Bitcoin Forum

The price shot up over a thousand months before most people even knew about the ETF. What makes you think it will make a difference?

If it's not approved, whales will dump and price will drop... but the panic sellers will send it further. Just HODL. $10k is not far away.

It will dump further. I am waiting...

I do not honestly care if it drops... If it drops deep enough (with or without approval) I need to find some fiat money to buy more coins because it doesn't hurt to own a few more coins when the price restarts to pump... I think Bitcoin is the second best investment opportunity in the cryptosphere - only Monero offers better bargain (but I think one should not be all in Monero though - a nice diversification between Monero and Bitcoin is a prudent way to invest into crypto).

On short time, bitcoin price will go down if ETF isn't approved, but i think it will recover in few weeks. On long, i think that bitcoin prices will go up (bitcoin don't depends on ETFs investors) and the ones that are selling now will buy bitcoins more expensive later.

i don't really care of the drops as well, doesn't matter for the price if ETF is approved, all depends on how buyers think of that. probably this drop will only last a short period then a rise as buying bitcoins again.

I think we're due further falls no matter what happens in the short term.

The ETF is just another excuse for a rapid pump by the same old people a la Cyprus and all those millions, or dozens, of Greeks who bought all the coins.

If it does pass then it might be weeks or months before it's operational. When it is operational it's selling shares in coins that have been parked for years that have nothing to do with the active market. Eventually they will have to buy more but it could take years before that stage.

Like so much good news it goes in the long term bank but nothing happens right now.

This.

The speculators look for news on which to pin their pump. The news becomes an excuse for unusual moves. Then they take profits and it is all over.

I hope some people cashed in when the price was $1270 or thereabouts. It was obvious that there would be a pull-back no matter what happened to the ETF.

Now that the price is going down, instead of selling your bitcoins, isn't it the right time to buy some?

much people can selling bitcoin if ETF not aproved
and bitcoin price if crash and hard dump if much people panic selling, all people selling bitcoin balance

Are you talking about the first run up to $1000? Wasn't that manufactured, manipulated by Mt. Gox?

I hope there's a huge correction from where we are right now. We need a better buying opportunity.

For a Legendary member here in Bitcointalk you still do not get the whole picture. While I agree that holding is the best course of action, there are still some traders who do not care about Bitcoin at all. All they care about are the movements in price because that is where their profit in fiat comes from. So if the ETF is not approved, that is actually good news for them because they can short the market. In a way, yes they are dumb but in some other ways they are also smart depending on your point of view.

you have a very good point here but whenever price drops with random news like ETF news which has nothing to do with bitcoin price, it only means that there are still whales who manipulate the market and there are still other people who don't take this chance to buy bitcoin from the whales and force them to either have less coins or be forced to buy back at higher price and lose money.

in any case, if price drops i would take a short term loan or borrow money from a friend for short term and buy bitcoin with it and pay them back in a short while and keep the profit.

HODL is good policy. However price wont drop after ETF rejection. It is definitely going to get some correction.  Another cause we need to  check is Chinese market situation:

https://www.bloomberg.com/news/articles/2017-03-08/china-s-top-bitcoin-exchanges-extend-suspension-of-withdrawals (https://www.bloomberg.com/news/articles/2017-03-08/china-s-top-bitcoin-exchanges-extend-suspension-of-withdrawals)

I think the ETF will provide significant changes to the bitcoin price movements. on the one hand the ETF will make people more interested in using bitcoin in their daily lives. This is now evidenced by the growing price of bitcoin after the news about the ETF.

well thanks for this info mate, as we knew that this party got  a huge impact with its current value, we can't say what will happen right after the decision but those announcement really make a huge impact with the current value, if this only a test  i think after the correction it will bounce back much stronger.

Who said it would be rejected?

ETF has been rejected twice/thrice earlier. And that too based on security issue and not on price fluctuation. So there is chance of rejection this time as there is chance of approval as well.  Approval will help in gaining rise.

I don't mind a temporary drop. In fact, I would view it as a good chance to buy a little more Bitcoin at a lower price. There's nothing wrong with some price swings as long as the long term price rises.

good catch. i was saying the same thing when first people were starting to talk about ETF and rise! the rise started when people were chasing their own tail and when it reached a high level everyone found out about ETF and price went a little higher.

now whales dumped when everyone were chasing their own tails and now that we are in the dip they are panic selling and chasing their own tail again and whales will start buying from them under-priced :D

10K is still too far away, it is better for me to ride the fluctuation of price to make more bitcoins if I can.

