in 8 years bitcoin didn't rise from $0 to $1000+ because of ETF...

pooya87

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Quote from: cpfreeplz on March 11, 2017, 04:24:24 PM

Everything in the OP is true but it doesn't change the fact that we have a lot of day traders taking advantage of people's emotions. If they hear the news they buy up in the hopes that everyone else buys up too, then dump when the bad news comes out.

selling/dumping so that day-traders can take the profit in short term is perfectly normal but panic selling is not. and what we see in times like this is panic sellers and many scared newcomers and the later is the worst thing. because they turn away when they see this:

picture was copied from here https://bitcointalksearch.org/topic/from-1200-to-1350-took-only-4-minutes-and-still-rising-1820643

cpfreeplz

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Everything in the OP is true but it doesn't change the fact that we have a lot of day traders taking advantage of people's emotions. If they hear the news they buy up in the hopes that everyone else buys up too, then dump when the bad news comes out.

richardsNY

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Quote from: NamedUser on March 11, 2017, 01:50:28 PM

It looks to me like there were only some people speculating on the price of bitcoins based on the ETF passing. Bitcoins are still holding steady and we're still going to see huge rises in the future, ETF or not.

No matter how you turn it, Bitcoin for most people is just a speculative investment tool. If they see something that might push the price to much higher levels, then it's obvious that people will jump on it with the result that the hype is gaining size. This time it was the ETF and next time it will be something else that people will hold on to and start speculating in the wildest possible manner.

batang_bitcoin

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Quote from: Herbert2020 on March 11, 2017, 03:30:39 AM

Quote from: batang_bitcoin on March 11, 2017, 03:19:31 AM

It's funny that people can't move on about the rejection of ETF

and none of them ever matter!

Well yeah that's true, it may do good and contribute with the adoption of bitcoin and as well its price. But the reality people are forgetting that bitcoin can stand alone and with our support it is what it is since from the beginning, they need it to remember that.

NamedUser

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It looks to me like there were only some people speculating on the price of bitcoins based on the ETF passing. Bitcoins are still holding steady and we're still going to see huge rises in the future, ETF or not.

manselr

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Good point. People often lose perspective when some event makes the price go up due some expectation of hype towards something that is about to happen, but let's not forget the fundamentals of bitcoin being underrated are still there. Price will keep going up with or without the ETF.

Alex Mercer

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I think the approval would attract people who still do not see Bitcoin as a currency. But yeah, this would be just another kind of service that would be part of the ecosystem. Bitcoin will continue to play its role without that happening, and there is a great possibility that this will be available in the future.

BrewMaster

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There is trouble abrewing

true that

people (usually newcomers) don't know this and you can't say this enough times compared to all the FUD that you hear against this.
they have to realize bitcoin is rising because of adoption and the fact that new people are investing in it and the old people invest more money every day and that simply creates a big demand causing the rise. and we are very far away from the final price when you can say it is no longer going to rise or it is harder to go higher and that price would be around 10K

Kevin77

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Quote from: pooya87 on March 11, 2017, 12:50:02 AM

when these are successful, they help bitcoin because it is an addition on top of an already good system.
when these things fail, they just disappear and leave the market open to others.

Mtcox failed but now we are having plenty of established exchanges around the globe. Very soon we are going to have another company's etf as they will come forward with fulfilling what went wrong with Winklevoss' proposal.

ETF rejection provided opportunity to feed for the people who are enjoying their days by spreading FUDs against bitcoin ecosystem. Hopefully bitcoin will continue its rally as new investors will help prices to sustain and to surge up.

Denker

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Quote from: 1Referee on March 11, 2017, 05:09:23 AM

People never change. It was like this back in 2013, and today in 2017 it's still the same. Everything is perfectly fine when the price starts moving up, but as soon as it starts to correct (reason doesn't matter), people suddenly lose all faith and start expecting the worst, and start selling like there is no tomorrow, lol. Let these people sell their coins in panic, the market won't miss them. Coins change from owner and eventually land into stronger hands. That's how the market works. And later when the price recovered, these people will bravely buy back their coins at far higher levels than where they sold at.

