Topic: What will SEC delay on Spot ETF approval do to Bitcoin's price? - page 4. (Read 402 times)

Isn't it there is a schedule though? so I'm not sure what you meant by SEC delaying their decision. And it's only 1 application that they have delayed and that is the Global X, here is the official documents,

https://www.sec.gov/files/rules/sro/cboebzx/2023/34-98981.pdf

And as what others have pointed out, the price looks strong despite this negative news, meaning investors might have been expecting this. But most likely next year there is no stopping for a Bitcoin Spot ETF approval by the SEC. The best thing to do is just have to wait, we can force SEC to approved it right away.

As per the document, they have a rule that covers postponed regarding their decision, so it's within their power to do that.

I don't see any negative impact though in the price, we are still in highs of $36k->$37k. As for the delay of their decision, we can only speculate that they might have been looking at the proposal more closely, because they know that their decision will be huge as this will set a precent as many big entities are also applying for it. So they will have to decide which one will go first. If there is a price down before halving, then so be it, we can't really stop that from happening. And remember that technically we are still in the bear market so prices might go down. And just think about it, if the approval came after the block halving, then it will be huge for the market as everyone is seeing like a conservative $100k as the price of bitcoin for the next bull run in 2024-2025. So we need more patience and wait for the decision of SEC in this matter.

The summary answer to all your questions is that the delay will not have any substantial and sustainable effect on Bitcoin. As we can see, Bitcoin has been hovering between the tight bound range of about $38,000 and $37,700 lately, and it wouldn't even matter if it breaches such a range as normal market trading without ETF could still achieve that judging by the volatility effect already created in the market. This conclusion is because this delay is not just an unknown one, people were ready and were aware that the initial filing window starts from Nov. 09 to Nov.17 which was on Friday. There are anticipations but the nerves have been cooled down since there is another option for January where the fate of this ETF would be ascertained. I don't expect the market to continue to move haphazardly in such a neutral tone condition.

Personally, I do not expect so much again on the ETF events in relation to the price movements even when approved, I believe it has served its purpose to have hiked the price and has already priced in. I've experienced such in the market where news and rumours would be more powerful than the actual events, so I don't think a different condition will play out here even if it's eventually approved.

Regardless, it might be disastrous to Bitcoin for more than a month if they disapprove of it.

Not going down so far. Since the holders are not dumping, then they are again betting for the approval on January. If by Jan 2024 the ETF will still be delayed, thats when the dump will happen and the  it will spike quickly.

SEC will keep our hopes up and then disappoints us just to manipulate this market.

The SEC playing the waiting game, classic! Gotta love how government agencies take their sweet time. 
People were bracing for a drop before the ETF chatter bumped things up a notch.  But now? It's anybody's guess! This rollercoaster ride of hype and delays is giving me whiplash.  I just hope the powers that be don't stall too long.  These Bitcoin price swings are making me queasy.

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.

The SEC has 240 days to make its final decision from the moment a company formally submits such a request and it is officially accepted. I don't know why you (and many others) think that this time should be different and that the SEC will not use its legal right to postpone the decision until the last minute?


People speculate, but do they even know when the halving is and what it means before the halving? There are still at least 4+ months until the halving, and during that period anything can happen - and that includes a price change in any direction. You should not look at the current price as something that is only the result of waiting for spot ETF approval, but also as a pre-halving period in which the accumulation is increasing more and more because people who invest in Bitcoin still think that the halving will have a positive effect and result in new bull run.

In my opinion the only ETF related news that can have a significant effect on the price is only an approval because that would be the first time. Otherwise, proposing an ETF, SEC delaying its decision, rejections of the proposal, etc. have happened many times before so the market is not really reacting to any of it anymore.

So even of SEC rejects it today, apart from a small number of newbies panic selling, I don't expect much else.

I doubt that the ETFs approval being halted will change anything. It was on the news yesterday that the SEC will halt the approval due to an inadequately regulated crypto market large enough to stop manipulation and whwn this came in, the price of Bitcoin was $36,527.76 and today, it's price has $36,582.37 and if anything it has gone up instead of down.

Bitcoin has been existing long before this ETFs and to say that they contribute to its price growth will not be fair. The way I see these ETFs, they are only a temporary event that will pass so I don't think affect its price much.

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?