Bitcoin Forum

https://www.sec.gov/rules/sro/batsbzx.htm

Yup just saw it on cnbc let the dump begin and if it goes low enought i might buy 1 bitcoin  ::)

The US government haven't found a way to make money from it. minor blip. Lets see how price reacts. holding up nicely so far.

It was a pretty obvious decision from a legal point of view.

This is why decentralization and unregulatably of the network is so important.
If the governments had a chance, they would attempt to "deny" Bitcoin to their citizens as well.

sell panic coming  ;D

I did not really expect the approval either. We will certainly see a fat dump now. The coverage in the media will also be huge, which should intensify the dump. After that, it is worthwhile to get back into it.

Just do not look at Bitcoin price chart for the next seven days.  ;)

holding up not too bad 1144 stamp

It ll go down to below $1000.

Lots of people still do not know the news.

Any back to $500  >:(

Kind of an expected outcome, but still sad  :-\. I wonder how far bitcoin and all major alts will dump before we start seeing signs of recovery...
EDIT: It dumped way less than I expected, which means many people expected this outcome I think.

Alts won't dump. Alts will go up cause lots of people sold to get into BTC in case it got rejected. Now they ll go back.

Still, awareness about crypto s the best gain of this. BTC ll go back in a month or two.

waiting for the drops to buy  8)

i hope so 8) 8) 8)

Alright China, time to open the markets so they can sell off too. I want to see a $200 BTC!!!

I could care less about the etf.  This reaction from the market is great,  though!  Buying opportunities abound,  gentlemen.   Think I'm going to see what the price is doing tomorrow and buy some more.

Rejected, so what?
I agree with Andreas:

Couldn't write it better.

Should make for a pretty interesting weekend.

It's great, I sold a high number of them at around 1250$ and a part when the price is 1190$.  :o
I will buy more bitcoins when the price will fall more.I hope one day the price will go back and return over 1500$. Now it's at 1100$ People can try to sell and re-buy later;)

These will be times of extreme volatility (and profit)  :)

How do you manipulate the bitcoin price? Let an ETF sell them electronically... selling them 200:1 reserve ratio. This is not bad news.

I'm not unhappy with that outcome, for two reasons.

First, I think Bitcoin is about decentralization and "anarchy", not about being a simple stock in a market. An ETF would have converted it into some kind of "official" speculation tool. I think a further growth on the speculation on the Bitcoin isn't important, it's more important to focus on an adoption in real-world usage.

And second, I think it wasn't the right moment for a FOMO rally like the one many predicted in the case of an ETF approval. Such a rally would have inevitably boosted transaction volume, and the bottlenecks because of the unsolved scaling discussion would have been much more visible. Media attention would have focused on the "limits" of Bitcoin, not on the potentials. And yes, I think Bitcoin's scalability problem can be solved - even without sacrificing the on-chain transactions paradigm (sidechains and altchains are the way to go for me, and LN for micropayments).

I want to buy some bitcoin, but coinbase is down for maitenance surprise surprise.  ::)

Well the exchanges are part of the problem - despite KNOWING that today would be a heavy trading day, they still weren't ready, which means the market isn't functioning properly because so many exchanges are down. Amateurs.

Nope, blockchain.info just showed $1080 from $1253 it has been all day long.

Funny thing is on Yobit ETH and DASH are going up to 0.0166btc and 0.045btc  from 0.0144btc and 0.040btc respectfully.

Just had a very unique experience. Was watching the gdax ticker and my bitcoin sitting at $1276 when things became an old cartoon. Do you remember when they showed the cash register and it was dropping so fast it became to hard for your eyes to make out the number? Well at $980 a $300 drop in about 1 minute that's what I just witnessed. That about of money in that amount of time wow. Best rollercoaster ride ever. Forget Six Flags. Hold tight!

Absolutely! This is great news. The bitcoin will have much more value without an etf.

SEC decision is probably a good thing.  The Winklevoss could not demonstrate that
they could secure the Bitcoins strongly enough.

Can you imagine what a disaster it would be if the ETF was approved and later
had to declare bankruptcy because they couldn't produce the Bitcoins when
a whale wanted them?  

That would be a scandal of epic proportions.

Yeah i'm totally agree with you, the time they open their markets it will be a big sell off too!!
Really i thought the ETF was going to be approved

There would be a cash alternative get out clause like Comex.

The price started dropping even before the announcement. Who still thinks there isn't information leak?

