SEC rejects Bitcoin ETF again. Bear market to continue.

Baofeng

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Quote from: pinoyden on July 29, 2018, 12:32:02 AM

Quote from: qazgroup on July 28, 2018, 04:58:57 PM

It was just a fud news posted now about an old etf rejection and has nothing to do with the current active etf application, the new date for btc etf is set at 21 september and i do not agree with you about bears anymore, bear trend is over already and we will see massive gains from here.

Even if it just a fud news , it can still have a minor effect to the price of cryptos . cant you see that overall value of crypto had dropped again ? That maybe because of these etf issue and i guess the bear market will still continue but it is not the end of cryptos , infact this even can still be beneficial to some people that constantly investing on cryptos because they can still afford to buy in a cheaper price . if many people and investor will keep doing that , we can surely see a price increase again in the future.

Well we all know that those FUD have short lived effect to the price. And the rejection for me was forthcoming, the twins first application was rejected, so I don't know what changes they did to their proposal, but the end result is still the same. I believed though that we are getting further away from the bears claw, but we all know how volatile and fragile this market is, just another negative news will suddenly make the gains we have in the past 2 weeks go down the pipe.

pinoyden

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Quote from: qazgroup on July 28, 2018, 04:58:57 PM

It was just a fud news posted now about an old etf rejection and has nothing to do with the current active etf application, the new date for btc etf is set at 21 september and i do not agree with you about bears anymore, bear trend is over already and we will see massive gains from here.

Even if it just a fud news , it can still have a minor effect to the price of cryptos . cant you see that overall value of crypto had dropped again ? That maybe because of these etf issue and i guess the bear market will still continue but it is not the end of cryptos , infact this even can still be beneficial to some people that constantly investing on cryptos because they can still afford to buy in a cheaper price . if many people and investor will keep doing that , we can surely see a price increase again in the future.

qazgroup

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It was just a fud news posted now about an old etf rejection and has nothing to do with the current active etf application, the new date for btc etf is set at 21 september and i do not agree with you about bears anymore, bear trend is over already and we will see massive gains from here.

fabiorem

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What bear market? Bear market at 8k? Bear market with the CNBC telling the sheeple to buy? Where is the 3k the bears so much promised for July? Where it is?

And look what the cat dragged in. If TEH DUCK says it will continue, then its dead.

el kaka22

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People are thinking going into a trillions of dollar worth of market looks easy. It is not, it will take a long time before we can see a bitcoin ETF however the reason why the investors get into bitcoin is not the ETF.

Do you really believe that these huge whales with millions of dollars can't see the ETF will get rejected but we can see it ?

Rich people are not stupid they know what they are doing, especially those rich people who got rich with financial methods. They knew it would be rejected yet bought anyway. So don't expect a bear market that quickly if ETF gets rejected.

Even though, yet one more time bitcoin etf by Winklevoss twins got rejected, I am confident about the news and awareness they have created along their two etf attempts will be enough for bringing new people into bitcoin ecosystem. Including myself, people are expecting someone on someday to get etf approved and due to that how high bitcoin prices will fly. When this kind of expectations on bitcoin remains alive, how we can expect bear market to dominate all the times ?

Denker

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Quote from: cryptokwuk on July 27, 2018, 10:57:51 AM

With the few bulls still standing the ETF was basically their only hope of a recovery. Now that the ETF has been rejected again we can expect a long term serious bear market to continue exactly as i predicted.

https://www.coindesk.com/winklevoss-brothers-bitcoin-etf-rejected-by-sec-for-second-time/

Who is "we"? Cheesy

Furthermore the Winklevoss ETF was already rejected once and delayed by a second attempt with a highly chance of getting rejected again. Most of US expected that to happen. So yesterdays shake out was a good opportunity to buy the dip.
And as WE can see now we have already fully recovered.
Bitcoin's doing good and imo the bottom is in. We may swing for a while between 6.5k and 10k before finally breaking through $10k and move higher.

tranduc2101

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I heard about this news yesterday, and this has made Bitcoin and the crypto market fall. But today the price is continuing to rise; I think that this news does not have much effect on the price of the market in the next few days.

piterpie

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As far as I know, there is no accurate information that the Czech Republic will refuse to accept the ETF. We still have a lot of hope in August. I think the ETF will be accepted because many people support Bitcoin and this number is two-thirds of the world.

peter0425

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Quote from: cryptokwuk on July 27, 2018, 10:57:51 AM

With the few bulls still standing the ETF was basically their only hope of a recovery. Now that the ETF has been rejected again we can expect a long term serious bear market to continue exactly as i predicted.

https://www.coindesk.com/winklevoss-brothers-bitcoin-etf-rejected-by-sec-for-second-time/

What was rejected was the twins ETF proposal and not the VanEck/SolidX which is due sometime in August. The difference is that VanEck/SolidX is what we all have been waiting for because it has reported that it got more than 97% positive comments.

https://cryptodisrupt.com/bitcoin-etf-request-for-comment-97-positive/

pooya87

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even if this hyped up ETF (not the Winklevoss ETF which nobody even knew about) were rejected there still wouldn't be a continuation of the bear market. that thing ended a while ago and it is not coming back anytime soon. any bad news will only postpone the rises that are ongoing and won't be able to cancel them.

timerland

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I think that the bear market will continue to at least the end of the year in terms of bitcoin prices.

