Bitcoin Forum

Now we have 2 SEC judges in favor or BTC ETF and 1 against, the market should have to give some signs of growth by now, we have a likely ETF approved and Bakkt soon, why does the price is going down? am I missing something?

Probably mt. gox still dumping their coins.  Also , 13 bitcoins? That is a very unlucky number so watch out :)

the ETF is not the sole basis for bitcoin price though it affect the price there are still lot of factors affecting it as great number of bitcoin traders are not concentrated only in US

who are you referring to when you say "in favor"? i assume you're referring to hester peirce, the one dissenting vote in the winklevoss denial. but who is the second one? elad roisman? i haven't seen any specific comments from him indicating how he might vote on an ETF.

there's 5 commissioners. clayton, jackson and stein voted against the winklevoss ETF. so even if roisman is pro-bitcoin, that would probably still be a 3-2 denial for the solidx ETF.


the market is in a total lull. it doesn't seem to care about good news or bad news.

investor looking news not only thats dude.maybe they have their own reason why they sell their asset although positive news will come to market.

Bitcoin ETF is more likely to be approved but why is the price down? in my opinion ETF is not a guarantee to make BTC prices rise. but purely because of the purchase of a lot of people, if the price of btc is currently down, maybe many investors are afraid or they are waiting for the good time to buy BTC.

"more likely to be approved" Nope.No way...

Currently there aren't any good news about bitcoin and I guess that the lack od good news is actually bad news for the crypto traders.That's why the bearish market continues.
I found some news about a "bitcoin bug" getting exploited,but that was related to pigeoncoin, which is an altcoin that used code from Bitcoin Core.I guess that the newbies think that this is related to bitcoin in some way.

For the bearish market continuing despite talks on etf, that can be a sign that whether ETF approval or not, bitcoin and cryptocurrency has come to stay and this is my believe because blockchain is seriously getting all the positive news. I just need to store more valuable coins.

Bitcoin's value is not dependent on the ETF decision. It may affect a little bit but it won't make the price skyrocket. Bitcoin can survive whether it's approved or not. We need to look at other factors as well like FUD, season, and adoption. No one can really tell what will happen to it's value in the future so we'll just have to wait and see if ETF decision can really influence the performance of bitcoin in the cryptomarket.

Yep, agree with you. For now, the price depends on many factors. We are close to a very significant support though. We need more bullish volumes to resume the uptrend

Yes, that's true.

I'm sorry to tell you that investors are what we call getting "smarter". They won't just pour their cash because of a "likelihood of a ETF approval", what they really wanted to see its tangible news, not just pure speculation. So we might see bitcoin trading sideways in the next couple of months as investors opted to play the waiting game. Those who FOMO is already out, learnt their lessons very well and simply won't just enter at this current trend. As for approval/denial of ETF, nah, we're getting tired hearing about it already.

we have to see other factors that influence to cryptocurrency price.i am agree SEC approval could not be the one and only reason for bitcoin and altcoin price at this moment.

complex once the formation of prices from crypto, especially bitcoin, where one of the factors is ETF that is not approved. but crypto is currently experiencing problems where many new projects and ICOs have become a scam and many investors are holding back from buying large amounts and this is detrimental to the crypto market

And why it should be raised to me is very interesting ... Indeed, as far as I remember last year there was no ETF, and nevertheless, the price of Bitcoin soared in just a few hours.  And now everyone is trying to tie the news of the regulators to the growth of the coin ...

It only means that people are expecting in that way that the price would go up if ETF will be approved so the whales don't want people to join in the ride.

This absolutely has nothing to do with Cryptocurrency. It is good they did not determine the price. Mass adoptions and decentralized usage should matter more to us. We don't need Bitmaim like entities hijacking Bitcoin through the back door.
 I refuse to be brainwashed.

People have lost interest in this bitcoin ETF, even if it were to be approved the whole Bitcoin ETF hype has died down. It wasn't going to last forever, and it certainly wouldn't trigger a shift in market sentiment which is bearish.

Also, it seems like you didn't know but we're in a bear market, prices will either stagnate or continue to go down until they test support levels, there's no buying pressure (demand) from the general either so that's also a reason why prices continue to go down or simply fluctuate around the same levels for the past few months.

Crypto like everything else goes in cycles and nothing can reverse them. We're still on the downward slope of a huge leap upwards. 2014/15 had a lot of cool stuff happening too and it made zero difference to the trajectory.

ETFs may turn out to be a non event, it's just the latest thing for bots to play with. Bakkt is an interesting one. But like all previous things that were going to 'save' us like futures, LedgerX and a ton of others, once they were rolling it was the same old nothing.

