Bitcoin Forum

Hi guys, why this extreme pump when there is only a 25-30 % chance of ETF aproval? Nobody wants to miss the moonrocket i guess? But lots of people are getting burned in march if you ask me. Perhaps all those new investors from Africa, India, Russia, Japan etc dont care about ETF at all?

ETF being approved is not that relevant. Bitcoin is going up because greedy bankers and politicians are waging a war against cash and attempting to force negative interest rates on numerous countries around the world. Its going up because people are buying it as a store of value. It is going up because for the last few months the supply has been only half what it used to be.

Bitcoin will go to the moon regardless of ETF and probably better without it. 

Extreme pump??

We have been at this price level 4 years ago!!

We have been trying to go break this level and failed twice, once in Dec and another time in Jan... what extreme pump are you talking about? This is fucking bitcoin, "extreme pump" is not the correct word

6% increase in 24 hours is quite extreme  ;)

Dude this is bitcoin

I'll say it again, despite all the chatter about an ETF pump, the ETF is small fry compared to bigger market forces at work. Bitcoin doesn't care about an ETF

Actually always market needs some good news to boost the price of Bitcoin and the same is when market is reacting on the ETF news but actually when they will knew that ETF is not a big deal then it will react in selling of bitcoins and like this the price will start decline. So it is always that any good or bad news needed to move the price of bitcoin and the traders use it to fluctuate the price.

I do...


Seems like we need help to break that damn $1200 barrier

Who knows what the odds are? The only people who know aren't going to let anything slip. Everyone else is in the dark.

There's a good chance there'll be a fall in case of a no, but at the same time there are ever swelling volumes in places where an ETF will be of absolutely no interest or use whatsoever.

sounds like the only explanation is that many (or a few doing a lot of buying) have definite knowledge of the ETF being approved.   Why does no one seem to think that there could be many folks who have access to the "insiders" that have leaked some information.   This is not a typical SEC decision where the outcome allows one to make a few percent depending on the outcome.  

This is an historic decision where anyone who could know of a "definite" approval could make a once-in-a-few-lifetimes type increase overnight.

What insider would NOT give a gift to a couple of their loved ones?   Next thing you know there are a few hundred folks that maybe turn into a few thousand that know of a "definite" approval and are out buying BTC.

just one theory.

Well if this is all about the ETF (which I still doubt) maybe its a case of 'Buy the rumour sell the news'

It's always been sell the news.

Winklevoss ETF june 2016:

After spending two years trying to get listed on Nasdaq, the effort picked up momentum in June when the Winklevoss brothers filed to move their application to the BATS exchange. Within two weeks of that change, SEC assistant secretary Jill Peterson opened a comment period as part of the approval process.

BTC price June 2016 : 478 EUR -> 668,57 EUR -> pump ->ETF related?

Winklevoss ETF  12 october 2016:

BTC price oktober 2016 : 556,14 EUR -> 538,29 EUR -> just before the big bull trend -> nothing really happens on this ETF date.

the actual first deadline is 28th August 2016:

BTC price August 28th 2016 : 515,16 EUR -> 555,10 EUR -> no extreme corrections because of the delay.

And now they expect an extreme increase to 1645 dollar or an correction to 551 dollar  :D , according to Spencer Bogart from Needham & Company ( cointelegraph )

I guess only time will tell.

http://www.coindesk.com/bitcoin-etf-anticipation-winklevoss-trust-deadline/

Interesting what you said there, I thought about it and yes there is a good chance you are right. Bitcoin IS getting more attention, and not negative from what we used to know.

Although I do think the price will get a mini crash when the ETH fails, regardless of that this year a new ATH will be realised. Be it march or december> At this moment I am buying and holding for at least 2020.
From there we will see what more to gain is.

IF ETF , SEC and china regulation positive response about bitcoin
i think bitcoin price can incraese very high, maybe in march bitcoin price can incraese to 1300 dollar/bitcoin

Do we even want the ETF to pass?

https://bitcoinmagazine.com/articles/how-latest-coin-etf-amendment-could-hurt-its-investors-and-perhaps-harm-bitcoin-too/

Well seems some dilemma in there but we could not know it until it happen.  I still want ETF to pass, and it is up to the developer on how they implement this ammendment without forking Bitcoin.  Anyway ETF is sure a big hype that produce a pump to bitcoin price.  I just hope this will not create a bubble.

Kids Say the Darndest Things these days.
calling a teeny tiny rise an "extreme pump" as if it is their first day on bitcoin and seeing price charts :)

here let me help you see some history my friend
https://bitcoincharts.com/charts/bitstampUSD#tgSzm1g10zm2g25zv

in short, anything smaller than $100 rise is not considered "extreme" and anything less than $500 rise is not considered pump.