Everyone should be prepared for this, we had two possibilities. The price going up a lot with the approvation and the dump with disapprovation, now we just need to do the best with what we have, in this case the low Bitcoin price, time to buy BTCs and hold for the next events.

Indeed I can call this rejection a blessings in disguise for Bitcoin, though we can really see a dump from here.  Those who speculated Bitcoin will be approved and buy Bitcoin thinking it will rise in price is now selling because of the fear of losing. 


True, no regulation = wild fluctuation and there is no one limiting the price of BTC.  The best place for traders!


I do believe that regulation and Bitcoin does not go well.  This regulation is just contrasting Bitcoins definition of being decentralized.

The SEC does make some very valid points in their rejection without even considering the fact that the majority of the Bitcoin hashrate is behind the Great Firewall of China. Manipulation of Bitcoin prices on Chinese exchanges and the spread between XBT/CNY and XBT/USD could be considered a consequence of this. The concerns raised by the SEC here should also be of concern to those who believe BItcoin should exist outside of any government regulation.

Not really surprised about this turnout to be honest, definitely some insider trading though, assuming you start looking at the charts and seeing what was going on before the announcement was publicized, at least according to the sources I have.

Down the price goes, to the $900/$1,000 we know and expect. Kind of sucks, but whatever. Maybe one day in the future.

What low bitcoin price? Still looks pretty high to me..
Sure for a minute there if you were lucky enough to catch it..

earlier today i saw the price trade over 1250 dollars and after getting this rejection news i see the price is now below 1100 dollars...not good scenes at the moment
but whatever the case bitcoins will recover after this panic wave comes to pass.

I couldn't agree more. Bitcoin didn't need the ETF, it was the traders, who were looking for an opportunity to earn some easy money. It's never that easy.
The price started going up last year long before anyone heard about the ETF. I see no reason to lose confidence in good old hypecoin because of some failed project to make it a stock.

With the blocksize debate, miners controlling fees and becoming greedy. This is exactly what Bitcoin needs.
Like stated by the SEC, the market is still young and there is room in the future for a succesful ETF.

Luckily things will go back to normal and we can focus on the blocksize again.

Well, I expected it could go down to around $800-$900 per BTC1. It is a good chance coming again to buy at the dip, I'm pretty sure it will hit below $1000 today or tomorrow. Too many flaws and problems to solve in bitcoin community before it could go forward through SEC approval.

Everything unexpected has took place. The rejection of Etf has crashed the price movement downward. With the detailed description given the rejection price has fall below $1000 touching $975 from where it tumble to grow. Now seems to have a stable growth getting closer to $1100.

Coinbase is operating fine now.


True. But there's certainly an element of general fear of the unknown worked into this decision, that's not formally mentioned.

Someone mentioned the transaction volume issues, it hadn't occurred to me but this really could have been a problem if the ETF was approved.

very disappointing regarding this news..i thought that there will be good impact on bitcoin...Anyhow now it's altcoins turn..it will pump..so start trading in exchange markets

Well at least this confirms that we will not have more drama incoming for now.
At least in regards to the ETF will need to read that decision in detail

High it is of course, but lower than before haha.

Yesterday the price started dropping without reason, I believe it was because some investors already knew about the ETF rejection before all the rest, what means the information leaked, possibly...

And we can see, Btc just down now...
Wish is not big impact for rate bitcoin :'(

All of that just a dream, And i was predicting it. And i've spread if SEC will not approving etf, but too many the people do not realize about that. I just take my profit alone. All of that news is pure a dream starting from now.

Is this where the SUCK comes into play?
I hate when a plan doesn't come together.
All ready reported on major news media on cnbc's website.
This is the suck. :(

This is the truth and the most rational comment here. Traders who are panic selling are idiots or they just want to dump and rebuy later.
Think of our current situation as of forced decline which will lead to period of consolidation. You wanted to  buy cheaper coins? Now it is the time.

It's par for the course,Guys,don't care of this news!

time to move these many topics about ETF price drop speculation.. to the economics speculation category.
agreed?

Yes, all these topic fit better into speculation/economics category.

But since ETF case is now over (at least for now) we shouldn't see many of new threads popping out anyway.

ETF is a goner now, so there is nothing to discuss anymore, people will lose interest soon.

Not necessary. Maybe seems logical thing to expect that but the price is doing fine so far and I still beleive there will be no huge dump.
This decision was actualy expected and probably the market was prepared. But let's wai and see what happens in the next couple of days.