Yes this is how human behaviour often works.
That's why you should take advantage of a situation when there's bloon on the streets. But this is easy said as our psyche doesn't make it that simple for us. You need to have strong nerves and keep cool!

electronicash

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it is of course not doomed but will rise gradually still. i never really expect btc will be accepted. its decentralized and opensource, i don't think government will like all these stuff. its never going to be accepted thats for all tokens and coins.

1Referee

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People never change. It was like this back in 2013, and today in 2017 it's still the same. Everything is perfectly fine when the price starts moving up, but as soon as it starts to correct (reason doesn't matter), people suddenly lose all faith and start expecting the worst, and start selling like there is no tomorrow, lol. Let these people sell their coins in panic, the market won't miss them. Coins change from owner and eventually land into stronger hands. That's how the market works. And later when the price recovered, these people will bravely buy back their coins at far higher levels than where they sold at.

Herbert2020

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Quote from: batang_bitcoin on March 11, 2017, 03:19:31 AM

It's funny that people can't move on about the rejection of ETF

this is just a phase, people in bitcoinestan! seems to be seeking some news to make themselves busy with.
think back to any of the previous years, every now and then there is some news like this that people start fixating on sometimes for a short time and sometimes for a longer time. today it was ETF, yesterday it was PBoC before that it was halvening and way before than it was Mike Hearn FUD and so on.
and none of them ever matter!

clixcoin

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Quote from: Slark on March 11, 2017, 02:50:05 AM

People complaining bout rejection of ETF don't get the whole picture here. It is actually better that we DON'T have ETH just now.
Take you time to buy still cheap coins and wait for the future, as we will reach moon, with or without ETF.
I just don't agree that ETF was crated just for bitcoin, they were used to manage stocks, commodities, or bonds before.

You're right this is the time to buy because people still have chance to make to get some cheap coins as I think price would get touch above $3k in few days. Some positive signs are showing great future so just buy as much as anybody can.

metony

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Quote from: batang_bitcoin on March 11, 2017, 03:19:31 AM

It's funny that people can't move on about the rejection of ETF and doesn't recognize and realize that bitcoin did never got some help from any approvals to make it far to $1k+. Well if that will be approved that like you had said, it will give us a good advantage for the price to keep increasing but if it doesn't then it's very simple that there's nothing that will happen. Feeling sorry for those panic sellers.

Fully agree with you but sellers are always panic mood when they have seeing everything down in just 2-4 minutes and hype create to sell in all exchange.

Bitcoin is long term in demand we believe it and strongly hold it

batang_bitcoin

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It's funny that people can't move on about the rejection of ETF and doesn't recognize and realize that bitcoin did never got some help from any approvals to make it far to $1k+. Well if that will be approved that like you had said, it will give us a good advantage for the price to keep increasing but if it doesn't then it's very simple that there's nothing that will happen. Feeling sorry for those panic sellers.

Slark

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People complaining bout rejection of ETF don't get the whole picture here. It is actually better that we DON'T have ETH just now.
Take you time to buy still cheap coins and wait for the future, as we will reach moon, with or without ETF.
I just don't agree that ETF was crated just for bitcoin, they were used to manage stocks, commodities, or bonds before.

Seansky

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Quote from: pooya87 on March 11, 2017, 12:50:02 AM

it has been about 8 years since bitcoin was created and the price has been rising ever since.
Winklewoss ETF and other ETFs were created just to take advantage of this new technology and offer a service on top of it. just like what exchanges, casinos, mixers, web wallets,.... are doing.

when these are successful, they help bitcoin because it is an addition on top of an already good system.
when these things fail, they just disappear and leave the market open to others.

so stop whining about bitcoin price and talking about doom just because this ETF was rejected, it is starting to get too boring...

Ver well said there OP. Instead of saying bitcoin was doomed, and done for or dead, they should just shut up, relax, and start holding their bitcoin and wait for a pump to happen so that they can sell and rebuy again. I really do hope that we will be able to see price ranges that we have seen before the news of ETF denial came out.

pooya87

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it has been about 8 years since bitcoin was created and the price has been rising ever since.
Winklewoss ETF and other ETFs were created just to take advantage of this new technology and offer a service on top of it. just like what exchanges, casinos, mixers, web wallets,.... are doing.

when these are successful, they help bitcoin because it is an addition on top of an already good system.
when these things fail, they just disappear and leave the market open to others.

so stop whining about bitcoin price and talking about doom just because this ETF was rejected, it is starting to get too boring...

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