What will SEC delay on Spot ETF approval do to Bitcoin's price? - page 2.

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Quote from: YUriy1991 on December 27, 2023, 04:43:31 AM

Quote from: Dave1 on December 27, 2023, 04:09:09 AM

And we can say by now that there is no effect on CZ related news? On the contrary we almost hit $45k if I'm not mistaken in the last leg up that we had this year. Prices though decline and we are now at the $42k'ish.

But we can say that investors are now intelligent to not get affected by this kind of news.

On the contrary, we could think ahead that a approval might be imminent at the start of the year?

Now many investors are smart and describe this incident as just an illustration of regulatory enforcement efforts that can increase public interest in crypto assets and nothing more. If I read and read in several mainstream media, many are reporting the schedule for the Bitcoin ETF application on January 10 2024. However, in my view, if all the processes run smoothly, then the Bitcoin ETF could soon be launched on the United States stock exchange and later the Bitcoin ETF will be an indicator. major integration of Bitcoin into mainstream financial structures.

This upcoming January 10th is another main event that will definitely raise the market again, whether the SEC delays the bitcoin spot ETF or not. Whether the rise will continue or not?

Questions that most people in the crypto space are looking forward to. And in the event of the delaying tactics that they often use, for sure there can be a breakout of the market to have a liquidation in a few weeks, which will be a movement in its market price value and then another cycle of the position in terms of price in the market.

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Quote from: fzkto on December 27, 2023, 01:19:53 PM

Quote from: naira on December 27, 2023, 09:40:51 AM

Quote from: kentrolla on November 19, 2023, 06:13:32 AM

I am not sure if all of us are aware of not as SEC has delayed their decisions on Spot ETF application but they were supposed to take the decision by now and will this delay cause any set back in price ? People were speculating that there would be a price drop before halving and that didn't happened due to ETF as it helped increasing the value and since it's been delayed now will it cause any impact for the Bitcoin price? if yes then how much would it be and will it be that way till halving?

Based on my perspective on the SEC and this ETF delay there are 3 conclusions that can be drawn.
Firstly, if it fails, it means that market sentiment towards Bitcoin will decline, resulting in the price falling, even though it is halving, the hype will not be as high as when the ETF was approved.

Second, if the Bitcoin ETF is successfully approved, of course 2 big forces will make it possible for Bitcoin to experience a high spike even before the Halving. In other words, there are 2 phases which are definitely an opportunity for holders to pay attention to these 2 moments.

Third, the SEC deliberately postponed it even though the ETF proposal was close to being hammered and wanted to damage market sentiment into uncertainty, aka floating between buyers' concerns about entering or waiting longer to determine which direction Bitcoin would move.

From the 3 points above, I personally remain on the initial path whether there is an ETF approval or not, the target towards the Halving is the point that we are waiting for. At least reflect on the previous Halving movement where ATH will be touched even if it is only a few percent difference.

It may happen that etf will be accepted, but the price will go down, because the current situation in the cryptocurrency market is a big manipulation. It is profitable for someone to keep the price high now, but later there will be an opportunity to buy cheaper, for example before halving.

It wouldn’t be a surprise to see the price immediately fall after the decision as people take profits. Longer term though this will most definitely have a positive effect on Bitcoin’s price. If there is enough big money waiting on the sidelines we may even see a price spike when a decision is announced. Well have to wait another few weeks to see.

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Quote from: kentrolla on November 19, 2023, 06:13:32 AM

People were speculating that there would be a price drop before halving and that didn't happened due to ETF as it helped increasing the value and since it's been delayed now will it cause any impact for the Bitcoin price? if yes then how much would it be and will it be that way till halving?

People are taking their positions in the market because of two events, One is the category of investors that aimed at profiting from Bitcoin ETF should it get approved, whereas the other set of investors are those that invested because of Bitcoin Halving that will take place come 2024, in case Bitcoin spot ETF did not get approved by the SEC at the end of the day, I kind of think that the set of investors that probably may think of to sell their Bitcoin are those that invested because of the Bitcoin Spot ETF, and the impact will not be felt much because it will be immediately get absorbed by the second event, Halving.