Well sure, it might be quite a hit for people who speculated on the approval of the etf but really it shouldn't affect the long term bitcoin direction at all. It is only a minor setback for bitcoin. Personally I  think there is absolutely no reason to worry about it.

Price is already recovering to $1000 plus, would be interested to see what happens next.

Big dump or stable price???

That's cool, the ETF for Bitcoin being rejected is nothing to be worried about because the price was already going up before that ETF was considered by the Winklevoss twins.

The price will dump though from what I see -the price will increase when there is more people getting into the coin and using it without the Governments consent. Bitcoin is already in Movies and on Mainstream media so how will they get rid of it? Lol

It's at $1,140.23 right now so the price isn't that bad.

I personally think that its a really good news for developing countries as ETF is rejected.

Already price of Bitcoin is high and if ETF get approved then it might be climb higher, which can be more tough to buy BTC or make deals in BTC for normal users.
Already more than 75% BTC are circulating in market. And as per economic speculation its may bring strong impact on price of Bitcoin.

But its a good move to bring BTC price down by rejecting ETF. And If whales start to dump then price of BTC may be reach below $500.

I already thought his etf will be rejected just a very small chance to get approved

There will be no serious price drop in Bitcoin. Bitcoin`s price was never determined by the SEC. So, the SEC`s decision will have little to no bearing on the price of Bitcoin. Personally, I`m happy that they did not approve it. Let`s keep Bitcoin de-centralized.

Before only I estimated that the ETF will reject the bitcoin, see things will be like this in the decentralized world. So don't panic and we have to move forward where the bitcoin price settles. Dumps and pumps are common in trading history, may be another door will open for bitcoin positivity.

It depends on how many people expected the price of Bitcoin to increase because of the SEC. There is a bunch of people that wanted to get another chance of the huge price increase that happened before 2013 and majority of them are into those scam MMM things and all they talk about is the price going from $0.01 to $1,000. So they bought in thinking that Bitcoin will be a safe haven thing.
If too many coins are dumped then there will be plenty of people panicking.

so its positive ETF is rejected? i think we need to get prepare for the bad situation because i see last night, the price is gets jump into high but after 15 minutes later, the price is back to normal but its down until now. the other scenario is bitcoin price is down into bottom but i don't know how much the price is down. i think the market is getting panic to see the price is down because i heard the price is reach $9xx, is it true? if its true, people who buy bitcoin in $9xx is the lucky one and now the sold it to make good profit.

We believe that Bitcoin is better off ETF in the long run. We do not want the government to interfere with Bitcoin.

Yes.

As for the price being $975.00 on Bitstamp, it's true. Some people sold at $975 and won't buy back in because the price is already at $1,139.00.

Hopefully those guys already sold the coin at $1,300 or so.

I don't think that the price of Bitcoin will drop that far down. Personally, I like that the price is going wild because the short-term price swings are really good for publicity and when the longterm price sets in then most people who was holding Bitcoin for a very longtime will be happy because they could cashout the coin and have enough coins left over to hold on to.

This is what I expected to be happened :)
SEC is under by the government agency of each country, they disapproves it because maybe they've found out that bitcoin can't be regulated and because of that things they can't get any profit on it if ever they approve it, that's why SEC realized that things.

I don't care about ETF and other similar (can someone say again who are they, and from where?). We talk so much about revolutionband half of people in this thread cries about some drop, so what? It's better price to drop, then to be slaves of some organizations, and to depend whether they will accept bitcoin or not.
Now it's ETF, tomorrow FBI, CIA,MMF, list of this 3 letters organizations is endless, Fuck them I say, let's discus here will we accept them? Did they disserved to be accepted?!

Yes, here is the link for the official SEC disapproval.
https://www.sec.gov/rules/sro/batsbzx/2017/34-80206.pdf

The market has taken this pretty well, given that today's drop from its peak also represents the certain failure of the SolidX ETF coming on or about March 30.

ETF rejection not going to affect bitcoin, even its long-term price... I was watching the price up/down... big whales were trying to take advantage of the speculators by creating the pump-dump waves... everything will back to normal now...

oh man i was wishing to wake up to a nice price rise this morning, but i woke up to an ETF rejected and price being the same as it was before. haha.
back to work everybody, useless ETF is no more.

