Bitcoin Forum

If the news are true then we should expect seeing results either tomorrow or Friday.

"The SEC has an 11th March deadline to make a decision regarding the proposed rule change that would clear the way for the ETF, which would be the first of its kind. Yet because the 11th falls on a Saturday, that decision will come before that date – potentially before Friday, the source said."

[1] http://www.coindesk.com/sec-decide-bitcoin-etf-fate-friday/

Im following on this news and im quiet excited and afraid on what would happen on tomorrow on or upcoming days. Speculations are everywhere regarding ETF approval.

I think it's fair to say that all we know for certain is it's not going to be the 11th.  Whether it's going to be the 10th, the 13th, or possibly even moving the deadline later if they decide they need more time to reach a conclusion, is anyone's best guess right now.  If I had to bet money, I'd put it on some rushed delay tactics and a date well after the 13th.  I think this little saga still has some life in it.  Hopefully I'm wrong, though.

In case of approval, would this open a precedent, giving "sure of approval" to future ETFs (maybe even from other cryptocurrencies)? Or each case is examined separately by the US regulatory bodies?

Drama is already on, there is huge correction going on price right now may be someone from inside know what will be the decision. If it don't got approved there is high chance that price will go even more down to almost 1000$ range but if got approved we will see real price surge.

Thanks for the information, very exciting  news ::)

I really, really don't want to wake up tomorrow & see that it's been rejected. I know that long term it'd just be a minor speed bump & not vitally important that this ETF is approved as others will come (I think another 2 or 3 have been filed by others already).

It'd just be great to get this approved.

This is exactly what I was wondering months ago when I saw that the 11th was actually a Saturday. It can't be the right date because they don't do anything on a Saturday. We'll either have to wait until Monday to get the official news or we'll get it early like Friday afternoon.

I hope SEC will not approve ETF.I dont want to have any derivative maret,what a shit,bitcoin has to be nternet global alternative p2p currency not some speculative vehicle.I dont care of some price drop
Read on coindesk articles about btc adoption in Switzerland and first bitcoin bank for blockchain companies in Europe.ETF is not important for btc,ppl will sell at lower price than will b rebound

A drop down to $1000 as bottom would be a very good outcome in such a scenario!
This sell off we've seen could also be a shake out of weak hands, to accumulate even more coins by big fish before the
ETF gets approved! ;)
So you can spin it however you want. You and me, as small guys what we are, know nothing and can speculate as much as we want. We will know it after the announcment was made.

Nah, it gets more people into the game which in turn gets a higher market cap. We'll see a rise in the LONG TERM for sure. Short term is anyone's guess.

Bitcoin banks? Now there's something horribly detrimental to bitcoins. That's like having to go to the store to buy water bottles. But wait durp I have water at home. It's 100% useless. Only idiots use bitcoin banks and only idiots buy plastic water bottles.

Same here, this is the most waited event this year.  This will either make or break this bitcoin bull rally this year.  But I seen a drop in price recently, is this a correction or some insider having knowledge about the decision and shorting their trades now, expecting negative decision that will trigger massive dumps from the holder?

Insider trading may be a thing but I don't believe this is the case. Who can know what the SEC will do? Only people in the government. Do you think there are bitcoin whales with SEC-tier access to the documents? Im not sure about that. We are still in the early days, most bitcoin whales are computer nerds and cryptoanarchysts. The businessmen whales like Winklevoss are a tiny minority.

Global Advisors Bitcoin Investment Fund got cold feet today and decided to cash out which is why we have had the dip.

 My only other concern is that the etf goes through and nothing even happens with the price. Maybe we will just stay exactly where we are, or even drop.

I'm watching this space OP, keep us updated all the time. I'm curious about the outcome of the decision.

I think also it's a real possibility. Why is the bitcoin price decreasing a lot now? Without reason? Maybe someone already knows the result and sold the information for a good price to a whale. We don't know the face of whales, they can be nerds or businessmen, maybe most rich men hold bitcoins... We will never know. It's a theory, but possible to be true.

One of the three Chinese exchanges opened up withdrawals. So the miners have been saving coins for a month can now sell them.

Well this could be a good reason why the price goes down today.  With same demand and a huge additional supply  coming from miners, there is no doubt the price will actually decrease.  Anyway I hope ETF be approved so we can see BTC at $1500 soon.