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Quote from: naira on December 27, 2023, 09:40:51 AM

Quote from: kentrolla on November 19, 2023, 06:13:32 AM

I am not sure if all of us are aware of not as SEC has delayed their decisions on Spot ETF application but they were supposed to take the decision by now and will this delay cause any set back in price ? People were speculating that there would be a price drop before halving and that didn't happened due to ETF as it helped increasing the value and since it's been delayed now will it cause any impact for the Bitcoin price? if yes then how much would it be and will it be that way till halving?

Based on my perspective on the SEC and this ETF delay there are 3 conclusions that can be drawn.
Firstly, if it fails, it means that market sentiment towards Bitcoin will decline, resulting in the price falling, even though it is halving, the hype will not be as high as when the ETF was approved.

Second, if the Bitcoin ETF is successfully approved, of course 2 big forces will make it possible for Bitcoin to experience a high spike even before the Halving. In other words, there are 2 phases which are definitely an opportunity for holders to pay attention to these 2 moments.

Third, the SEC deliberately postponed it even though the ETF proposal was close to being hammered and wanted to damage market sentiment into uncertainty, aka floating between buyers' concerns about entering or waiting longer to determine which direction Bitcoin would move.

From the 3 points above, I personally remain on the initial path whether there is an ETF approval or not, the target towards the Halving is the point that we are waiting for. At least reflect on the previous Halving movement where ATH will be touched even if it is only a few percent difference.

It may happen that etf will be accepted, but the price will go down, because the current situation in the cryptocurrency market is a big manipulation. It is profitable for someone to keep the price high now, but later there will be an opportunity to buy cheaper, for example before halving.

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Quote from: naira on December 27, 2023, 09:40:51 AM

From the 3 points above, I personally remain on the initial path whether there is an ETF approval or not, the target towards the Halving is the point that we are waiting for. At least reflect on the previous Halving movement where ATH will be touched even if it is only a few percent difference.

Likely in few days later we will see the result or announcement with bitcoin ETF approving or denied by SEC Commission, based on your points likely not matter if bad possibility Bitcoin ETF denied because few months close halving time and bitcoin keep on the higher price. Hope in short time has result about bitcoin ETH approve or not to get bitcoin potential will raise more higher price if approve or little correction if get denied and moment for us buy back prepare for bitcoin halving time.
In short time we can get bitcoin touch new ATH if get approval but not pessimistic with bitcoin can't make new ATH if denied of ETF approval due investors have been smart and not take care what the result approve or denie?

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Quote from: kentrolla on November 19, 2023, 06:13:32 AM

I am not sure if all of us are aware of not as SEC has delayed their decisions on Spot ETF application but they were supposed to take the decision by now and will this delay cause any set back in price ? People were speculating that there would be a price drop before halving and that didn't happened due to ETF as it helped increasing the value and since it's been delayed now will it cause any impact for the Bitcoin price? if yes then how much would it be and will it be that way till halving?

Based on my perspective on the SEC and this ETF delay there are 3 conclusions that can be drawn.
Firstly, if it fails, it means that market sentiment towards Bitcoin will decline, resulting in the price falling, even though it is halving, the hype will not be as high as when the ETF was approved.

Second, if the Bitcoin ETF is successfully approved, of course 2 big forces will make it possible for Bitcoin to experience a high spike even before the Halving. In other words, there are 2 phases which are definitely an opportunity for holders to pay attention to these 2 moments.

Third, the SEC deliberately postponed it even though the ETF proposal was close to being hammered and wanted to damage market sentiment into uncertainty, aka floating between buyers' concerns about entering or waiting longer to determine which direction Bitcoin would move.

From the 3 points above, I personally remain on the initial path whether there is an ETF approval or not, the target towards the Halving is the point that we are waiting for. At least reflect on the previous Halving movement where ATH will be touched even if it is only a few percent difference.

fzkto

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Quote from: YUriy1991 on December 27, 2023, 04:43:31 AM

Quote from: Dave1 on December 27, 2023, 04:09:09 AM

And we can say by now that there is no effect on CZ related news? On the contrary we almost hit $45k if I'm not mistaken in the last leg up that we had this year. Prices though decline and we are now at the $42k'ish.

