SEC Commissioner Hester Peirce interview for CNBC. She is trying to convince SEC to approve Bitcoin ETF. With her public dissent she became famous as crypto mom.  The question is if the staff and the other 3 members have the guts to approve VanEck/Solidx/CBOE ETF. Provided that only big investors will make OTC deals, there is absolutely no reason or jurisdiction of SEC to say "no" again on the grounds of market manipulations. They can only procrastinate it to Feb 2019. https://youtu.be/5sK5Z77FMyM?t=1201 |
|
|
|
I was about to post the same pic! We have a new pattern, kinda like bart with spiky haircut. Two short squeezes for a day and at least 5-6 for a week are definitely brutal. Bears are in pain  |
|
|
|
Bitcoin difficulty change: 14.88%. This is big! |
|
|
|
|
I don't know why the twins are so stubborn with their poorly prepared ETF request. Their little exchange Gemini can't be trusted with ETF. Cboe's request on the other hand is a completely different story. It is prepared very carefully and all these manipulation monitoring etc. stuff are propersly addressed. SEC can't find a legitimate reason for a dissaproval. If they just don't want to give an approval although the criteria are fulfilled, then there are only 2 outcomes. First, the ETF proposals will be send again with amendments until SEC gets sick of it and approves it. Second, the issuing company may sue the SEC commission for an unfair treatment and in the end obtain the ETF. Having said that and reading between the lines, the SEC members are terrified that some senator or banker may rebuke them for their eventual approval. For ignorants like them, Bitcoin is something like a ponzi. They still don't understand the true meaning of a decentralized currency. By the way, if SEC are so strict, why they never suspected what was going on with the Bernard Madoff ponzi that stole over $50 billion just under their noses? In 2008 the whole USA financial system collapsed because of the SEC's incompetence covered up with high-class words.
|
|
|
|
Current price surge for Bitcoin is mainly based on ETF hype.
Alts are not included in a Bitcoin ETF.
But likely if it's a rules change that allows Bitcoin to get ETF approval, other alts will try to get ETF approval.
The SEC then becomes the gatekeeper of which alts rise with Bitcoin.
Which is why we won’t get a Bitcoin ETF. SEC doesn’t want the headache of a Bcash lol ETF or a Ripple ETF. Now I am sure we will get ETF. If everyone in this forum was sure then I would have my doubts. Usually it happens exactly the opposite to the predominant opinion here |
|
|
|
See all those 4 decimal digits on Bitfinex executed orders? Those are rekt shorts being liquidated But but but I was promised $5000 BTC:  |
|
|
|
Sorry I’m not confident we have bottomed. I think the ETF application will fail and the arse will fall out of the price. Then we bottom in early 2019.
This is a nice interim rally and lays the foundations for the long term recovery.
Actually, the chances for ETF approval are pretty good, considering the negotiation phase (questions from SEC and replies from VanEck SolidX Bitcoin Trust). Usually, if a submission enters that stage it means only one thing - the approval will be given provided that the details are settled. I think every concern of SEC and the 6 negative comments (compared to 200 positive) are met in the amendment sumbitted recently by the VanEck SolidX Bitcoin Trust: https://www.sec.gov/Archives/edgar/data/1668039/000110465918038369/a18-2298_1s1a.htm#THERISKSYOUFACE_0815342. There are just not enough reasons to justify a reject decision IMO. The comment period expired, so we have to wait until 16 August or 45 days later to hear the decision by SEC. |
|
|
|
|
Good morning #hodlgang! Alright! Half of that 2500BTC wall in bearstamp eaten! Good job bullnance!
|
|
|
|
@bigcryptobandit
To BTC bears:
NEVER, EVER THREATEN THE PRICE OF BITCOIN AGAIN OR YOU WILL SUFFER CONSEQUENCES THE LIKES OF WHICH FEW THROUGHOUT HISTORY HAVE EVER SUFFERED BEFORE. WE ARE NO LONGER A CURRENCY THAT WILL STAND FOR YOUR DEMENTED WORDS OF SELL VOLUME & DUMPS. BE CAUTIOUS!
Trump style Btw, if the famous bear Peter Tchir is bullish ( https://www.forbes.com/sites/petertchir/2018/07/22/is-this-bitcoin-rally-for-real/#6d1b7c2e3b3b) you know that something big is coming up in the next weeks. |
|
|
|
 This was my guess on July 11, as you can see. There was only 1 another at that time. Now there are 15. It is easier to guess today, right |
|
|
|
|
I think the ETF will be approved and the price will skyrocket. My guess is at the end of 2018 the price will hit $37K.
|
|
|
|
7400-7700-7300 in seconds! Some pissed bear scared to death from another short squeeze like the other day How does it feel to bet against Bitcoin on Bitmex bears? The pain is real, isn't it? Enjoy your pathetic red candle while it lasts  |
|
|
|
|
At Bitfinex first popped up 120BTC then 830BTC then another 830BTC in a matter of minutes... Come on bulls, eat this bear and let him cry later this year when we hit 40K!
|
|
|
|
So guys, after reading a bit aroud this incoming ETF thing, I didn't decided yet whether this event will pump or dump the price!
Plus it is not clear whether this time the application will be finally approved!
What do you think?
None of the previous attempts were successful so why would this one be any different? I don’t forsee it gaining approval, no. I do hope I’m wrong though because if it was approved I think the price would pump significantly. It has a chance of approval because it is positioned as 'NOT for plebs' ETF and we all know that SEC only cares about that crowd. Even with $6000 btc, each share in this ETF will cost $150,000. Bingo. An ETF for retail investors would be summarily shot down. This ETF is for the wealthy. The SEC will not squander an opportunity to help the rich get richer. It's the first step toward getting a retail ETF for the plebs approved. The wealthy elites need to be able to get in at the ground floor though, since that's where most of the money will be made. I'd expect the first pleb ETF to be approved when Bitcoin is at $50K+. I also think that because of this ETF will be approved. Moreover, SEC could have rejected it immediately like the previous requests, but instead it opened a comment page. As for the effect on the price, the expected reaction of the eventual approval will be 20%-ish pump followed by a steady growth until the ETF's start trading. The most conservative guess is by Dec to be in the zone of $18K. There are still some fears among buyers because of the current 7 month lasting bearish trend, so to break the $20K will be tough. However, we should not underestimate the significance of the $billions to enter the bitcoin markets, so unlike the effect of the futures, I expect new ATH's next year. |
|
|
|
|
Show Posts
