What will SEC delay on Spot ETF approval do to Bitcoin's price? - page 3.

electronicash

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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.

i was reading it weeks ago that the deadline was in Jan 2024. and now it's March 15. it looks like they wanted the approval to be close to the halving date.

i'm also seeing there will be a last bear strings that are to be pulled before going up. but most probably not going below $30k and if i am going to prepare for this dump, i would save my USDT ready on the exchange to wait for it to happen. but will also regret it if it doesn't happen.

Smack That Ace

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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.

bbc.reporter

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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.

adaseb

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Today again there was more amendments to the ARK Bitcoin ETF. And price did nothing when the news came out.

Then there was also the Binance getting sued for $4B, and it dumped at first but then rallied. Even BNB recovered. Later there was the Kraken being sued news and again, the market was unphased. So I am guessing we are in a pretty strong bull market since these SEC lawsuits don't cause bitcoin to go down. This is what you want to see in a bull market.

Similar to how in a bear market, whenever we get bullish news, we dump anyways. This is the same but opposite.

Alpha Marine

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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.

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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?

The price didn't get much hit after the announcement that the SEC has delayed the decision on bitcoin Spot ETF. In fact, if you look at the price now, it is again over $37,000+ which shows that people are not willing to dump their bitcoin on the basis of the ETF delay news or any other slightly bearish news for the bitcoin.

Why would they be bearish now when halving is just a few months away? Bitcoin ETF will get approved very soon and the current market sentiments would only mean that bulls are strong in the market and no one is going to sell bitcoin under 40K.

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Quote from: Wapfika on November 20, 2023, 11:55:56 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?

No one expect any early approval either since this type of ETF was rejected/delayed many times by SEC prior to blackrock application. I believe the only reason why the current pending application significant is because the company involved now is too huge for SEC to denied without a proper legal battle.

The approval this time is inevitable so the SEC will surely just use the remaining time they want to possibly delay this because they don’t want Bitcoin in general. Delay will not gonna cause any major dip anymore since this is expected. Only reject or approve is what matter now.

Maybe it's true. At least they didn't deny but they also didn't approve Blackrock's application. The path to the adoption of Bitcoin is to have regulations but come to think of it, there is never a regulation of crypto yet so this is going to be another issue that will leave us hanging and they'd be using this argument to bring price down over and over while Gary doing all these with impunity on his smile.

Wapfika

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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?

No one expect any early approval either since this type of ETF was rejected/delayed many times by SEC prior to blackrock application. I believe the only reason why the current pending application significant is because the company involved now is too huge for SEC to denied without a proper legal battle.

The approval this time is inevitable so the SEC will surely just use the remaining time they want to possibly delay this because they don’t want Bitcoin in general. Delay will not gonna cause any major dip anymore since this is expected. Only reject or approve is what matter now.

yudi09

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The reason for the SEC's suspension of ETFs was said to be a form of caution. Apart from that, postponement is no longer a decision that can make the market volatile because what is awaited is approval. The approval of a Bitcoin ETF by the SEC may have an effect on increasing the price of Bitcoin.
This week the ETF was postponed again and the price did not decline below 35K. I can say that only approval can have an impact on increasing the price of Bitcoin.

kro55

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If you believe that approved ETFs will have a positive impact on bitcoin prices, then don't be surprised that delayed ETFs will also have an impact on bitcoin prices. Are you a long-term or short-term investor? If you are a long-term holder, you don't need to pay too much attention to ETF news because even if the SEC denies it, it won't stop bitcoin from rising in price and making a new ATH. Bitcoin's price increase is inevitable, it's just a matter of time. So you should focus on accumulating bitcoin rather than worrying about whether the ETF is accepted or not, it really doesn't matter that much.

danherbias07

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No, I don't think so. There is a building FOMO in the air and that will be the one reason why lesser investors would dare sell their Bitcoin.
The delay being done by the SEC is just telling investors that it will happen, but the date is not accurate yet. So, if there's a chance to buy at a cheaper price then investors would take advantage of that. Right now, everybody is just waiting but I don't think Bitcoin would be dumped anytime. Might as well swallow the reality that this could be the new bottom and whatever price range we are thinking of purchasing is expired.
The demand might just keep on going up as we get near that approval by the SEC of all the applicants of the Spot ETF. I think in January 2024, there will be one that will be approved and the market will go crazy again.

GreatArkansas

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Most of the deadlines for ETF are in next year. Then the final decision is on next year. And it is just a coincidence Bitcoin block halving will also happen next year.
For me, even there will be delays as long as the final decisions will happen next year there will be no price effects at all, as long as the decision will not happen in the final deadline.

adaseb

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For the past few months, ever since Blackrock announced their bitcoin etf, these delays have done nothing to the price. They get delayed and you look at the charts and it’s not trading down.

