Bitcoin Forum

So it's finally here. SEC rejects most of the ETF applications. So what do you advise I do. Keep holding or sell off? I'm in a dilemma at the moment

I did not understand your question. Are you storing Bitcoin and ask if you want to sell it? If this bitcoin, then of course my answer is: "Yes, it must be stored! Because bitcoin is the strongest cryptocurrency in my opinion"

I also waited for this event. But I was hoping for a completely different result from. It's a pity that the miracle did not happen. But I think that the price of bitcoin will not fall significantly.

This was no surprise, it doesn't adversely or positively affect the future of Bitcoin or the cryptocurrency industry as a whole, that's why there was very little effect on the BTC valuation as literally everybody expected it. We're probably hoping for ETFs to be approved far too soon, it's quite possible it might not happen for at least another year or two, until the government starts to appreciate the benefits and security that BTC brings to investors.

Why should one sell now because the ETF got rejected?

IMO this whole ETF thing was way too overhyped. Bitcoin has not been created to be used as a speculative investment, which unfortunately is the case currently.
Additionally the ETF got rejected quite often yet. So that wasn't anyway surprising at all.


The future of bitcoin is completely unaffected by this event. The dollar-price may vary a bit now, but that shouldn't have any bit influence.
I'd say the future consists of further developing the network, improving the protocol (e.g. schnorr) and building the LN to a massively scalable payment network.

Whether an ETF gets approved or rejected, does only have influence in the short term. In the long term the technology is the important factor.

The choice between selling and continuing to buy is in your hands, if you listen to my advice it is better that you hold your bitcoin more than you sell it because bitcoin will definitely go up again after some people try to keep the market in a mess right now, and I myself do a position the same is to continue to invest in bitcoin even though prices continue to fall.

Still looking Bitcoin stable on 6k to 6.5k zone even most of ETF rejected. From my side still you can hold. We can see on last year record of Bitcoin price that time wasn't ETF proposal. But Bitcoin price was touched almost 20K. I think this year will repeat the same trend. Just question of time, how long it will take. If ETF approve thoes are remain it will better for investors. Although rejected all ETF proposal I am not expecting Bitcoin price will go below 5K. Btw I will suggest if you can hold for long time than don't sale now. Just wait for end of year.

SEC ETF rejection affect the movement of the world of cryptocurrency espicially the bitcoin because people expecting the high up when etf will approved and the price will low if the etf will rejected but as i observe the price maintained since the etf was rejected.It means bitcoin not only depends to the etf to move and go.

If the ETF can successfully pass the review, it can bring more investors to the market, and when the SEC rejects it, many investors may have doubts about the cryptocurrency market!

Did the SEC approve ETF when Bitcoin rose to 20,000 USD? People over hyped the ETF issue that is why you are having this dilemma. Hold your coins. Don't sell off.

As expected, the market rose heading into the decision, and dumped when the news dropped. The dump happened right at a support zone, though, so it was minimal. I'd like to believe that these ETF rejections are starting to be priced in by the market. Who in their right mind expects ETF approval at this point? Only the naive.

You held all the way down to the $6,000s, and you're thinking of selling now? Because of ETFs? Maybe people aren't quite as bullish as I thought. :D

OP, had you actually heard of any of these applications until they were rejected? I knew of their vague nature, but not the names.

They're meaningless.

The one application people have a boner for may drag on into next year. They can't do anything about the SEC's prime objections so I expect that to be dead too.

In the meantime Bakkt will be up and running which will do many of things an ETF is proposed to solve plus plenty more too.

The first ETF rejection in 2017 ultimately did nothing to stop a bubble. I see no reason why the overall trajectory would change if there was another rejection. It's going to do what it's going to do.

This is expected, if we analyze the reasons why the SEC denied the ETF of the twins, then we realize that these ETFs that were denied today do not bring anything different, so you could imagine they would be disapproved


Why the hell are you in a dilemma? This is not the end of bitcoin and you can hold for a few years that you will have big profits

I think ETF will only make people panic selling, although ETF rejection I remain optimistic to hold bitcoin, although in my opinion the rejection that would make the price will come down because will many of the lay people panic selling.

Yeah, I don't know where people get this idea that news dictates the price trend (probably recency bias).