But we can say that investors are now intelligent to not get affected by this kind of news.

On the contrary, we could think ahead that a approval might be imminent at the start of the year?

Now many investors are smart and describe this incident as just an illustration of regulatory enforcement efforts that can increase public interest in crypto assets and nothing more. If I read and read in several mainstream media, many are reporting the schedule for the Bitcoin ETF application on January 10 2024. However, in my view, if all the processes run smoothly, then the Bitcoin ETF could soon be launched on the United States stock exchange and later the Bitcoin ETF will be an indicator. major integration of Bitcoin into mainstream financial structures.

I don't know how this new etf will be able to attract new users or investors. Nowadays adverts for exchanges or crypto casinos can be seen from buses to top football clubs. So no one has a problem to buy bitcoin. It seems to me that the number of users will not increase and it may happen that big capitals will not come to crypto after the adoption of etf.

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Quote from: Dave1 on December 27, 2023, 04:09:09 AM

And we can say by now that there is no effect on CZ related news? On the contrary we almost hit $45k if I'm not mistaken in the last leg up that we had this year. Prices though decline and we are now at the $42k'ish.

But we can say that investors are now intelligent to not get affected by this kind of news.

On the contrary, we could think ahead that a approval might be imminent at the start of the year?

Now many investors are smart and describe this incident as just an illustration of regulatory enforcement efforts that can increase public interest in crypto assets and nothing more. If I read and read in several mainstream media, many are reporting the schedule for the Bitcoin ETF application on January 10 2024. However, in my view, if all the processes run smoothly, then the Bitcoin ETF could soon be launched on the United States stock exchange and later the Bitcoin ETF will be an indicator. major integration of Bitcoin into mainstream financial structures.

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Quote from: bbc.reporter on November 22, 2023, 09:48:20 PM

@Smack That Ace. Agreed that there was a decline, however, how much was this decline? It was not enough to bring back the cryptospace to another bear market. The pump the next day on bitcoin made i appears that there was no decline heeheheh.

However, what might be concerning is if the American government can force CZ to step down and face criminal charges, it can also do it against many more exchanges. Kraken is presently being targeted be the SEC.

And we can say by now that there is no effect on CZ related news? On the contrary we almost hit $45k if I'm not mistaken in the last leg up that we had this year. Prices though decline and we are now at the $42k'ish.

But we can say that investors are now intelligent to not get affected by this kind of news.

On the contrary, we could think ahead that a approval might be imminent at the start of the year?

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@Smack That Ace. Agreed that there was a decline, however, how much was this decline? It was not enough to bring back the cryptospace to another bear market. The pump the next day on bitcoin made i appears that there was no decline heeheheh.

However, what might be concerning is if the American government can force CZ to step down and face criminal charges, it can also do it against many more exchanges. Kraken is presently being targeted by the SEC.

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Quote from: bbc.reporter on November 21, 2023, 10:12:57 PM

Quote from: Smack That Ace on November 20, 2023, 11:10:17 PM

Quote from: bbc.reporter on November 20, 2023, 10:42:50 PM

Quote from: Alpha Marine on November 20, 2023, 04:54:24 PM

At this point, I don't think there will be any more dip till the halving. A lot of people will be buying Bitcoin while anticipating the halving. This will increase the demand and make the price keep increasing.

As for the ETF, a lot of experts believe it will be approved in Janus and that's like 2 months from now. It's not a very long time so people who bought Bitcoin for that reason won't want to sell it off when they could hold on for 2-3 more months and see what happens.

It might not only be the halving, I reckon. People are buying because they are also anticipating the approval of Blackrock's ETF application which I speculate might the first to be approved. The date for Blockrock's final deadline will be on March 15, 2024. After this first approval, all of the applications after this will be approved and the people who are unconvinced that it is a bull market will be convinced hehehehee.

Whether halving or ETF, there is no guarantee that bitcoin will never drop in price again, this thinking seems too naive for a market as volatile as bitcoin. Don't forget that this is not just a game for retail investors like us, we also have market makers, whales...a lot of big guys in the market and they can manipulate market according to their wishes. Therefore, do not be too subjective and think that increased demand for bitcoin means the price will always increase, not decrease. Bitcoin can go up and down whenever it wants without any news affecting it, and sometimes news is just a way to hide their manipulation from us.