Can you give me a source? Their still get pending because the regulator approval. I don't give anything for the current condition of bitcoin.

http://www.coindesk.com/huobi-will-resume-bitcoin-withdrawals-pending-regulatory-approval/

The price could be dropping because most people are saying that it is unlikely that the ETF will get approved. Although it's hard to tell the reason and it is still relatively high right now.

I don't know but my heart is beating faster right now. And I didn't sold some of my coins because I do believe that ETF approval will have a big impact and those panic sellers will regret their move. Let's see what will happen if the price will be rising after this ETF will be approved or denied. I'll following these news now,

i agree with you mate. the price of bitcoin has just dump due to weak hands and panic selling. because lots of holders are somewhat afraid that if ever the ETF will be rejected the price will fall harder. so maybe they we're thinking might as well sell it on higher price before its too late. but in my opinion, whether or nor ETF will have the approval of the SEC, holding or buying bitcoin today is much of a better choice. surely months from now it will still rise to 1500 usd. this ETF approval is just somewhat a form of a shortcut for price increase. BITCOIN is for LONG TERM. It's not meant for weak hands. :)

I think it is dropping because everyone is waiting to see what the result is and a lot of speculators are selling early because they're losing confidence that the ETF is going to get approved, or some whale decided that he liked the high $1.2k values and wanted to make sure he got the most out of his money before anything happened, partially triggering this event.

We might get lucky and it gets approved, and that means value goes up quickly.

This is exciting and we are near to it. I hope SEC will consider ETF and will approve it. We know that when they will make a news about it and published that they approved it. Many investors will get into bitcoin and the price will make it pumping. I'm following the news and I can't wait to see what will be the result.

I know majority of the bitcoin community are much awaiting on this date, and most of them including myself are also expecting something that there is a good news to come for us. Like what I had read on https://bravenewcoin.com/news/bitcoin-price-analysis-buy-the-rumour-sell-the-news/ the next big market move is the SEC ETF decision on March 11th, which is a Saturday, so expect an announcement on Friday, March 10th. Technical remain heavily bullish with price targets between $1400 and $1800 in the coming weeks. Expect the SEC decision to negate any technical in the near term when the announcement is public. I always discredit the ‘buy the rumor, sell the news’ paradigm but it occurs more often than not.

I just hope that this news is not out already (available only for some inner circle traders) and it wasn't main reason behind latest price drop.
Because if that was a cause bitcoin dropped more than 5% during last 24 hours, then I don't want to see how big will it drop when everyone will know about ETF fail.

I believe those old investors that are using Bitcoins since months or years ago won't left Bitcoin because a disapproval, the new investors speculating maybe will, it's important, but it doesn't represent the end of Bitcoin. The price could drop a bit, but at any moment it will recover again and start increasing. Bitcoin survived until now without ETF, it's not now that it will die because ETF disapproval (if it be really disapproved, we don't know yet).

I don't think so that there is a huge increase of bitcoin price if the ETF is approve. There will be two days more before the decision of ETF and the current price rate is down and its continue drowning, I hope it will be a good news for us on march 11.

Remember the whole process has built in deadlines that needs to be met and even if the deadline is set for the 11th, a decision can be made before that. So in all likelihood we will know what was decided before the 11th of March. I think we might hear something on Friday, but I am just taking a calculated guess. ^smile^

This has been going on and on since 2013 and I just want this to end now. The twins has been fighting this battle for a few years now, since their path has split with Charlie and trying to do this in the legal/regulated way. 

No. i think if approved only bitcoin...
is examined by SEC

Speculation may be partially behind the price drop. But one of the three Chinese exchanges that had withdrawals frozen allowed trading to resume. That's a months worth of BTC for some massive mining operations being dumped to cover expenses.

That has to be one of the factors. Also, if ETF is denied at the same time the other two open, get ready to buy because you could see some 2014 pricing.

I'm getting nervous on this. LOL. Anyways, another milestone in bitcoin history whether approve or not. The whole bitcoin community will be all ears come Friday or Monday. I hope the result will be favorable to us so that bitcoin price will rise and most likely be adopted by a lot of merchants globally. But If something doesn't went our way, I think expect a drop in price. I'm speculating that the price will go as low as $900 as base. This is just my opinion.

