Bitcoin Forum

My wife is Chinese American and informs me (from what she hears from her family and what they claim to have read on Chinese language forums) that the Chinese fully expect the EFT to be approved.

1. Is this true - any Chinese speaking/familiar people want to Chime in?
2. If true, do you feel the EFT failure (I expect a fail at least) will trigger panic selling in China?

I have previously figured that when the EFT is rejected there will be some drop but that it won't be severe as, for the most part, the rejection is expected and factored into the price. However, if the a significant number of Chinese investors are aware of the upcoming EFT and believe it will pass, there may be an up coming shock?

Any thoughts?

I think chance of approval is factored in, but not full approval.  If approved, we'll see a fast climb up.  If rule change is denied for COIN listing on Bats, we'll see a very fast drop, maybe $300-$400 down to the $800+ range again for a bit.  There will be other ETFs or ultimately people will start to move on, but a lot rides on the next two weeks by March 10th.

This place is a black hole when it comes to Chinese sentiment. I've been consistently amazed at how little information people have about what happens there. No one could even tell me the mechanics of how exchanges were operating during the Chinese 'ban' phase yet I assume tens of thousands of Chinese people were happily using them right then.

I can tell you that an E-F-T will never get approved.

But an E-T-F just might.  ;)

>.< Sorry. Fail.

people are all experts or better say think of themselves as experts these days which means they always have an opinion about everything, and Chinese forums is the same.
they expect all kinds of things but that doesn't mean they should happan!

and in the end it doesn't matter if they are aware of it or not, when the approval hype hits price will spike temporarily and if the denial hits the drop will hit temporarily.

lol, mostly a typo...

She didnt tell you also what the chinese are planning to do on march 9?, with the control of price.  In recent weeks ETF is the only thing of joy after PBOC incessant fight on bitcoin for control.

the ETF news is becoming big because people are making it big. so it is understandable that everyone all around the world are talking about it. i even heard some stuff in some of the local forums in my country outside of bitcointalk!!

and it is like any other news, i can say a smaller version of the block halving. and the effect will be a smaller version of that too.

good: go up big, have a small correction then stable and up again.
bad: small dip, chance to buy cheap coins, rise again

Not this bullocks again.
There is no ETF coming.
Every few months or so for the past 4 years people have been yelling that. Not going to happen and this bubble will pop again as it always does.

ETF's are a welcome investment opportunity for wealthy traders not willing to buy themselves into Bitcoin through the regular ways. It gives them confidence as even they will realize that this is an investment for the long term. It's no secret or surprise that Bitcoin has so much more growth potential than what we have seen so far. Chances are high that the recent upswing has something to do with the potential ETF approval. Traders realize that if it gets approved, that it will help bring in hundreds of millions of fresh capital. And that's just the beginning. In the same time, it will result in some sort of a drop in case the ETF does not get approved.


Aren't you supposed to only show up at the time the price is getting dumped down? Wrong timing!

Those Chinese forums react similar to us like bitcoin etf is getting approved or not, because no one can be sure.
At the same time I am not seeing any heavy panic selling beyond $900 levels as we have seen $1000 levels before the winklevoss brothers applied for bitcoin etf. So, bitcoin has other reasons to stay on higher side.