It will certainly drop, however, will it drop to the lowest prices of 2022? I am quote certain that there is a higher chance that we will witness bitcoin pump to $40k. I am also not saying this because it is presently on $36k. I have been saying this since bitcoin was on $25k.

Also, the power of the big guys on the market is very overestimated, in the cryptospace and tradfi. We have witnessed this when the rulers of Wall Street asked for a bailout on 2008 hehehehe. It was taxpayer's money that saved them.

Have you seen the news today, the market is starting to decline and this time it is none other than the news related to CZ. He pleaded guilty and resigned from his leadership position at Binance, and if he is sentenced to prison, the market will be affected whether we like it or not. Those who believe that the market will no longer decline just because the halving is approaching should be careful of bad news happening in the market.
By the way, many people will gloat when they see CZ resign, but this is really a pity for a talented person like CZ.

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Quote from: Smack That Ace on November 20, 2023, 11:10:17 PM

Quote from: bbc.reporter on November 20, 2023, 10:42:50 PM

Quote from: Alpha Marine on November 20, 2023, 04:54:24 PM

At this point, I don't think there will be any more dip till the halving. A lot of people will be buying Bitcoin while anticipating the halving. This will increase the demand and make the price keep increasing.

As for the ETF, a lot of experts believe it will be approved in Janus and that's like 2 months from now. It's not a very long time so people who bought Bitcoin for that reason won't want to sell it off when they could hold on for 2-3 more months and see what happens.

It might not only be the halving, I reckon. People are buying because they are also anticipating the approval of Blackrock's ETF application which I speculate might the first to be approved. The date for Blockrock's final deadline will be on March 15, 2024. After this first approval, all of the applications after this will be approved and the people who are unconvinced that it is a bull market will be convinced hehehehee.

Whether halving or ETF, there is no guarantee that bitcoin will never drop in price again, this thinking seems too naive for a market as volatile as bitcoin. Don't forget that this is not just a game for retail investors like us, we also have market makers, whales...a lot of big guys in the market and they can manipulate market according to their wishes. Therefore, do not be too subjective and think that increased demand for bitcoin means the price will always increase, not decrease. Bitcoin can go up and down whenever it wants without any news affecting it, and sometimes news is just a way to hide their manipulation from us.

It will certainly drop, however, will it drop to the lowest prices of 2022? I am quite certain that there is a higher chance that we will witness bitcoin pump to $40k. I am also not saying this because it is presently on $36k. I have been saying this since bitcoin was on $25k.

Also, the power of the big guys on the market is very overestimated, in the cryptospace and tradfi. We have witnessed this when the rulers of Wall Street asked for a bailout on 2008 hehehehe. It was taxpayer's money that saved them.

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No one knows how much the price will be pertaining to this delay in approval for the applied Bitcoin spot ETFs. And with the possible drawback of Bitcoin's price, what's possible is due to the correction that we need to see and I think it's happening now.

But to look at a greater correction, I don't think that we'll see that prior to halving and with the potential of approval for any of the Bitcoin ETFs that has been applied.

One time will come after the halving and whether these ETFs approved or not, we won't be depending to its delay and everyone's mind will be focused on the actuality of Bitcoin and the mining rewards that has been halved that shall price drive the demand and price higher.

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Quote from: kentrolla on November 19, 2023, 06:13:32 AM

I am not sure if all of us are aware of not as SEC has delayed their decisions on Spot ETF application but they were supposed to take the decision by now and will this delay cause any set back in price ? People were speculating that there would be a price drop before halving and that didn't happened due to ETF as it helped increasing the value and since it's been delayed now will it cause any impact for the Bitcoin price? if yes then how much would it be and will it be that way till halving?

I could have expected a correction as the SEC delayed the ETF announcement, so I'm not surprised by the current facts. However, I do not expect a major correction that could reach $35k or lower although in the end FUD will be spread in various ways to make the weak parties release their grip on bitcoin. There is nothing better than maintaining optimism and sticking to a long-term plan, meaning ignoring the short-term volatility and staying safe.