Yes, this is the time we need to be calm. Even Some people speculate heavy down fall for bitcoin prices, I am not seeing anything possible for that. Just one or one of months back, people here started talking bitcoin ETF and its speculations.

But now they do talk like it was the only scope. We are definitely going to have more options to have better future and better promotions for bitcoins. Still, I can say the future is belongs to bitcoins. Stay strong.

Here is a good legal write up:

http://www.btclawtoday.com/star-crossed-failure-geminis-etf/

I admire Gemini for trying. Remember SolidX also has an ETF pending decision end of March.

I don't think it will go further down $1000. It will be stable for this price range 1100 - 1200

I'm expecting that I will have a very beautiful morning but it seems that we got an expected result for this. I thought the price is falling because many are starting to sell because the result was positive but I was wrong.


This is what I'm thinking and we'll see within the next days the price will pump so we don't have choice but to wait.

Price is down 15% from the high of $1350; considering the volatility after the denial not a bad day. Folks who had buy orders in at $1000 are in profit.

i think there will be many traders get dissapointed to see the price is getting down in a while, maybe they don't have a chance to sell their bitcoin in earlier and when the dumps is coming, they can not make profit. but i am positive thinking to see the price for now and i am sure that the price will reach new floor than before and yes in next weeks the price is have change to often so be careful when you want to trade bitcoin pair fiat.

The price is at $1147 at the moment, I hope it goes down so I can also buy a bitcoin.
Lets see, any idea how far down it can go?

Bananafund will perform better than the bitcoin etf ever could anyway.

Is it considered insider trading if a bunch of SEC folks just added BTC to their portfolio?

I would more probably consider it inside trading if they shorted hard on bitcoin yesterday :)
That said, inside trading is what markets are for, no ?  To incorporate information in the price...

We are not expecting ETF to be rejected, it seems that the  Government still can't see the advantage of bitcoin compare to fiat, but it doesn't mean that we need to panic about this and sell our bitcoin. Bitcoins price may fluctuate in low price but it is just for a while, and it will go up again in time, all we have to do is to wait.

Though, there will be a lot of bitcoin users that will sell or convert all of their bitcoins becuase of this event, and not a good decision to make, becuase we could lose huge profit from it if we are going to sell or convert our bitcoin in just one shot.

I don't expect ETF to be approved and I don't want it to be rejected but well we just need to accept this that government still sees bitcoin as not that profitable and legit. We can't blame those people that did panic selling, they are scared to see the price of bitcoin to drop that very rapid. Well see bitcoin to increase for the next days with the usual market.

LOL, I guess it will not be below $1,000 again, it will stay in that level and when people forget about the ETF rejection, the next thing will happen will be another price increase again. Yeah buy cheap bitcoin but don't wait too long before you will get caught by another increase again.

i hoped this ETC could pass because i believe it could have been good for bitcoin publicity and eventually adoption. but it doesn't matter now, we haven't lost anything we are back to the same bitcoin that has been rising 300% every year now.

I don't think you are right, I don't expect the EFT to be accepted, even the whole idea is wrong, is just like handing over Bitcoin to the government, it was rejected because the market was unregulated and this is what draws people to Bitcoin.

I already and many other bitcoin investor or users already predicted that ETF will not be launched nor approve.Like other said yes it has a very small chance of getting approved so this is the proof of it.

Well, when ETF rejected because they said that bitcoin is still too early, it makes little change in prices will be lower. I hope, it does not really give the effect of the price decrease. one day they would approve bitcoin.

still believing that they will accept it in near future as they see that there's a lots of people all over the world that really hoping this can be added so for sure they will forward for that and in due time they will accept the voice of many aspirant and supporters.

Well, saw this one coming. I'm hoping that it'll be accepted but with the volatility that it showed for the past weeks, there's no way that SEC will approve it. Also, the government can't still find the solution to control it in a way that they can do anything they want to BTC. The end result is the denial of ETF. Expect more volatility regarding BTC's price in the coming days. And ready your money to buy some cheap bitcoins. Its a great time to make some profit out of this chaos.

It is not late for the SEC to study the bitcoin well because i think they just need more time in doing research and doing study about bitcoin before they approve it because the bitcoin is too young for them to trust and they need more proofs that bitcoin is not that easy to defeat kind of thing so we should not be disappointed for thins kind of rejection. In my opinion ;D.

Pretty true about US government, LOL

Picture a angry kid, I want my FAIR share. Sorry USA, bitcoin is the only fair currency.