The ETF hype did send the price to almost 1300$. And just a few days before the decision, the whales cashed out their profit sending the price back to 1200$. They are just waiting for others to follow and the price to drop some more before they get in again.

People love to find excuses to trade and profit from pumps and dumps. The ETF is the latest thing for the gambling addicts, they will use this expectation of a dump to actually dump. I hope that the guys that sell off their entire stack get fucked in the ass by the ETF getting approved.

It will probably dip temporarily but be quick back up

So make sure to stock up on coins if it gets declined.

this

tbh, even if it is accepted I expect a dip or at least continued high volatility (a spike followed by a crash back to where we are or lower). The great positive affect of an ETF on the price would take a while to materialise.

Less than 48 hours to know if this is a go or a dud right?
The 11th but others are saying the 13th so what is the correct date to know so we can pull out all of our coins or buy as much as we can up before the roof explodes on those exchanges in China?

Better to let it be slow and steady growth with maximum decentralization of possession bitcoins than the fast and erratic growth with centralized pools of coins. If you do not agree with this argument, then you are thinking in categories, which does not best reflect the interests of Bitcoin in the long term. If your goal is quick to "cut some money", the ETF is a great idea!

Yeah I really think that it is not the ETF why the price would fall,
I think it is really the bitcoin users who are in panic when bitcoin gets denied by the ETF.

If ETF is not approved I think it is a strong indicator that the mainstream financial markets aren't still ready for BTC. So yes it should drop mostly because of short/mid term holders

I knew it! I mentioned this a few weeks ago. The People's Bank of China will never let the Bitcoin exchanges operate without tying there necks with a short leash. They will do this for as long as it takes until they have to bow and give up. Many small exchanges will close in the coming months.

The next thing the Chinese government will go after are the big industrial miners. Just watch.

it might be happen and i think the market will filled by panic sellers and it makes the price getting dump too far. but for wise trader, i think they keep save their bitcoin and only waiting for next new price. i think if its dump too deep, the price will be back and make a new floor for the price so the price is not takes too long in the bottom. but if this is happen, i will waiting and i hope i can have a chance to buy bitcoin in cheap price  ;D

Is this the real reason why it was all but talk for the last 3 years and nothing done about it at all until now with this major movement on it cause some big banker wants to stir up the money market?
Trump maybe behind this to get everybody thinking about bitcoin and those who have their life saving in it.
Banking on it usually have those thoughts on their own circumstances rather than his running the country the way he is up until now. Russia, CIA leaks and proclaiming "I love snap chat!" at one of his podium announcements ::)
http://elitedaily.com/news/politics/snaps-trump-send-on-snapchat/1761183/

If it will not be approved then we already saw the dropped a couple of days ago. And we know when after the drop what's next? Yeah the price will pump so we are on pump right now. Regardless what will be the result of ETF given by SEC. Dumb people will do panic selling, yeah they did already and right now just wait for it we're flying high.

Then take advantage of it, if you got lemons then make lemonade, if noobs want to leave their money on the table then the opportunity is yours don't let it go and take advantage of it, let them lament their mistake.

Ignoring ETF = Ignoring multimillions dollar will flow into the bitcoin market. And all of the bitcoiners really need the approval of bitcoin etf by SEC to pump the price of bitcoin into the next level.
I try to bring all of my bitcoin into the exchange site. And waiting for the deadline or the another announcement will come.

A lot of "Hype riders" are speculating on this ETF approval and I cannot wait for this to stop and to get rid of them. They cause a lot of negative "ripple" affects on the network with all the fud they are spreading to pump the price. The volatility is also not good for merchants that accept bitcoins as a payment option. < Those, not using payment processors >

The ETF hype pumped the price with at least 20% to %30 since this has gained media attention, and that will cause a big dump, when the decision is negative.

Most of these speculators will take profits and leave, even if the decision is positive. They are just riding the hype train.

Everyone is anticipating a fall if the ETF fails so of course that means bitcoin is only going to go up lol you never know what its going to do even when you think you do.