Actually i dont think there is a big ETF pump, if there was the price should broke ATH big. There is a rise and people expect the ETF decision, but i dont think the market sees aproval, thats just my opinion.

At this point, a bubble seems likely with all the ETF hype. However, the ETF overall would still be a good influence on bitcoin because it would increase awareness regardless of whether it's approved or not.

I think you edit-answered your own question!
ETF is only happening in one place and people from lots of countries are investing in bitcoin. and you missed China for some reason. they have been investing in bitcoin even though their exchanges are closed for the time being. check out localbitcoins in China volume.

in my opinion, ETF is mostly hyped up. and it can lead to a rise eventually but this is not it. the current rise is too small to be the result of a hyped up event.
if you want to see an "extreme pump" see the 2013 rise which was a real pump. or a most recent one (if you can call it pump) during the halving in last year.
this here is a rally with a good buy support behind it.

The bubble will come after the ETF approval, not before.

i guess everyone is shorting thinking that bitcoin can' hold this point, and will return back to under $1000 value shortly, the definition of extreme pump here should represent $2k in value at the very least

also chinese can't even recognize ETF and i don't think they care neither japan, therefore the current trend is not because of that like the thread started believe

I'm worried about the dump after ETF disapproval   :-X

I honestly don't see anything extreme here , I see an increase with stability and since the chances are low , I doubt It will get approved. If we assume that the price is increasing due to ETF as you mentioned then we should expect a big dump once It gets disapproved in a couple of weeks and that's definitely not something good.

Well I could be wrong but I think that after the official rejection we won't go that low as many may expect.
800-900 is the range which should be the lowest imo.
Furthermore I don't think it will be down for long.
So if you should have some spare money left this could be an opportunity to get some more BTC.
I will definitely have an eye on the development after the SEC decision.

Well, you can't blame people for connecting current increase with what in potential could be an approved Bitcoin ETF.

I personally think it's a combination of the ETF and the continuation of the rally that took a break where it resulted in the price to fall deep below the $800 mark after the peak to +$1100.

At the end of the day, this is all pure speculation. We'll see how important the role of the ETF really is in this rush once it doesn't get approved.

If the market doesn't show any signs of disappointment, then it's clear that it didn't had anything to do with the current rush to a possibly new all time high. There are just over 2 weeks to go.

Agree. ETF has nothing to do with the current price rise. It is a pure speculation pump fuelled by the sentiment change on how US economy under Trump will do.
Enjoy the wave while it lasts, but make sure you jump out before it starts dropping.

How do we know that the chances are low for the ETF? Is there some way for us to know how likely it is to be approved? It would be good to know so we can plan our trading strategies accordingly.

i expect an 100-150 $ decrease if ETF Winklevos is denied. And this is quite an contradict in this bull trend. So if it really happens it would be a good buying opportunity.

Everything that goes up, must go down. Welcome to laws of physics, we don't need anyone to tell us that.

The problem is: WHEN. We are at $1160 again, bitstamp price, , actually, its going up as I write is, oh fuck, wait, its... ITS GOING TO BREAK THE ATH!!!!!
$1162 has been hit as I write this comment, I hope i can finish this comment before it keeps going up, since we are only 1 dollar away from hitting the 2013 ATH, 1 DOLLAR!. OH SHIT. $1162.42!! can I finish this message before it goes higher? DAMN. $1162.46 NOW. $1163. OH MY GOD. NOW ONLY 1 CENT BEFORE WE HIT ATH. $1163 UNBELIEVABLE. WE ARE GOING TO CROSS IT ANYTIME SOON.

OH GOD, LOOK AT THE GRAPH, ALL TIME HIGH! $1164! WE DID IT BEFORE I FINISHED THE MESSAGE!!!!!!!!

https://bitcoinwisdom.com/markets/bitstamp/btcusd

WE DID IT!!!!!!

Even after today's 5% drop, the price is still higher than $1200.

Not for long it seems ETF will be the game changer.

In yobit they are showing that it has breaked the $1200 range and went till $1198.45 and then it bounced back and now trading in the range of 1230 to 1240. so it just got small profit booking and we an see more dump if on march 11 the ETF approval is approved or not.

Im torn personally if im reasy for it to pass but i wont be mad either way

Like what i am saysing for weeks, prepair for more dumps. Call me a bear , a newbie , or ' you must be new here'. In fact i am not, we will see decline till ETF deadline. So that means 4 days decline. See you at 1000 EUR.