I think the same thing too and this rejection just only make the price go down but not even lowering to $1k pricepoint which do really indicate that bitcoin does really have a good support and cant be easily dumped just like what happened before on previous years when theres a hard dump it almost goes back to the bottom.

The govt of china has also ordered the control of withdrawal of bitcoin, and the suspension of withdrawal is with further notice. There might be no trade from Chinese exchange soon

I don't think anyone thought that ETF will be approved but I don't think we are in the middle of a panic selling, it is understandable the price is going to suffer but we are not going to see a complete dump of bitcoin.

If they rejected bitcoin for the first time it would be considered as final decision since they already saw what does bitcoin have and its capabilities and disadvantages thats why they reject it and accepting it on future would be really hard,yet we should not lose hopes and one day they would able to realize.

yes, That is bad news for bitcoin and it's leading to decrease the price in next days. I predict it could be down under 1,000$ .However we can buy bitcoin with cheap price .

what i heard is not that, they said basically that exchange are not ready because they are not well regulated to protect money of citizen corretly, if they want to use them

for this reeason they refused the acceptance of bitcoin, i always said that for the government it's all about regulation, without that nothing will be done, bitcoin need to be regulated like fiat if we want worldwide adoption

its good news for bitcoin .... let bitcoin be bitcoin and have nothing to do with the stock ex...

That is correct. I can know XRP coins to be traded as ETF but it's down all times. I want bitcoin to be just a bitcoin .

And the price dropped for a while there. It even hit below 1000$. But it recovered quickly. Lucky are those who have buy orders on that level, they have instant 100$ + profit in less than a day. At least that is all to it with ETF, no Bitcoin crash. I guess it will be a while before we can see an ETF getting approved be SEC.

Well thats something to be expected. Its not a shocking news and thats not something to cause the holders to worry and panic. Even with the disapproval of ETF the price of bitcoin remains the same and if there are changes it is not significant. This just displays that bitcoin holders does not really care or affected too much by the approval or disapproval of ETF.

This is not really surprising at all. Ninety nine per cent of Bitcoin users would have known this was bound to happen. Why in the world would SEC allow this. I am glad this news is finally out and people can move on from this to a bigger picture. As far the price is concerned I really don't think it should be effected at all. Maybe some users will put up posts about how bad it is, and how they will see Bitcoin going down. I don't think so, the global economy is yet not stable. And I really don't see why there any need to worry. I feel other events will influence the price, time to finally move on.

Most of us expect it to be disapproved anyway. Even the price drop did not last that long, unless there is a second wave of dump coming. I think we will stay at the current price level for a while.

Still have the Chinese exchanges that will open soon, that will cause a dump. Plus the people that didn't see the news. It could lead to another large dip. Let's hope it's larger than this tiny one.

I knew it would be rejected. It seems to price sank a bit, but still resists as for now. Let's hope it does not go too deep or we might disturb the good equilibria we built lately.

In some ways Bitcoin always positioned itself as an alternative to stock markets and classical bankerism. I am slightly irritated about the hopes hinged onto an ETF.

the equilibrium must be disturbed so that we can move on forward. if it remains the same stable price and fixed, then there will never be any rises. many are trading bitcoin and working with this exact fluctuations to make money.
in the long term, there is a perfect trend which you can also call equilibrium. and don't forget that supply and demand is constantly changing (in case of bitcoin the demand is rising) so the prices change.

Although, the most cryptocurrency news sites last days had estimated that the acceptance probability was tiny I had at least the hope that SEC would not decide and could find a good reason to delay again. I read that there are two other similar assets waiting their turn but I feel they will fail. The worst point of all this process are the reasons SEC put forward to reject the ETF. Surveillance agreements with significant markets and regulation. SEC knows that both of them will not be satisfied so an ETF will not ever reach the approval in the future.

Expected outcome so no dissapoinment here. The price was dropping but already climbing back to ~$1.180. Good thing that i already set the buy order and got some easy profit.

Even after 5+ hours, the price is still $1,180+ so we can safely say that predictions were mere a hype and didn't affect the bitcoin on the price chart. I was expecting it to fall to the levels of $1,000 in the case of disapproval but there are no such signs. It seems that bears won't have any opportunity in this case at the moment to make profits.

