well the effect is what you just saw and mentioned here! a drop in bitcoin price about 7-8% followed by the altcoin massacre where they each dropped at least 10% and some even up to 20% drops.
it is hard to say what is going to happen when they actually reject ETF in about a month from now because we have already had the drops and also from what i can see the market expects the rejection despite all the hype so everyone is waiting for that date to come so that they can start buying so we may not even see a big drop.
it is hard to say what is going to happen when they actually reject ETF in about a month from now because we have already had the drops and also from what i can see the market expects the rejection despite all the hype so everyone is waiting for that date to come so that they can start buying so we may not even see a big drop.
I think its good that the price fell now even though the news about the postponement I have since sometimes last week maybe its just getting popular that people are only reacting to it. The reason why I said its good is because people are fond of reacting to perceived issues rather than the issue itself. Sometimes last year, when the news filtered about bitcoin being banned the market react badly that when the ban eventually happen, it was as if bitcoin price at the time has developed thick skin. The same thing happen during the time of the first forked coin and there was so much uncertainty about what will happen to bitcoin then price dropped only not fall again when the real fork happened. Eventually it will turn our well when the decision is made. Price will increase if its positive and would drop a little bit or non at all if its rejected for us to start looking out for another ETF decision.
