Bitcoin Forum

Do you think people will panic about SEC denying SolidX as they did after the Winklewoss denial? It wouldn't make any sence in terms of logic, but we all know, that some people get scared quickly. I'm waiting to make my first bigger bitcoin investment, but I missed the "expected" dump in price after the recent SEC denial (money tranfer took too long). So do you believe we can expect another fall of bitcoin price in the next days/weeks? I'm not counting on hard-fork, because I don't actually believe it will happen.

Nobody knows...

Take into account the fact that Winklevoss twins are world famous celebrities, that's what caused massive expectation.

Now those guys, nobody knows who they are, and we all know it will fall. Maybe nothing will happen and people that sell get trolled holding fiat as BTC keeps rising.

I doubt it. We already saw that a ETF is unlikely and so its portrait by the mainstream media.  The Winklevoss ETF was extremely hyped and some idiots even said uhh 75% chance of aproval cuz moon and magic twins. Now we are all quite realistic and negative about SolidX what is a good thing. I Expect that Bitcoin will not give any f*cks about the whole SolidX ETF. Excuse my language. Bad habit  ::) when its aproved because of some miracle it wont be only a chance for BTC to go to the moon but also a big joke towards those failing twins who put 4 years of effort in their ETF. I would smirk a bit if that happens. The Winklevoss twins probobly will claim that ETF was their idea and that it was stolen from them just like Facebook :D

In case you don't know there are two ETFs in play currently, there is Solid X and Grayscale.
Coin ETF was denied and I think that those are dead in the water as well, since they share the same problem - inability to fully take control over bitcoin.
At this point we are safe, there won't be disappointment after Solid X denial - so price should not decline.

maybe a little bit.

I don't see any btc ETFs in the future. Many of the reasons for denial are inherent to crypto

I don't think the SolidX denial will affect the price of bitcoin. Afterall, their is more hype on the W-twins ETF application and subsequent denial, but the price of bitcoin was not affected. And a lot of bitcoin investor are anticipating that the SolidX ETF will be denied anyway. Right now the price of bitcoin is recovering and this SolidX ETF will be a non factor for the price of bitcoin.

So you think it is unlikely anything will negatively inpact bitcoin price in the near future, except possible hard-fork? I understand this is a little bit of a "divination". (Now I am really mad at my bank for postponing my money transfer. I was so ready to buy while BTC was at 950$)

No. It's nearly fully certain that the SolidX ETF will be rejected. If you purely look at the effect on the community, then this ETF doesn't account for even 5% of all the hype around the Winklevoss ETF. That's either because people don't believe it will be approved, or they simply don't know about it. In case of the latter, it's also due to the crypto news sites as they don't write that many articles regarding this ETF. But I think it's a good thing -- no hype means no potential dump.

There is no Buzz for solidx ETF so don't expect similar market movement even if SEC rejects their proposal. Most important thing right now is possible hard fork, it will be interesting to watch all the drama that will bring.

No. The big decision was the Winklevoss one and it applies to everything that'll come soon after. Had it been a nit picking rejection on a couple of details then the heat would still be on, but it isn't because it was down to the market at large which no one can change for now.

Anyone paying attention will know that that's put the cap on any other possible outcome for several years hence.

The only circumstance where there would be a panic is if it was approved and the panic would be upwards. I'd wager more on pigs taking to the skies.

The SEC's decision regarding COIN ETF paved the way with the rejection for all other coming attempts to launch an ETF.
As long as Bitcoin can't be regulated, as the SEC explained it, I'm pretty sure no ETF will be approved!
Therefore the next rejection will have no real impact on the price.

enough people will use the news as a reason to sell. it's reasonable to expect that profit-taking or buying pressure will be lowered in the short term.

Its all in your hands. If you all want to create a dip then create it. It wont happen because people already bought and sold a couple days ago. Novody wants to risk everything again. So no ETF related dip expected.

You really cannot predict ,since the price has recovered by now i am not sure whether the price would bomb with the rejection of Solid X because everyone knows the possibility of an approval is really slim and hence i am not sure about what the price would be but i would like to see the price increase from now on as i did have the time when the price was low and let me have some profit now. ;D

yeah, sure, why not :D
but only if you can hype it up enough!

what the news is, is not important at all. it can be someone sneezing in the north pole! all that matters is how people take that news. you keep saying ETF, FORK, China, Hack, M.Hearn, and all kinds of weird things that most of the times have nothing to do with bitcoin. and then people start believing it is the end of the world and whales do a little dump on top and weak hands unload :) then they start buying the cheap coins and back up we go!

You guys still don't get it, please can you name one thing that is scarce that doesn't have value? There are only ever going to be 21m bitcoin.If you really think that we will ever return to a new fiat currency backed by gold once all the trust has been broken you have another thing coming. That saying "fool me once..." comes to mind.

As a technology professional, this is the most unbelievable technical inventions of my life time. It is an asset based currency not a debt based currency.If you really think that the world is going to go backwards and we are going to shop online with silver coins that just ludicrous.There is waaaay more more risk of your gold being confiscated than your bitcoins.

it is like saying Greece people (Greeks?) are buying bitcoin so price will go to the moon because when we said Chinese are buying it went up. :D
they are both irrelevant to the price and one of them was a big irrelevant news and the other is a small irrelevant news.

in reality the adoption is rising over time and since the supply is always going to be limited the price rises. the short term fluctuations are just traders playing around ;)

We talk about SolidX because of Winklevoss denial. The twins' ETF was known for a long time, while this one has no chance of getting accepted. This is less greater exceptations put in it. There is few reasons to get anxious about a price fall.

One think should be observed, if Solidx ETF creates a huge pump in Bitcoin market then the rejection will definitely make the price go down.  Else if it turns out to be a normal news, I think the rejection will not make much damage to Bitcoin market.  Price might probably go down a bit but I think it will  recover fast.