The price yesterday at this time was exactly at $1180 levels. 24 hours seems to have made no difference to the price.
The ETF rejection seems to have been shrugged off by the markets.  :)

Well, we haven't yet seen any big crashes in the price of bitcoin. But we need to see how long bitcoin can hold on to the current price levels. It would be nice if it can find support and stay well above $1000 level in the coming weeks.

i say good riddance, if ETF was approved we would have seen a big rise and price may have even entered a bubble and we all know bubbles pop and we would have seen a long period of downtime when price goes down and stays down.

at least now we saw the dump and now we can get back to slow rise as always and that is the only way price rises and stays up.
we can easily expect $1900 by the end of year.

Such a bad news . Now the prices will fall and now more people might be selling their bitcoins.
And when the prices fall down , which is going to happen soon , more and more people will buy bitcoins.
So now let's wait for the prices to fall and after certain months it will rise again.

why would it fall? There is no reason for it to. It fell a little after decision but is back up.

Doesn't allowing this ETF bring the typical heavily leveraged margin accounts to manipulate the price of BTC? Thus the price of BTC would be forced into potential wild swings higher or lower. Especially if attempts are made to manipulate price movements for option plays that would inevitably follow an ETF.

Unless this is a unique ETF that only allowed one to one ratios without margin? I saw a bitcoin ETF as a potentially nice boost to the price of bitcoin that would easily be followed by manipulated shorts just like what happens with silver (and gold but not as heavily so).

AKA sell ITM calls, buy huge volumes OTM puts, short the ETF like crazy with market orders signalling algorithm trading shorts, buy back calls/sell puts for profit, cover your shorts at a loss, BTC long at a reduced pricing from your manipulation pushing others to short beyond your shorts, watch it rise, sell your BTC at higher profits.

Repeat. Typical ETF manipulation. Plus ETF algorithms are going to be playing the game.

Why would the bitcoin community actually want this mainstreaming to bitcoin which inevitably leads to manipulation?

It's already fall and start last day when it's already announced that ETF denied .but it's now back and continued to rise again .

Would it be nice to have an ETF? Sure, but the disapproval isn't bad news at all. Bitcoin will continue to grow regardless of whatever ETF. It has done so previously, and will continue to do so as the increasing demand is the most important aspect. It got hyped up, which is basically is a normal thing when something is about to happen. Bitter pill has been swallowed, and now we can move further. It was an over-exaggerated dump.

I thought it will be approved by SEC but im wrong. Now that the ETF was not approved by SEC. I see small dump. I dont see that the rejection on ETF is massive. We fall only $100 and thats not really huge. Thats how strong bitcoin is. People cannot be fooled easily. They're getting matured now.

I don't have much money but I have some saved that I'd use to buy should a dump really happen. Heck, if it even go really down, I might even consider borrowing money. Though I probably don't see a huge crash coming. The prospect of it failing didn't seem to really cause much of a big drop so it seem people are more confident of bitcoin now. Still, there will be some price decrease from dumpers fleeing at the first sign of a fall. Let's just all enjoy the ride.

There's going to be more bitcoin etf(s), so what if the first one was disapproved. the next one might be approved, march 30th is when we'll know the fate of second etf.
do we even need etf? bitcoin price will rise without etf(s). ::)

ETFs are obsolete. Buy your own bitcoins, don't talk to a banker about how you're going to buy your bitcoins through him. Pay them their commission and regulatory fees etc. Screw all of that, why wouldn't I just put everything into a paper wallet and store it in a safe (or maybe even a very useful sated deposit box in a bank ;)).

With this bitcoin ETF got rejected, it's just show how bitcoin price was succesfully maintained it's stability at around $1,000. Good thing this rejection happend resulting to a price crash because we are all waiting for the correction price. Current price rate is still not the correction price but I can considered it now because of the behaviour of the movement that was presently be seen.

No more FUD or big news that can bring the bitcoin price. Journey to the moon is not easy to take down again. For those other traders, try to risk some money at the current price rate because we might see the new bottom at the phase of 4 digits.

I agree totally

It's was hardly any dump, I was expecting BTC to drop in the 900 range but it didn't even go below 1100. People really didn't care about ETF.

Same here, though I am just trying to be positive on this that is why I thought that they are going to approved it, looks like we are wrong, and the DUMP has already started yesterday. Bitcoins price is fluctuating lower and will fluctuate higher and then lower again. I am sure that its price would be stable at $1100 and will take its time until it goes up again.