But who says that currently bitcoin prices are getting fluctuated due to ETF? That is most misleading info that you have got. I know that there is some impact of the ETF and SEC decisions but lets think for a minute that before the SEC and ETF came into recognition like this the crypto was very much easy to trade and invest and had no impact of it.

There was nothing like this and crypto was still blooming heavily. I think people are in the psychological trend that if there is disapproval of the ETF then something big will happen to the crypto. However it wont affect it at all, because we can still have the same crypto without it.

As far as I am concerned, the ETF approval for Bitcoin may not necessarily be what will make the price skyrocket. Even when ETF was not in the picture, we experienced same highs and low values for BTC.

ETFs are not the primary reason as to why there should be some form of uptrend. Traders have learn to avoid any decisions based on ETFs as it's still likely to be declined rather than accepted, even if there are already 2 commissioners favoring in the decision. Perhaps when ETFs are approved, that is the time where increases would be seen and the downtrend spell would be reversed. Right now, it's all baseless assumptions and pointless discussions regarding ETFs that don't really add up anything to bitcoin as a whole.

the acceptance of Bitcoin by ETFs does not guarantee that the price of bitcoin will be pumped by it, this is only one way of bitcoin to be increasingly accepted in various lines of life, but again it is not a guarantee.

ETF was not even meant to be any guarantee that there would be some changes in the market, and I guess this is just some set of people trying to be optimistic unnecessarily based on ETF approval and trying to attach the mindset that it should bring something new to the table, that have decided to see ETF approval as a news that should be affecting the market.

At this stage, we will need a much better news than ETF, and asides that, I do not see ETF as a driving factor either.

 Maybe it because its not yet fully declare the result. Lets wait to the whole decision maybe that time investor will come again and pump the market.

it is simply because the "Market" is tired of SEC's nonsense and has decided that it doesn't want to react to their shenanigans anymore. so no matter how many good (fake) signs they show us, in the end we know the result is not going to change, most probably. so we don't care about who is in favor of what now.
not to mention that we are not so sure about ETF being good for bitcoin anymore. it may actually end up being a terrible thing in the long run.

Approve it or not Bitcoins life goes on and on as it is a decentralized asset. Prices might be affected but not that hard.  It is not about ETF, it is about the Bitcoin community that strongly supports it. If the community has a lot of weak hands, whales and traders then the battle of volatility or the what we called uptrends and downtrends will continue as it is one of crypto's or Bitcoin's characteristics.

I think, the crypto investors became desensitized to ETF. Bakkt announced that it will carry out the transaction with real bitcoin purchase. I think it will be more effective in terms of market pricing of Bakkt.

I think ETF is not going to be approved anytime soon so the "more likely to be approved" is a wrong false flag for us. However lets take it into consideration and say that it will be accepted, why would it matter for the price of bitcoin ?

People who buy bitcoin ETF is not actually buying bitcoin, none of that money goes directly into bitcoin space at all, it is basically betting on which direction bitcoin will be going without actually spending money on bitcoin. So, even if it gets accepted there won't be new money coming into crypto, it will just be gambling on the price of bitcoin, thats all.

It's still not likely to be accepted considering the extreme volatility and potential market manipulation it is being subjected to. Either way, the current market conditions put very little weight on positive news, and a lot of weight on negative news. Hence why small FUDs cause big dips, and great news leads to only minor gains. Until we get out of this state of hypersensitivity, we're not going to see much growth.

you are not forgetting anything, what happens is that the time for a possible approval is still very long so people are preferring to wait for the price to fall further to buy, and they are doing this process very well done and see that this is an excellent strategy because on the one hand people who are desperate because the price does not rise so they are selling and on the other hand we have the smart people who are buying to sell when the SEC approve the ETF. about Bakkt is the same thing, will only have a big influence on the price when it starts to operate

I think we should be patience, i do think ETF would be approved but it would be on febuary and maybe it would take effect in 4 months or less. We need a clarification about ETF and we should wait patiently. I think market condition is really good and more stable, i expect big grow in november when bakkt launched and in febuary when ETF most likely to be approved on that months.

Let's say people are afraid to invest, they want to hear the news that it's been approved before they will invest. It's been long the bitcoin ETF is been said it will get approved, but when the time reaches, the SEC either disapprove it or they postponed it and this has happened a couple of time and each time it happen, market normally reacts in a downtrend, so this time, no one want to take chances anymore, let it get approved and we see how the market will react.