The ETF rejection last year is a case in point. A news-minded person looks at that event and says, "look, it caused a selloff! News rules everything!" But when you zoom out, that was a small (and somewhat expected) correction in a major bull run. Bad news can't stop a bull market.

It's counter intuitive, but I think anyone who wants to be a successful BTC trader should generally ignore the news. All fundamentals are reflected in the supply and demand, which is reflected in the charts.

Trying to quantify news into price is a fool's errand and it's a completely emotional exercise. That's why it's bad for trading: being a successful trader means trading without emotion. Just focus on price action......

lets imagine that there was actually a drop because of ETF rejections that took place yesterday. the drop doesn't wait for a whole day to start, then happen. the drop happens right away. the fact that now nearly a day has passed from the ETF rejection means it wasn't something that  could cause a drop.

in other words next time you assume something is going to cause a drop,  act on it right away and sell. of course you should first make sure your speculation is correct not wrong like this time.

Hello everyone,
I wasn’t too surprised to see the SEC reject those ETF proposal, all with the same old reason: the underlying market is too illiquid and prone to market manipulation ( that are a bad things in SEC view).
I am optimistic on ETF approval for two reasons:
1- It’s easy to implement a fixing venue that isn’t subject to manipulation, or at least it is less easy to manipulate (well, can you name a single financial assset that is IMMUNE to manipulation? I can’t). Two example: an ETF fixing from CBOE (VanEkt , decision pending on Sep. 30, possibly delayed until end of Feb 2019), fixing on the same market used for the future: if a venue isopod for the future fixing I can’t see a reason why an ETF cannot fix there.
Second chance is Bakkt (that would be ICE’s cryptocurrency maket),this is going to be huge. And ICE surely knows how to avoid market participants not to rig their markets.
2- SEC denial was not unanimous:there were a rogue voter that wanted the ETF approved and said that the SEC was not doing the right job in the best interest of the markets and of them investor.
So for sure I am bullish: every rejected ETF proposal get us one proposal closer to the right one. It will eventually be allowed and the gates of the “normies money “ will eventually get to bitcoin raising the biggest tide seen since 2009.
So, to answer your question: HODL!
MountaineerSN

till now SEC has rejected bitcoin ETF more than 20 to 30 time from the last year. After each SEC rejection little dump of price and it recover again. but if SEC approves VanEck ETF this decision was pending until September 30. Every investor is ready for both results. IF Sec approves the  VanEck ETF then Price will jump all market will green as all investors will shock.the biggest problem will be if the SEC rejects the VanEck ETF

The investors in cryptocurrency have decided to take their financial destiny by their hands. No body cares about what the governmental platform like SEC says.

Just hold your bitcoin for long time. Anyway i think ETF will be approved in September. But bitcoin will gain more value after time, he is the best cryptocurrency and follow all and can't be cracked, hacked or multiply by fake.

Every action at this moment is very sensitive. You should be aware of any possible action. Protect your property and limit bad news. Make sure your wallet and money are not lost.

Why would you sell off your bitcoin investment just because some regulator rejects the idea of an ETF, which is in no way representative of bitcoin itself? Do keep in mind that ETFs are tools used for speculators, and they really don't bring any value to the average Joes.

The markets have grown insensitive about ETF approval anyways, because of the amount of times it's been hyped up and amount of times it's been turned down. I'm fairly sure that most people understand what I said previously now as well, which is why we don't really see rallies before a potential ETF decision anymore.

My definitive advice is to keep holding, especially through this rough patch of bear market. There is virtually no benefit to selling right now, as the prices are just so low. Besides, an individual decision like the SEC's, on a fund made for speculators, really has no relevance in terms of the long term potential of bitcoin whatsoever.

Bitcoin has no use if the ETF get's approval so that is a good thing that they have rejected.If you know what is the technology behind bitcoin then you won't sell your coins,if you want to make money in some years you need to hold the coins for now.

I think ETFs can bring more investors to the market, but if the SEC rejects the ETF application, then the market may be affected at the speed of development!