I  think the most fundamental reason is that the government can not profit from it, so they did not accept it. That's a pretty clear view from its legal level. And believe me, they will refuse bitcoin if they can do that, however, the citizens do not agree, so they are forced to let bitcoin operate. It is obvious and obvious. This is something I did not expect, but for me, it did not have too much influence, so I gladly accepted it.

This ETF isn't meant for the averag Bitcoiner. It's purely a tool that would help attract professional captial to be invested in Bitcoin. That's the sole reason the WV twins came up with this.

Institutions aren't interested in buying Bitcoin directly from whatever incapable exchange. For them the main point of importance is that when they do plan allocate 1-2% of their portfolio in Bitcoin, that it happens in circumstances where the SEC is guarding the market.

That proves that the price of bitcoin is not dependent upon one single news and even i was surprised because when there was a news coming out of China we could see a dip in price and this time around we heard a news from China that the restrictions with bitcoin will continue and the ETF is rejected and still the price only declined by $100 which really surprised me .

I notice that also that there is only a slight decline. There are expectations that it will reach $800 dollars dip after the SEC disapproval, but it did not happen. It only means that bitcoin is still stronger and still not dipping below $1000 dollar mark.

I was also ready for a big price cut. I prepared to buy bitcoins. But I did not have time to buy them, because the price rebounded very quickly. While I was sleeping, she almost returned to the mark of 1100 dollars. This suggests that bitcoin is very stable

I don't think it's possible for US news to change the price by much because most of the Chinese speculators that are controlling the price right now don't speak or read engrish.

The truth is that a little surprising that the price remains so high after the news.

With the SEC reasons behind disapproval of winklevos etf, there will be no Bitcoin ETF that will be approved unless you change the very nature of bitcoin. Bitcoin will remain unregulated and any attempt for an ETF will remain to be disapproved.

Good news. BTC was never intended to partner with the SEC, the Federal Reserve nor any official institution. BTC was built from scratch, without any input from Wall Street. Let's keep it that way.

Is there a thing about the next hype of bitcoin by SEC? Greyscale and SolidX? So from now, the bitcoin ETF is nothing to say. But I just realize if there will the next hype with SEC again.  ::)

Like that "meme" said, Bitcoin users not affected, lol. Plus, market didn't really care.

The ETF was rejected and yet the Bitcoin train keeps chugging along. The only thing that seems to have come out of it all was that some traders made some money, weak hands panic sold and we all witnessed the resiliency of the price of bitcoin in that it doesn't hinge on any kind of ETF approval or rejection. Although it would have been interesting to see how the price would have reacted to an ETF approval. But at the least, we know what happens to the price with an ETF build up and subsequent rejection.  :)  Then again, it still maybe too early to make conclusions regarding this rejection as it concerns price.

Where are you guys waiting for $200 or $500? is bitcoin supposed to be in hands of peers and transferred by peers or by ETF approved companies?
Another well performed tactic from bitcoin and yet another proof of it being manipulation/speculation free.

Just checked the price and it was a WOW moment for me. Great that the price had held its own, I feel bitcoin is stronger than ever now and is getting strong too. Stability will make many more people invest in bitcoin which means the price is going to go higher.

ETF was rejected, because the development of bitcoin opaque, opaque means there are bound to be a lot of threats, in exchange for the interests of their investors. ETF does not pass is also normal. They are two different worlds, do not need to force.

Of course the price wasn't effected. Currently the Bitcoin price is almost solely and completely controlled by the Chinese. Why would the Chinese care at all about the approval or disapproval of an American exchange traded fund?

I think everyone have made their trading decision before the decision where made, the shorter were taking out of their positions  prior to the anouncement by pumping the price above $1300, and some people know that this is a good entry point if the price dump below $1000, in the end Bitcoin wins

The argument was that the opacity of Bitcoins is not clean enough for an ETF
The EU wants to track the transactions to monitor Bitcoin
Probably a co-related factor.
http://www.coindesk.com/eu-draft-law-plan-monitor-bitcoin/


http://www.marketwatch.com/story/dont-bet-on-a-bitcoin-etf-happening-soon-analysts-say-2017-03-13
Not that it matters the market has said if we have to do that whole monitoring thing why bother lets just keep moving as is and let the regulations catch up to us, or move to opaque alt-coins.

Well save the politics and find us the right solution. I'm neither for nor against but just looking for the right solutions to make Bitcoin better.

This was a very bad event.
As it led to the prices of bitcoins fall drastically which we can see now.
Now more and more people will tend to purchase bitcoins as an investment.
And after some time the prices will rise again.