There are so many other reasons for a market should grow when it comes to news and I do not see this being one of them as far as I am concerned. Whether ETF gets approved or not, I thought by now a lot of people should have known that it has nothing to do with the movement of the market.

The market is always bound to move as it pleases and how people perceive it and that would be based on some price actions as well, but for now, I would just say the market is totally in an indecisive state and only some news about adoption can save the day and not some ETF approval. Maybe we need to start understanding that the market is generally not affected by news since it is still mostly speculative anyway and easily manipulated.

Apart from all that, I really do not see ETF really having that much of a huge impact in the long run and it is just like opening another channel for inflow of money and it is not like we should just expect something big or huge to come out of it. Give me a news of scaling option being implemented, huge number of merchants all over the world beginning to accept bitcoin as a means of payment, and then we start seeing real life usage and adoption, then, tell me, if you won't see the market grow. That is news, not some ETF approval or 2 judges in favor thing.

You have a good analysis but lately, we have also seen relatively stable price not diving to the left nor right despite the FUD or otherwise ... Is it really what should get ETF, I have been wondering if market sentiment really has ears, listening and behaving as against volatility.  ???

That's assuming they generate worthy enough volumes to really become an important player in the market, which I am not really that confident about. I'm not writing it off entirely, but it's good to be conservative.

Another factor is that the market matures as time goes by, which means that 'good news' and to some degree also 'bad news' will become even less of a thing. It leads to less overall volatility which is a positive step forward.

Why should the market always react to news? It's no longer 2013/2014 where the price pumped each time a large merchant started accepting Bitcoin. That was pathetic in my opinion.

I think the "hype" about the SEC is already factored into the market, because most speculators have already bought some coins in

advance, before the rush happens.  ??? We have seen several exchanges folding under the pressure, when these major events

happens, so I think it is a safe bet to buy in advance and not on the day of the announcement. A lot of people are not falling for

the games being played by the SEC, so they are dumping some coins now.  ::)

It's the same with futures. They are subject to extreme volatility and yet we have futures being approved and regulated.
ETFs were well thought over by companies and their lawyers and these are not newbies. They are managing millions of dollars every day so they know what they're doing and they know the SEC will have to accept their project. It's only a matter of time.

yep, all these newbies praying for an ETF to save their bags should be careful what they wish for.

ETFs and other paper derivatives may be "backed" on paper, but so is much of the paper gold/silver market that is blamed for manipulating the spot gold/silver markets. i'd like to think that bitcoin derivatives won't be the "tail that wags the dog" but how can we be sure? what if volumes on derivative markets drastically overshadow volume on spot markets? that could potentially grant institutions and central banks a lot of influence over spot market prices.

Investors have not found reasons to come in yet, so it invariably means new money hasn't made it's way in the market. Until that happens, the market might just continue to move sideways

I just hope the market will be really boostable by the input of the ETF. I aint really seeing the market going down but its somewhat static; going back and forth. If the market dips really further than where it is at the moment then I see a plot in the introduction of the ETF at this period then see no point having the ETF bringing the markets to a level where it is now.

One thing to consider is retirement accounts. Retirement account investment is a decent chunk of the stock market, and an IRA can invest in ETFs. However, derivative trading is generally prohibited (https://www.investopedia.com/articles/retirement/11/impermissable-retirement-investments.asp), or at least outside the reach of retail investors:


I'm pretty sure that rules out things like CME futures and LedgerX swaps.

So it might be interesting to see whether ETF shares could be rolled into conventional IRAs. Considering the tax benefits (no tax on gains until withdrawn), it's pretty tempting to invest. I'm curious how accessible they might be through mainstream custodians.

I think we will soon start to see higher prices of Bitcoin once the news of possible ETF approval circulates properly. Besides, we still have about three months to the approval date.

It just maybe, anything still can happen, most of the time people said that etf is going to be accepted and then it failed, so the investors still hesitate, and most of the people not too agree with the etf idea, some think that etf is a bad idea and the long term effect is bad, so etf is not totally a good news for some people, but when the etf being approved we will see some rising, so be patience to wait for the update news

maybe it takes time to see reaction happen, and it's true there are still 3 months to see reaction. i am sure that with good news, it will have a good impact on cryptocurrency

The decision on the BTC ETF will be made, most likely no earlier than February 2019. Do not hope for a quick adoption of this decision.

I am believe bitcoin price rising will happen soon. I am believe with more good news in market right now, many investor will come to crypto market and make the price increasing.

People don't need to over stress the bitcoin ETF approval. If we continue to lay too much emphasis on this subject, we may be very hurt if at the end, the SEC failed to approve the proposal.