However, it wouldn't be necessarily solely because of the ETF being rejected. The market isn't as sensitive to that news anymore to put it simply, after SEC rejected several requests for ETFs previously. This is just a sequel to that.

Just looking at the price history of bitcoin from the 2014 bear market, i think that it is clear there just isn't enough time elapsed for us to consider this bear market to have bottomed and the recovery taking place at the moment. It's very likely that this current rally will not last very long and will correct sooner or later, regardless of the ETF results. Just my 2 cents.

ThePunisher49X

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Same thing happened this time last year when the ETF didn't get approved.
No surprise in this announcement yet again.

The market is recovering and back to $8200. Grin

BItcoin doesn't need it and it only causes uncertainty in the market is all it does. Undecided

Btchunter3333

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I think we will see ETF approved and all should go up. Just hold your coins and wait for a good price.

thecodebear

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Yeah it was just the Winklevoss ETF not the main one. The main CBOE one has been pushed back to September, though honestly I doubt they'll accept it this year. I'm guessing 2019 will be the year ETFs finally get accepted. Regardless of the ETF decision in September, its very possible we're at the beginning of the next long bear market now. We're probably looking at a 2 year upside from here on out so now is a great time to buy and hold until the ETFs and institutional investors all start pouring in during the next two years. Buy at $8000, sell at $100k, then wait for the next crash under $50k to buy back in. Good strategy to follow starting now.

holzer

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Quote from: The Sceptical Chymist on July 27, 2018, 02:08:49 PM

Ah, kwuckduck. I assume this is his alt account.

I can't believe this guy is still here, still doing the same thing. It must hurt him having to watch the price go up knowing he has missed countless opportunities to jump on the train.

The Sceptical Chymist

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Ah, kwuckduck. I assume this is his alt account.

Bitcoin is presently at around $8150, and I'm sure the news is priced into that. True, it could collapse to triple digits tomorrow, but it won't be because of the ETF news, which is now relatively old. And as far as this starting a new bear market, it sure doesn't look that way, does it? Why is it when bitcoin starts running with the bull, kwuck pipes up with his bearish theories? Doesn't he get tired of that?

richardsNY

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I have mixed feelings with all these cash settled instruments, because they indicate that we are growing faster than is healthy for this space. The other aspect is that we'll be moving away from a retail ruled market to an institutional ruled market. It's quite scary to be honest, because institutions will make sure that they get rid of retail investors. I know I won't sell any coins to them, but that's not how most people here think with how ignorant and profit oriented they are. All this greed has never really resulted in anything other than you buying back your coins at way higher levels. Speculate with altcoins not with Bitcoin....

STT

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This rejection of this particular ETF was foreseeable by the market, there are more likely candidates for consideration and that process goes upto next February

I dont think this current trend is bearish as we failed to break below 7724. There is an futures expiry today which had an influence on price movement apparently. RIght now we are on the underside of a positive channel but BTC remains positive since wearing out the negative trend of the last few months.

Here is my view of the graph:

https://i.imgur.com/I2UtSWv.png

YuginKadoya

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Bitcoin doesn't really need to be accepted by SEC because without them the price is still recovering not in a bullish way but in a slowly but surely movement, Even if banks and government would not accept it will still continue to grow, Because it is accepted by many in the community, And I have realized KwukDuck had return with a more bitter out cold shoulder for Bitcoin, But well anything is possible with bitcoin nothing is certain now we can go dip or up but one thing is sure about bitcoin that we can see in the future, It will continue in growing and can reach another All time high that for sure!

cellard

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Quote from: cryptokwuk on July 27, 2018, 10:57:51 AM

With the few bulls still standing the ETF was basically their only hope of a recovery. Now that the ETF has been rejected again we can expect a long term serious bear market to continue exactly as i predicted.

https://www.coindesk.com/winklevoss-brothers-bitcoin-etf-rejected-by-sec-for-second-time/

Lol cryptocuck owned so fast again. The market is recovering quickly because only noobs are paying attention to the ETF. Massive green candle short after you created this thread, looks pretty hilarious now in retrospect.

We are going to be testing 9k soon. Also even if ETF is irrelevant for Bitcoin, some progress is being made at the institutional level because we have SEC Commissioners disagreeing with the resolution:

https://www.sec.gov/news/public-statement/peirce-dissent-34-83723#.W1o-36vBMDU.twitter

So with or without ETF we are going for ATH.

Topic: SEC rejects Bitcoin ETF again. Bear market to continue. (Read 245 times)