This is not a bad problem for cryptocurrency development while there are still many people who support and save it, it will grow in the future, events like SEC and ETF have negative effects only after that, people start not caring about them Existence and focus on the market we have built since a few years ago, I believe that now is the glory of cryptocurrency with the enthusiasm of the community to build and use as it should, decentralization for mutual progress and individual progress.

there are two reasons why one would sell his bitcoins for a "negative news" like the ETF rejection. one of them is a logical speculative reason and the other is just dumb!
the logical reason is that you speculate that the market will react strongly towards that price so you want to act fast before that reaction to the news occurs. this reaction can be a sell-off to a bad news or a buying-frenzy to a good news. as long as you are a trader and know what you are doing and also act fast if your speculation was wrong, this is a good decision. in case of recent ETF denial some may have sold in anticipation of a drop (which we had a teeny tiny drop) but since it didn't occur they would have bought back losing a little due to fees.
the dumb reason is a panic sell just because the media is filled with bad news and because some other idiot is saying bitcoin will drop hard... it is obvious how bad this is so I wouldn't go into it :)

Maybe you are taking the discussion statement out of the context, as you can see op is directly needing accurate information as a suggestion if he will continue to hodl his bitcoins, if sec rejects ETF. On the other hand, it is not an option to not still keep on believing on bitcoins capability the market stability is still on 6-8k road,  so anything unsubstantial happen then it is good time to dump. But as long as the wheels keeps on turning let us just take time to understand to what is happening.

Firstly We shouldn't be highly concerned about the ETF because some regulated authority is doing so which has nothing to do with Bitcoin and cryptocurrency over all. We are bitcoiners and have nothing to do with these regulations, we are above all. In my opinion these regulations are used as tools to bound Bitcoin to the centralized sources which is not in favour of a decentralised currency.

No surprise for me to be honest and I don't care if Bitcoin will be accepted or rejected by the SEC. I know that Bitcoin is being manipulated right now and the market is immature that the price action of Bitcoin depends on the News being spread across the internet. Being rejected by SEC will be ok for me but being accepted will make the price rise FOR A MOMENT. Remember Sell the News.

I don't think he's doing a fundamental analysis about ETFs. I think he just wanted to know if this meant price was going to crash. :D

To me, it's indicative of the "buy the rumor, sell the news" mindset. He was holding heading into the ETF decisions, and only considered selling once the news dropped.


I wouldn't be surprised if we do this dance one more time, with the SolidX decision next month. That one has been more hyped than any other.

Same thought. It's probably the last easy ETF short opportunity of the year, and probably for ever. At some point people have build up enough resistance so that the market just doesn't care anymore until one of the ETF's actually gets approved, but that's unlikely to happen in the forthcoming years.

The only point of importance is that I believe we'll see a correction reasonably far (two or three ish days) before the actual decision date. We've seen it happen this week and it should be used as an indicator of the state we're in. It would be epic though if the price instead of correcting goes up badly busting our shorts one by one. :D

I had a dream last night that suddenly the BTC price crashed in a vertical line down to $3000. I was nonplussed and went to the refrigerator. Came back and the price was back up $12000. Thought nonchalantly, "oh I guess that was the bottom."

All the pessimism, burnout, and the blood bath in altcoins around here feels like a bottom:

https://steemit.com/trading/@anonymint/most-important-bitcoin-chart-ever

SolidX will not likely be approved but the NYSE futures with physical settlement will probably be a reality at the end of the year.

Some development is likely going to propel BTC back to new ATHs in 2019.

It does in the short term but ultimately it will not matter because bitcoin mass aoption is what will drive the price better,rather than institutions

That is true, we hit 20k USD without etf or promise of such, that is why I always stick to adoption as a better thing, gradual growth, not some spike by institutional funds which can also leave at will

ETF rejection will affect bitcoin because many people and investors will invest based on the news and because rejection is not as expected investors especially the short time one will sell off the buying position.  But the wise one will buy the dip and push the price up again.

As crazy as it is, the old "China bans Bitcoin" trick worked for years longer than I ever thought it would. I'm hoping this ETF stuff doesn't morph into that kind of tired news cycle.

The SolidX decision does seem like an easy short, assuming we rally (or at least go sideways) into the news next month. For now, that still seems like a good possibility.

There is a recall of the earlier rejection by SEC, so the decision may now be positive after the review, Also, there are several other ETFs still remaining for them to consider.So Hodl