Entering the last 10 days of November, bitcoin trading volume increased further. This indicates there is high supply and demand in the market, but there is still a possibility that we will close the month at no less than $38k. Regarding the potential correction before the halving, I think that will continue to be discussed, but the fundamentals are not so negative so I can still maintain optimism about the good potential ahead of the halving.

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Quote from: kentrolla on November 21, 2023, 12:10:22 PM

Quote from: adaseb on November 21, 2023, 12:09:47 AM

Well I am fairly sure it won’t be approved anytime in 2023. Maybe in January 2024. However it would be crazy if the SEC approved the etf tomorrow while yesterday they sued Binance and Kraken. It’s very difficult to read that Gary Gensler.

At first we assumed he was finally pro Bitcoin with his Satoshi tweet but a week later he is calling crypto a scam and suing exchanges left and right. Honestly it would be best if he was replaced by someone else.

Yeah we cannot expect SEC approval this year and though there are speculations that chances of spot ETF getting approved are higher but still we can never ever trust a banker when it comes to crypto as they will always be against crypto because of conflicting nature of operations between crypto and banks.

As many has mentioned we should be bothered even if this doesn't get approved because this is kust like cherry on toppings as it will have positive impact if get approved and very lesser or no impact if the outcome is negative.

the catch is that Bitcoin will have to be deemed Security before it will approved for its ETF. is going to be a dilemma because, on the other hand, we want adoption and price rocketing to Mars with the help of ETF approval yet on the other hand, being a security means the current Securities law applies to Bitcoin and ETH.

it's like the SEC is choking crypto either comply or there will be no approval.
what is currently going on with Kraken and Binance these days must be related to this compliance.

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Currently, Bitcoin is holding the support level but the market is crashing, TBH Altcoins are bleeding there is some news about CZ's retirement news, Binance's statement news etc, etc. I was wondering that 3%+ total crypto market capital dropped by just this random news.

Something is changing the direction currently market is behaving very unusually, I was expecting something supporting from the SEC's side but they are currently aiming at the Kraken exchanges their developments are not promising at all. Some negative vibes.

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Quote from: adaseb on November 21, 2023, 12:09:47 AM

Well I am fairly sure it won’t be approved anytime in 2023. Maybe in January 2024. However it would be crazy if the SEC approved the etf tomorrow while yesterday they sued Binance and Kraken. It’s very difficult to read that Gary Gensler.

At first we assumed he was finally pro Bitcoin with his Satoshi tweet but a week later he is calling crypto a scam and suing exchanges left and right. Honestly it would be best if he was replaced by someone else.

Yeah we cannot expect SEC approval this year and though there are speculations that chances of spot ETF getting approved are higher but still we can never ever trust a banker when it comes to crypto as they will always be against crypto because of conflicting nature of operations between crypto and banks.

As many has mentioned we should be bothered even if this doesn't get approved because this is kust like cherry on toppings as it will have positive impact if get approved and very lesser or no impact if the outcome is negative.

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I don't know if the ETF deliberately delayed it before doing the halving but it seems like they had their own reasons although what I said before could also be a reason.
I strongly assume they postponed it because of that.

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Personally, I do not expect any setback in price due to the SEC's decision to delay its decisions on the Spot ETF application, I expect that we have overcome the negative impact.

Bitcoin price is moving sideways at the 36-37K$ area, and it remains stable there so far, preparing to move towards the 40K$ area, I hope.

This is not the first time that the SEC has postponed its decision, and yet we find that the effect is very weak or non-existent, and if it happens, it will be in a very short time, so I do not see any fear for Bitcoin at the present time.

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Well I am fairly sure it won’t be approved anytime in 2023. Maybe in January 2024. However it would be crazy if the SEC approved the etf tomorrow while yesterday they sued Binance and Kraken. It’s very difficult to read that Gary Gensler.

At first we assumed he was finally pro Bitcoin with his Satoshi tweet but a week later he is calling crypto a scam and suing exchanges left and right. Honestly it would be best if he was replaced by someone else.

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