Bitcoin Forum

SEC Rejects 9 Bitcoin ETF Proposals thats a sad news today as on 23 August 2018 which was brutally rejected all 9 propasals of trading exchanges which we all hoping will be excepted but at last its rejected and btc will keep falling more down for sure !

what u think will btc will keep going down now cause of this news !

Ehh. I think the community became quite numb already on the ETF rejections and postponements. So I think the effect on market price would only be significantly smaller compared to the effect we had with the Winklevoss ETF(which was quite significant; assuming that the dip in price was mainly because of the Winklevoss ETF rejection).

Guess what though. Probably more ETFs would be denied/postponed!  :P

Hey there'll be no major effect on the prices, as the market had already discounted the possibility of the 9 etfs being rejected. We might just see minor fluctuations at the max, but that shall water down soon.

Also it's pertinent to note that, none of these etfs were famous or were even anticipated to be cleared. I have said it before, and will say it again it's the etf of Cboe that the market is expecting to be approved, let's wait for it. If you read the order there's not much negative news for Bitcoins, I felt there were positive news to, let's see how it goes.

It has been hours since the news about the rejection of the ETFs was out yet there is no considerable price movement for Bitcoin as of right now. This only means that either the hype on news about ETFs is over is the news about ETFs in the first place really don't have an effect on Bitcoin's prices at all. As to answer your question I don't think the news will be the one who will affect the prices of BTC now as its technicals still look bearish and it might just be coincidence if it goes down this time.

I think the community has been prepared for this rejection as this has not had a significant negative impact on the market. All we need do is to continue in carrying out our normal task as we have been doing. Rejection is not denial.

I personally think they will finally approve ETF's. This might be also a kind of manipulation from SEC. There are groups that want to hold BTC price as low as possible for some time now to load their bags.

Meh, I don't think that the traders are really caring up to this point knowing that the ETFs are bound to be rejected anyway. If traders really care about ETFs, there would be wonky price movements, but apparently it only remained stagnant and just did its usual thing whenever there isn't an important event on-going. The hype generated by ETFs are no longer affecting the bitcoin markets which I think is a pretty good thing, considering that a few rich people could be banking on these decisions and swaying the market's direction with ETF talks.

A whole nine in one day? This is  disappointment on those that have been expressing optimism about the ETFs and those that have hanged their fate on its approval. Times without number its being said and this is a reality the world financial sector is not ready and this is a further testimony to that. They are only buying time till whatever they are doing underground to gain control of the blockchain before moving forward with whether to accept or not. The companies even making the proposals are the ones putting powers in their hands because how on earth do they expect otherwise blockchain till this time cannot be control by anybody. Government approval means taking a way their power which is control away from their hands. How would I willingly let go of that control without a fight?

Its time for everyone to move on. Just like I had predicted when the price of bitcoin crashed because of ETF, I think now that it has happened, we should expect some discount in price as this news is expected to cause some panic when its eventually circulated thanks to the crypto media that will ensure it keeps going on and on till the community is ready to move on willingly.

The SEC clearly isn’t interested in taking proposals seriously. I predict each & every attempt will be rejected for now & the near future.

It’s time we stopped pinning our hopes on a Bitcoin ETF approval.

Yes, I know this is a lot of news about that, but I don't think it has a significant effect on market prices because prices remain stable. The most awaited ETF I think is on the CBOE which will be announced on 30 September 2018

The information is not good for the whole crypto market. Bitcoin price was affected immediately. I was expecting better information so Bitcoin could get up to 8k :'(

https://coinmarketcap.com/
BTC $6464     -1.47%

So far the influence is limited, as some colleagues have pointed out
I think the market has been tested for this news a lot
it is does not seem to respond much to the negative news
that's good.

SEC's decision on ETF is not the primary factor that affects the bitcoin price. Instead, it is the investors susceptibility that bitcoin would be useless without ETF. But, they didn't realize that even without ETF bitcoin will survive. These investors are just very skeptical about these. However, investors were apparently realizing the situation and go back to being positive with the market with or without ETF.

Who cares even market quite numb already! I thought we would see some upward movement until the 23th, but unfortunately Bitcoin ETF Proposals rejection today, followed by a rapid drop towards the 5.8k-6k support. I think it's enough to discuss rather we might just see forward.

I think it will not influence a lot. Of course it is unhappy for cryptocommunity but the main ETF proposal is not rejected (from CBOE) so we can still expect great news

I think the rejection of the ETF will change btc better, all traders are just waiting for clarity of all valid news, I agree btc can move freely

My hope and I believe will be the hope of many people. This will not affect the price of bitcoin and altcoin too much. For some reason, it seems that the SEC is very difficult to give permission to the bitcoin ETF

We can clearly see how imaginary is the bitcoin price actually. Because it is based on speculation and on events rather than on real adoption. We are still early in the game and if they don't want to allow ETF, that's fine. When windowless proposal was rejected I honestly haven't had much hope for this one. Eventually ETF is going to get approved but for that, more time needs to pass for the market to become more mature.

I guess if the price was about $7k and more, we would now see it comoing down to $6k something. The fact that the price is not going down means that bitcoin has reached its bottom. Bad news affect the price set previously by those hyping newbies. This price seems to be what most of community strongly believes in, so it just can't go down any further. As for etfs, this SEC thing is very conservative and stability-oriented. It doesn't want to get involved into things it doesn't fully comprehend and cannot take under control. I guess it's okay they don't accept bitcoin, because it's not meant to be traded anyway. It is meant to be used as money, not as stock.

 :D
https://www.youtube.com/watch?v=25SsCCCwmz8

I also think that this news are not news to the big investors.It was priced before the decision.I don't see bitcoin going down below 6k but what do I know.If it goes down than more for me.

From all indication it is like the cryptocurrency traders are mature towards reacting to some bad news concerning cryptocurrency nowadays. The community is getting stronger and immune against FUD.

IMO, this is a good thing because it will keep all those who are panicky and not having full faith in bitcoin. At this stage of development, we really need steadfast bitcoin followers, not those that are swayed by FUD.

I think, today the SEC only rejected two proposals from proshare, SolidX and VanEck. and of course, this is very bad information for crypto users.

and in September the SEC will make a decision for the Dirextion and GraniteShares.

I hope the SEC will take good respond in the next month.

The SEC is shaking the market through the ETF. It will be good if this ETF event is over.

the refusal is not based on an assessment of the practical significance or value of bitcoin and the technology of blockade in the broad sense

 :)

Most of the people has started to believe that SEC will not approve the ETF of bitcoin which will be announced in this coming month. Now, after the rejection of 9 proposals the price didn't change much still now. So we can consider that the price will not fall as much as we thought for rejecting the proposals.

Shaking? most likely that it was just a hyped by other investors and now that the overhype was gone it did not bother to influence the bitcoin price and now it is going back to $7k despite this all rejection to this ETF prove that all those people fomo are gone by now, I hope the price will stabilize to $7k then we can move forward to another leap of $8k slowly but surely till December.

It just seems like a type of manipulation by the SEC. There is this nasty game that the price of BTC are reduced on purpose and are made as low as possible to bag them as much as they could. But on another note, ETF might get approved.

Investors seem have matured regarding the series of ETF rejection. Their don't mind anymore if ETF will be rejected or will be approved. It seems they just want to move on and already accept the fact that ETF is not meant to be for now. As a result, bitcoin is gaining momentum and continues to increase in price.