Bitcoin Forum

Does anyone have any thoughts on the SEC decision coming up on the 2nd of August and how it would affect the price of bitcoin?

i think it is possible that most investors believe that SEC is going to reject ETF this time too because if you look at the price it has not moved at all. it is still in the same price level as it was before. otherwise if they thought SEC is going to approve it this time then they should have started buying bitcoin and price would have gone up. and lets not forget that this is not the first time either.

if my assumption is correct then if SEC actually rejects it this time too, then price shouldn't be affected at all because the market already expected it and never went up to come down now.
but if they do approve it, that will come as a shock to the whole market and we may see a huge FOMO buying action within hours and price can shoot up to $9k$-10k before the day ends.

I think the SEC will approve this on condition that local regulated exchange prices would be used as a guideline for trading. One of the main gripes that they had was the global manipulation of the Bitcoin price, by unregulated exchanges. A lot of these countries have made significant inroads into fixing these problems and regulating these exchanges. <South Korea>

So, I think it might be a better outcome this time around. ^smile^

The effect is solely on the value, if the outcome is good we are going to see good uptrend from this current price and if not then the dip is yet to come. But am very positive the outcome of the meeting, I want to believe that the meeting is on regulation.

bitcoin will go above it's Ath is my prediction. I buy bitcoin before august and hold it until moon.

Bitcoin price will be increased as last year if i am not wrong... Peolple are always fomo buying when they hear some good news :))) wating for the huge fomo :D

It's still up in the air if the SEC's decision will be in favour of BTC but if it is, well then, I believe we in for another bull run of destiny!

*dusts off moon boots*

Be sure to fill your bags before August 2nd ;)
I really think a bullrun will start on that day.

I just hope the decision is favourable to the crypto currency market sphere, unfavourable decision will cause panic for people to sell which will force price down.

I personally think BTC can't crash more than 5k at the moment, also with a bad news.

The news should just spark the price of bitcoin, the bear market is just too long and we all need it recover to normal.

You mean August 10th?

https://cryptovest.com/news/possible-bitcoin-etf-raises-market-hopes-as-us-sec-opens-public-discussion-for-cboe-fund-license/

I'm not sure how the decision will turn out, but it's worth noting that ETFs were (kinda) already launched in Europe and it doesn't seem to have had any significant effect on prices. I expect a SEC approval to have a bigger effect, but I feel like there's a strong possibility that it can't bring us over the bear market hump. I'd love to be proven wrong though.

As regards this decision, if SEC approves it, their would definitely be a spike in bitcoin price and that may mark the start of the bull market. I believe that Sec would approve the ETF

i think its good to expect the worst first.since we know sec dont like crypto so much.and if they suddenly change their mind and accept ETF,its gonna be suprice for us.so even they reject again,its mean nothing for us.from what i see,market doesnt care with sec regulation anymore.

The SEC is actually pretty bullish on bitcoin, relatively speaking anyhow, so I don't see them turning on it for little to no reason. but who really knows right?

SEC decision will be a turn up point for bitcoin. We saw in past all attempts taken by different different personalities to pass ETF in SEC got failed. But this time its a game changer. Application is too strong where SEC will have to go through it very thoroughly before rejecting just like in past incidences. And this time whole world is waiting for SEC decision to decide what will happen to bitcoin in future.

I don't see any reason to see the SEC approving it. They rejected it before and nothing changed since. If the price is supposed to increase before the decision it will be perhaps 10 days before. But if it is rejected I can easily smell the Bitcoin' price going down, under $6000...
If it is accepted it won't have much results on the price. Sure the price may go up for some days, but it will surely go back to what is was before. The craez will stay perhaps 2 weeks, no more

It is 10th August, not 2nd August ;)


So it needs to increase with $14,000 Good luck to see it happen within 2-3 weeks only

i disagree. when something is not that big to cause a rise in bitcoin it can not cause a drop that big either. additionally you are forgetting about how strong the buy support has been at $6000 which by the way has been tested many times in the past 7 months and it could not be broken. this time is no different than all those past tries.

I don't think an ETF will get done this year 2018 or next year 2019. It just is not possible for the political reasons below.

It would require a 'bureaucratic institution" to 'stamp' BTC as 'legit money', so to speak.

With the current dysfunction in D.C., how would they even make that determination without feedback from the Trump Administration?

So with NO clarity of intent of any kind, this will continue 'forever'. It is the safe bet to 'deny' it is a risk to the SEC's reputation to

confirm, even if the confirmation would only result in the current administration chastising them, why take the risk. Group Think at its best.

It seems a lot and I mean a lot more adoption and acceptance will have to happen first, I just don't see this happening this year

or next year. Sad to say. :(

link to the descent:

https://www.sec.gov/news/public-statement/peirce-dissent-34-83723 (https://www.sec.gov/news/public-statement/peirce-dissent-34-83723)

The fact is that the SEC rejected Bitcoin as an ETF.
And that makes all Cryptocurrency drop in price.

I am sorry for all of it because I am also stuck in high prices.