I don't expect any news until the 13th. I think they already extended the deadline to include Monday, as they won't announce anything on Saturday.
Buy the rumour sell the news in this case would seem to mean that you should sell now and buy back lower after the announcement.

It seems fairly universal that people expect the ETF not to be approved, so buy that rumour (sell Bitcoin), then when it happens, sell the news (buy Bitcoin).

I expect a weekend pump if they really don't announce until Monday, unless there is a leak.

I'd say it's a good thing this gets approved, more exposure will be good for larger adoption and maybe this will get more people worrying about the current backups in transactions which will hopefully force a breakthrough on this matter.

Well, it is possible.

If the people within SEC leak out some info to their family members or friends and tell them to buy a shit ton of bitcoins on their behalf because they know it's going to get approved, or to short sell as much bitcoin as possible on their behalf because they know it is going to get rejected. Although probably that isn't going to happen due to the nature of SEC as a government agency, it is possible.


Well yes. It'll offer a lot more options for the investors for sure.

The problem with that line of logic, more people think it'll be approved. There is a survey on this forum and most speculators are leaning towards approval. You've got a bubble in this thread where you think negatively. Some of it based on bad speculation like the price drop.

If more people think it will be approved, then the price will definitely drop if it's not approved. That would be a good time to buy as much as we can at the lower price before it goes back up again.

Very good for those people are selling his bitcoin on the top price. and i think this is a big gambling about the ETF decision, everyone is the bitcoin trader are betting on that big thing. And i the market will be more sensitive caused by this decision.

Agreed, should be able to make money either way.

I read a news site here that the date change until 13 March
http://www.newsbtc.com/2017/02/06/sec-faces-march-11-deadline-bitcoin-etf-decision/

So, what s the date now, 11th, transferred to 10th due weekend, or 13th??

People are claiming both ways. Unless they have inside knowledge it's anyone's guess. The worst would be for them not to make decision. it would be equal to saying yes but would be ambiguous until Monday night at midnight. Even then, if they made a decision but didn't announce until later it would be shitty.

If you think logically, then it means that they would have to announce their approval or disapproval on a Saturday if you look at 11 March, that doesn't really make any sense. 13 March (Monday) is the only date (also logically) that we will finally end all speculations regarding this ETF.

https://news.bitcoin.com/secs-first-bitcoin-etf-deadline-is-actually-march-13-not-march-11/

Does it really matter when the SEC will announce it?
And does matter if it is a yes or a no in the long run?
Do we really wanna make us dependent from a decision of a central authority as Bitcoiners??!!!
Come on guys!!
Bitcoin will grow in terms of it's network size, it's ecosystem and as well in monetary value also without an ETF!
We've done that the last 8 years! And we will do so in the future and reach $2k or $3k easily!!!!

I've followed that ETF stuff way too much myself to be honest.
But I know that in the long run it doesn't really matter if such financial vehicle exists for Bitcoin or not.

It matters for those who want to know(including myself) and people who are interested to invest because it'll surely affect the price of bitcoin once the decision is announced. We know the price is expected to increase but it might take another halving before we reach to that certain price floor.

We're looking at a drastic and immediate increase in demand so it does matter. At least in the short term. I think Bitcoin will grow, it'll grow faster if the miners can approve a way to increase blocksize too. The greatest threat to bitcoin in the future is the limitations of bitcoin. If it gets approved, I'll keep what BTC I have nd immediately buy more and ride the wave to the crest. If it gets denied, I'll hold what I have and buy when it bottoms out. Either way, I'll be buying BTC.

you were definitely right mate. the disapproval of ETF has also brought a huge impact to bitcoins price. it just dump so hard after the disapproval and those who just bought bitcoin that time is already getting profit these days since bitcoins price are now pumping and kicking back to 1200$ just like before the SEC rendered its decision. so lucky are they!

Im one of those lucky persons that do buy on that price decrease after the rejection even on ETF i do know already that they would probably reject it from the start regarding on bitcoin technical and other issues that they dont like to adopt. But the most important thing of all that we should move on already and forget that even its over now.

how I wish I was one who took advantage to the dumping of price of bitcoin after the rejection of the etf.