down to the $6,000s, and you're thinking of selling now? Because of ETFs? Maybe people aren't quite as bullish as I thought.

Did the SEC approve ETF when Bitcoin rose to 20,000 USD? People over hyped the ETF issue that is why you are having this dilemma. Hold your coins. Don't sell off.

If the ETF can successfully pass the review, it can bring more investors to the market, and when the SEC rejects it, many investors may have doubts about the cryptocurrency market!

SEC ETF rejection affect the movement of the world of cryptocurrency espicially the bitcoin because people expecting the high up when etf will approved and the price will low if the etf will rejected but as i observe the price maintained since the etf was rejected.It means bitcoin not only depends to the etf to move and go.

Still looking Bitcoin stable on 6k to 6.5k zone even most of ETF rejected. From my side still you can hold. We can see on last year record of Bitcoin price that time wasn't ETF proposal. But Bitcoin price was touched almost 20K. I think this year will repeat the same trend. Just question of time, how long it will take. If ETF approve thoes are remain it will better for investors. Although rejected all ETF proposal I am not expecting Bitcoin price will go below 5K. Btw I will suggest if you can hold for long time than don't sale now. Just wait for end of year.

The choice between selling and continuing to buy is in your hands, if you listen to my advice it is better that you hold your bitcoin more than you sell it because bitcoin will definitely go up again after some people try to keep the market in a mess right now, and I myself do a position the same is to continue to invest in bitcoin even though prices continue to fall.

Why should one sell now because the ETF got rejected?

IMO this whole ETF thing was way too overhyped. Bitcoin has not been created to be used as a speculative investment, which unfortunately is the case currently.
Additionally the ETF got rejected quite often yet. So that wasn't anyway surprising at all.


The future of bitcoin is completely unaffected by this event. The dollar-price may vary a bit now, but that shouldn't have any bit influence.
I'd say the future consists of further developing the network, improving the protocol (e.g. schnorr) and building the LN to a massively scalable payment network.

Whether an ETF gets approved or rejected, does only have influence in the short term. In the long term the technology is the important factor.

This was no surprise, it doesn't adversely or positively affect the future of Bitcoin or the cryptocurrency industry as a whole, that's why there was very little effect on the BTC valuation as literally everybody expected it. We're probably hoping for ETFs to be approved far too soon, it's quite possible it might not happen for at least another year or two, until the government starts to appreciate the benefits and security that BTC brings to investors.

I also waited for this event. But I was hoping for a completely different result from. It's a pity that the miracle did not happen. But I think that the price of bitcoin will not fall significantly.

I did not understand your question. Are you storing Bitcoin and ask if you want to sell it? If this bitcoin, then of course my answer is: "Yes, it must be stored! Because bitcoin is the strongest cryptocurrency in my opinion"

So it's finally here. SEC rejects most of the ETF applications. So what do you advise I do. Keep holding or sell off? I'm in a dilemma at the moment