SEC Rejects 9 Bitcoin ETF Applications Whats Next Target of bitcoin? - 23 Aug18 - page 2.

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Quote from: adaseb on August 23, 2018, 02:59:25 AM

When the CBOE ETF was delayed, we had a huge dump. Makes no sense since it wasn't rejected and a delay was expected.

Makes perfect sense. Delay with the SEC means rejection by default. The only reason they don't outright reject ETF's is because it's the easiest way out for them.

Quote from: adaseb on August 23, 2018, 02:59:25 AM

When the Bakkt was announced, nothing pretty much happened around that time.

Why should something happen? The only one hyping up BAKKT was the mainstream media, and when that happens, you know it won't impact the market. The price went even down afterwards, which once again proves that you should short mainstream media excitement. They're a great counter indicator of what you should be doing.

Quote from: adaseb on August 23, 2018, 02:59:25 AM

Basically its impossible to trade the bitcoin news and you might as well flip a coin.

It's not impossible, just not suited for everyone. I opened a short just under $6700 yesterday in anticipation of another delay or rejection (which was pretty much guaranteed to happen), and it worked out pretty well for me. I liquidated my position at $6300 with a 5x leverage. I'll do it again next month with the VanEck ETF.

adaseb

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What I find funny is this.

When the CBOE ETF was delayed, we had a huge dump. Makes no sense since it wasn't rejected and a delay was expected.

When the Bakkt was announced, nothing pretty much happened around that time.

When all these ETFs were REJECTED not just delayed, there was a little pump.

Basically its impossible to trade the bitcoin news and you might as well flip a coin.

Slow death

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Quote from: newinbtc on August 22, 2018, 11:52:44 PM

Whats prediction now within year end ?

it was expected that these ETFs would be disapproved and we still have the most important that will be decided until September 30, if by case on September 30 the SEC disapprove the VanEck ETF I hope that people don't enter in panic because we still have good news for the end of the year, I speak of:

NYSE Operator Announces New Global Digital Assets Platform, Plans Bitcoin Futures Launch

Quote from: sunanbonang on August 23, 2018, 12:52:20 AM

this sounds really bad, the price of bitcoin has fallen like a rock.

In fact the market reacted very well, the biggest problem will be if the SEC rejects the VanEck ETF

Quote from: sunanbonang on August 23, 2018, 12:52:20 AM

I hope the price of bitcoin will not go below 6k anymore.

It will be very difficult for this price to be maintained if we do not have good news, but I believe that in the coming months we will have good news

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Quote from: Herbert2020 on August 23, 2018, 12:30:22 AM

Quote from: newinbtc on August 22, 2018, 11:52:44 PM

Whats prediction now within year end ?
Market is already red - https://coinmarketcap.com/

"market" is read again because altcoins are still on a dumping spree that has not yet come close to an end. they continue losing value as their bubbles run out of air. talking about it here however is very irrelevant.

as for SEC and ETF, i am wondering how many more times they have to reject ETFs before we stop even caring about them or talk about them. so far i think they have rejected ETFs at least 20 to 30 times starting from last year.

I wish the altcoins continue to be in a dumping spiral untill they "die" and nobody wants to buy them.
They are slowing down the mass adoption of bitcoin and they are pushing the bitcoin price down,because lots of crypto investors think that they will make big profits with altcoin day trading.
There won't be an apocalypse,if the SEC disapproves the ETF proposal.Bitcoin will go to the moon next year,without any major institutional ivestors.

haroldtee

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Based on how a lot of people have hugely attached ETF proposal to the movement of the market, even with the quick drop in price, it is still trying to hold up.

This market is very unpredictable and for me, I feel the market just moves in the direction it pleases at its own time or will I say the direction the whales are pleased with. The market could go down but the general sentiment in the market has been very bearish for a while now, and I do not see that changing anytime soon, irrespective of the ETF proposal news.

Quote from: hase0278 on August 23, 2018, 12:57:22 AM

Quote from: Herbert2020 on August 23, 2018, 12:30:22 AM

~snip~

Don't think about it too much because I think in the next coming ETF which is CBOE's ETF, things might change(I hope).

Hopefully CBOE will meet its burden under the exchange act, right? We all hope so too and that is all we can do now until then.

hase0278

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Quote from: Herbert2020 on August 23, 2018, 12:30:22 AM

as for SEC and ETF, i am wondering how many more times they have to reject ETFs before we stop even caring about them or talk about them. so far i think they have rejected ETFs at least 20 to 30 times starting from last year.

Don't think about it too much because I think in the next coming ETF which is CBOE's ETF, things might change(I hope).

Quote from: sunanbonang on August 23, 2018, 12:52:20 AM

this sounds really bad, the price of bitcoin has fallen like a rock. it looks like bitcoin prices will drop far enough this time.

It didn't since the fall it has shown for now is not that much since it only had a 3.83% decrease according to coinmarketcap. At least, I'd say the price of bitcoin has just corrected a little after being overbought because of the upcoming ETF that was rejected now.

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this sounds really bad, the price of bitcoin has fallen like a rock. it looks like bitcoin prices will drop far enough this time. I hope the price of bitcoin will not go below 6k anymore.

Herbert2020

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Quote from: newinbtc on August 22, 2018, 11:52:44 PM

Whats prediction now within year end ?
Market is already red - https://coinmarketcap.com/

"market" is read again because altcoins are still on a dumping spree that has not yet come close to an end. they continue losing value as their bubbles run out of air. talking about it here however is very irrelevant.

as for SEC and ETF, i am wondering how many more times they have to reject ETFs before we stop even caring about them or talk about them. so far i think they have rejected ETFs at least 20 to 30 times starting from last year.

newinbtc

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SEC Rejects 9 Bitcoin ETF Applications from ProShares, Direxion and GraniteShares
Sec rejects has rejected a total of nine applications from various btc exchanges

For all three disapprovals, the SEC has stated that:

"[T]he Commission is disapproving this proposed rule change because, as discussed below, the Exchange has not met its burden under the Exchange Act and the Commission's Rules of Practice to demonstrate that its proposal is consistent with the requirements of the Exchange Act Section 6(b)(5), in particular the requirement that a national securities exchange's rules be designed to prevent fraudulent and manipulative acts and practices."

many people Predict if SEC approves price jump . Now sec disapproved now price again down to earth ?
Whats prediction now within year end ?
Market is already red - https://coinmarketcap.com/

Read Full store here more at
Source - https://cointelegraph.com/news/japans-financial-regulator-wants-crypto-industry-to-grow-under-appropriate-regulation

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