That was the last declared date. Lets see if it gets delayed again. ;D Once again blame the centralized money hungry people for this. They wont even understand the effect of this on the market.

But think about it - when ETFs do get approval, stock and commodity market traders will enter in the crypto market. This will raise the volume and market capitalization but it wont change the panic selling and whales scene. Those people will still be there because the ones who will enter will be the same humans.

Again price drops during this time are not due to ETFs, people are cashing out money because they dont have patience to hold for the year end or just plain panic selling after high doses of FUD :D

The ETF of bitcoin is likeley to be approved but Bitcoin prices are still at its lows. This is due to the panic regarding Bitcoins devaluation, as more and more people are trading off their Bitcoin will soar back up when it is fully approved.

Firstly, a large amount of money is withdrawn from the market at the moment. Secondly, the market is already so “fed up” with this news that the market no longer reacts to it. Accordingly, now the mood of the main holders and traders are changing from other more relevant news.

ETF is not the sole basis for bitcoin price. The investors may have their own reasons why they sell their asset although positive news will come to market.

Bitcoin ETF are more likely to be approved but still price is going down. This approving of bitcoin ETF has nothing to do with the price of bitcoin, even though it may put a minor effect. Bitcoin is a volatile market and the price is eventually go up.

You are right man an I was suppose to say the same thing on why do people make this news or stuff to be a main driver or indication to dictate on what would be the price movement. Not all news will trigger out price increase even though its sole related but generally speaking ETF has  nothing to do with price increase but it do somehow a good fundamental if you do make trade up but overall I don't see this would be relevant to dictate on what should be the price movement would be.

The bitcoin ETF is almost comatose aich direction prices will s far as approval is concerned this year, may be we be next year, until then, we are not sure which direction bitcoin price may go.
https://www.sec.gov/rules/sro/cboebzx/2018/34-84367.pdf

ETF is not the only reason in this regard.Maybe people are willing to wait for the future,see how things go by.Legalization should be the key factor here,people are waiting to see the acceptance of bitcoin.

ETF will take long effect to market. Its good for market but it will not instantly effecting on the price. With ETF approved by regulator, investor will more confident and it make them make a plan to enter crypto market. I am believe the price will increase in near future

I just read an article on Forbes before coming across this topic, and the author was just talking about why the launch of BTC ETF will be disappointing from a price standpoint. He said that right now whales are holding their position cause they are expecting the price to fall due to there is likely to be a selling pressure once this rumor becomes the news. So that might be the reason why things are this way.

A whole lot of you are stressing yourselves emotionally trying to assume what the market would be like on an approval of ETF. Firstly, I do not even seeing ETF being approved this year, and I so much think this would just be stalled, postponed and all for as long as they want to but I do not see that affecting the market in anyway. Sure, a lot of people may think this would bring in new money into the space and obviously makes it look like the SEC backs it up somehow, but best case scenario I see is that the price gets driven up fast, people start getting greedy and before you know it, we end up seeing the same process we have always seen before.

It is a market, and you cannot just expect that because of some news, you will just start seeing reactions immediately, but since a whole lot of people are seriously putting too much attention on an ETF that I really do not see getting approved this year or I really do not see having any serious effect on the market, as long as people want to give themselves hope because of it, it is their call, nothing bad with it. One thing I have always known is that this is a market that is here to stay and will thrive either with ETF or no ETF in the long run, but sure, if ETF peradventure speeds up mainstream adoption, well; it is still all good anyway.

People get into a mindset for flat crypto market so the prices were still the same region but if we watch out them very deeply we can see some minute growth in the crypto prices for two weeks now so the prices may bump in the upcoming days but ETF won't have much impact on the prices because it will just create the temporary waves.

By all means you can forget about that. Lawyers and Law firms have better things to do than to legalize something that has been called bad for a long period. Though fiat has been used to funding all sorts of criminal activity people will blame crypto to be the source of funding. Thats by nature what no-coiners want to say and thus the general public opinion and why it wont get any legal traction, at least not for now.

Your point makes no sense. Without ETF was there a market that was not worth investing in? Did the 201 pump happen for nothing? ETF may happen but they are not going to be reason of market rise. Drops in price will happen if they get delayed though.

I think its the common motto in cryptocurrency. Buy the rumor, sell the news. When ETF first heard, we see a huge spike and it happen months ago when it go to $8k if I'm not mistaken.

To be honest, I don't care even Bitcoin ETF will be accepted or not. For me, I will use Bitcoin until it will be used globally. This is an another step for mass adoption however.