I think most people know that the chances of an approval are very small, so I ask the following question:

Why is bitcoin rise in the last few days? Will be the cause of ETF?


Maybe the price will not drop so much

These markets are all separate. An investment in the Bitcoin ETF does not mean a direct increase in the real Bitcoin market. It is not like the money flows straight to the Bitcoin ecosystem.

Anyway the ETF is rejected. There is no use arguing about it now.

I'd love to make some lemonade right now, but funds are lacking.  This hype about the ETF is just silly, and I don't think this is going to turn out to be anything more than a little correction, which I expected anyway.  Yeah, we dropped below $1100, but we rebounded damn quick after that.  People are mostly dumb, period.  There are a lot of ignoramusses in the bitcoin world as it is (see the current thread by some shmuck offering 1000 sat to visit a website), and only fools sell when the price is dropping.

Market has recovered better than expected. The price is again heading back to 1200$ range.  Looks like more people are not going for panic selling yet.

Same here. :) better than expected.

Is it a good time to buy in more or wait a while? It is hard to decide...

hold on and see what happens after the weekend and take it from there

People who only hold are not contributing to any rises in price.  While people who panic sell on a decision which will clearly only affect Bitcoin reguarly and that is annoying, I don't accept that holding Bitcoin will do anything.  If all you're doing is hoarding it you're not creating any much-needed demand.

Yes. The only people who dumped are the speculators who made a gamble on the approval of the ETF and the amateur traders who panicked and dumped their coins. We have to thank them for letting some of us hit our buy orders. ;)

Whales dont panic. They invested a lot of money and know the risk.
The real problem here is the small investors which combined could make a big dump. They must be pursued not to sell even if they are holding 1 bitcoin or 2. They must understand that it doesn't work like that and ETF wont even make so much difference. If not, we are doomed.

why not selling when price was 1300$ and we knew it will go near 1000$  ? 2 btc become 2.5...

Really? You think the small investors combined can result to a "big" dump? Look at the price now, all the small investors dumps have been eaten up by the market and hardly made a dent on the price. It is also the same small investors that helped get the price back to where it is now because they might have realized that selling is a mistake. It would have been better for them to do nothing but hold.

I'll buy 3 btc if the price of $1,000. I bet $1.000 will not happen in this March, they all look natural so it is difficult to think back down again to a price of $1,000. Now the price has reached $1.240 and trends from the morning I seen the prices always go up.

That could be right. I think the $1100 is the new bottom. The price will rise again from $1230 now.

the good thing about bitcoin is that no matter how many dump people, as OP calls them, exist in the market there are always going to be more experienced people who will take advantage of these dumb people and make money from them.
and in the end these dump people either leave bitcoin trading/investment or gain enough experience to see past the bullshit manipulation and see the bigger picture and not fall for any of them again.

This is what you should do. Instead of thinking of selling Bitcoin at $1300 and then buying back at $1000, why not find a source of income and then keep making buy orders at $1000 - $1100? You might think that your biy orders will not be hit, but it will sooner or later just like what we recently saw with the small dump.

The next dump will come when the PBOC decides to confiscate the Bitcoins of the Chinese exchanges.

Kind of amused that it dumped on fear or fake drops and then just went back to the normal pattern.
Fear can only impact the market so much now I guess or the real storm on the horizon is the blocksize debate.

the only good thing is that the number of bitcoin users who don't fall for the fear inducing dump and instead go for taking advantage of it, is growing as we move forward.
we all gain experience at some point and stop seeing it as fear and start accepting it as an opportunity to buy cheaper coins.

This means we do really learn as the days and years go by on bitcoin world specially on us wise holders of it and now we dont really much been affected on the etf rejection in fact we are waiting for the price to dip to buy more cheap coins and we saw the price eventually goes back up again and seems theres no event on etf at all.

I don't think if the price will increase again, but the block debate will give the another redcandle for the bitcoin itself. And a lot of the thread about bitcoin scaling and especially about the hardfork rumour for the bticoin .

You have no idea what you are talking about kid,if you stall something that has a limited supply and more people are interested to buy that thing then automatically the price of that object increases and that is the basics of economics and how a person holding is not contributing to the price rise.Learn how the thing works and then voice your opinion.