Pretty sure everyone knows it will get delayed until the last iteration where it will be the ultimate rejection or approval. Prior to this and these delays don’t make a difference for the market.

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Quote from: mk4 on November 19, 2023, 08:36:50 AM

People in general I think are betting on approval in January 2024. If it gets delayed/declined, I definitely think we're going to get a small setback due to it being delayed/declined. I think the drop will be short-lived though, due to sidelined money waiting for a decently-sized dip.

But there is still a positive side to that Bitcoin futures and Exchange-Traded Funds (ETFs) easing uncertainty and creating a sense of confidence among crypto-skeptical investors. I believe Bitcoin futures and ETFs will finally put the naysayers to rest and legitimize and validate Bitcoin as a has value and as a digital currency. If not Yes. It is inevitable that this decline will only occur in a short time as you say and that makes perfect sense.

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well the price just stagnates, there's definitely no market movement until the news about the decision of spot ETF finally appearing, so many people are anticipating it, everyone is waiting for the news so that they can be sure they are doing the right decision.
after all the sudden price fall of 5% is it truly significant? since right now price are already recovering. but im expecting the market to be instead still growing slowly even if the approval getting delayed.
after all the market sentiment has changed, right now we are in state of bullish even though I don't know for sure whether its truly start of bullish or just gonna outright went to bearish the next month we don't know for sure, only news about approval of ETF could be good news that gonna change entire landscapes.

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The price would immediately drop by $2-3k or even a bit more, and weeks after that there will be stagnation, but other than that there will not be much long-term effects. Halvening will still happen and will greatly impact the market, and once the price will start growing the crypto media will find some new hype narrative to explain the growth and boost the sentiment. That's how it always worked and will likely work again. During covid there was a huge crash, and then Bitcoin quickly recovered and returned to the normal course as if nothing happened.

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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?

The SEC’s decision to delay the approval of a spot Bitcoin ETF has caused some concern among investors. When the SEC announced the delay, Bitcoin’s price fell by 5%. However, it’s difficult to predict how much of an impact the delay will have on Bitcoin’s price in the long run. Some analysts believe that the delay could lead to a further decline in Bitcoin’s price, while others believe that the market has already priced in the delay. It’s worth noting that the SEC has delayed the approval of other Bitcoin ETFs as well, including those from BlackRock and Fidelity. As for whether the delay will continue until the halving, it’s impossible to say for sure.

https://www.coindesk.com/markets/2023/10/18/spot-bitcoin-etf-approval-is-coming-but-analysts-differ-on-possible-price-reaction
https://cointelegraph.com/news/bitcoin-price-drops-as-sec-delays-decision-on-bitcoin-etf-offering-new-trading-opportunities

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Quote from: AmoreJaz on November 19, 2023, 06:22:17 PM

Quote from: lombok on November 19, 2023, 06:19:18 PM

Even without an ETF, Bitcoin will still rise, a natural correction may occur if there is a delay in the decision. Why are we too focused on ETFs, whether ETFs are accepted or not is also not very urgent for Bitcoin. What matters is adoption and real usability. This is very important for Bitcoin's fundamentals, yes I would say that ETFs are just a bonus.

that is true, we have seen in the past years, with approval or not, btc will continue to thrive. sure, approval of btc ETF may influence the market but it is by no means the only reason why BTC will improve its price in the market. so even if they delay the approval, it doesn't matter anymore.

Clearly, Bitcoin prices rose due to the halving event. This is history repeating itself, with historical evidence that already exists from several previous halvings. Every time a halving occurs, Bitcoin will experience bullishness and print the latest ATH from halving to halving. ETFs are just fuel to hype BTC, take the example of yesterday's Blackrock ETF which in fact was also fake news, used as manipulation. I think the ETF news is also part of the manipulation carried out by the US, we know that the US has large amounts of BTC too, the result of confiscations in the Crypto Business.

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Quote from: lombok on November 19, 2023, 06:19:18 PM

Even without an ETF, Bitcoin will still rise, a natural correction may occur if there is a delay in the decision. Why are we too focused on ETFs, whether ETFs are accepted or not is also not very urgent for Bitcoin. What matters is adoption and real usability. This is very important for Bitcoin's fundamentals, yes I would say that ETFs are just a bonus.

that is true, we have seen in the past years, with approval or not, btc will continue to thrive. sure, approval of btc ETF may influence the market but it is by no means the only reason why BTC will improve its price in the market. so even if they delay the approval, it doesn't matter anymore.
it may contribute to further adoption but one should not wait for the approval before accumulating some satoshis. because with or without ETF, we are continuously improving in terms of adoption.

lombok

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Even without an ETF, Bitcoin will still rise, a natural correction may occur if there is a delay in the decision. Why are we too focused on ETFs, whether ETFs are accepted or not is also not very urgent for Bitcoin. What matters is adoption and real usability. This is very important for Bitcoin's fundamentals, yes I would say that ETFs are just a bonus.

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