ETF decision before 11th March

[boyptc]

The price could be dropping because most people are saying that it is unlikely that the ETF will get approved. Although it's hard to tell the reason and it is still relatively high right now.

I don't know but my heart is beating faster right now. And I didn't sold some of my coins because I do believe that ETF approval will have a big impact and those panic sellers will regret their move. Let's see what will happen if the price will be rising after this ETF will be approved or denied. I'll following these news now,

[meemiinii]

Drama is already on, there is huge correction going on price right now may be someone from inside know what will be the decision. If it don't got approved there is high chance that price will go even more down to almost 1000$ range but if got approved we will see real price surge.

A drop down to $1000 as bottom would be a very good outcome in such a scenario!
This sell off we've seen could also be a shake out of weak hands, to accumulate even more coins by big fish before the
ETF gets approved!
So you can spin it however you want. You and me, as small guys what we are, know nothing and can speculate as much as we want. We will know it after the announcment was made.

i agree with you mate. the price of bitcoin has just dump due to weak hands and panic selling. because lots of holders are somewhat afraid that if ever the ETF will be rejected the price will fall harder. so maybe they we're thinking might as well sell it on higher price before its too late. but in my opinion, whether or nor ETF will have the approval of the SEC, holding or buying bitcoin today is much of a better choice. surely months from now it will still rise to 1500 usd. this ETF approval is just somewhat a form of a shortcut for price increase. BITCOIN is for LONG TERM. It's not meant for weak hands.

[Yakamoto]

The price could be dropping because most people are saying that it is unlikely that the ETF will get approved. Although it's hard to tell the reason and it is still relatively high right now.

I think it is dropping because everyone is waiting to see what the result is and a lot of speculators are selling early because they're losing confidence that the ETF is going to get approved, or some whale decided that he liked the high $1.2k values and wanted to make sure he got the most out of his money before anything happened, partially triggering this event.

We might get lucky and it gets approved, and that means value goes up quickly.

[batang_bitcoin]

This is exciting and we are near to it. I hope SEC will consider ETF and will approve it. We know that when they will make a news about it and published that they approved it. Many investors will get into bitcoin and the price will make it pumping. I'm following the news and I can't wait to see what will be the result.

[bravehearth0319]

If the news are true then we should expect seeing results either tomorrow or Friday.

"The SEC has an 11th March deadline to make a decision regarding the proposed rule change that would clear the way for the ETF, which would be the first of its kind. Yet because the 11th falls on a Saturday, that decision will come before that date – potentially before Friday, the source said."

[1] http://www.coindesk.com/sec-decide-bitcoin-etf-fate-friday/

I know majority of the bitcoin community are much awaiting on this date, and most of them including myself are also expecting something that there is a good news to come for us. Like what I had read on https://bravenewcoin.com/news/bitcoin-price-analysis-buy-the-rumour-sell-the-news/ the next big market move is the SEC ETF decision on March 11th, which is a Saturday, so expect an announcement on Friday, March 10th. Technical remain heavily bullish with price targets between $1400 and $1800 in the coming weeks. Expect the SEC decision to negate any technical in the near term when the announcement is public. I always discredit the ‘buy the rumor, sell the news’ paradigm but it occurs more often than not.

[maku]

Yet because the 11th falls on a Saturday, that decision will come before that date – potentially before Friday, the source said."

I just hope that this news is not out already (available only for some inner circle traders) and it wasn't main reason behind latest price drop.
Because if that was a cause bitcoin dropped more than 5% during last 24 hours, then I don't want to see how big will it drop when everyone will know about ETF fail.

[mrcash02]

Yet because the 11th falls on a Saturday, that decision will come before that date – potentially before Friday, the source said."

I just hope that this news is not out already (available only for some inner circle traders) and it wasn't main reason behind latest price drop.
Because if that was a cause bitcoin dropped more than 5% during last 24 hours, then I don't want to see how big will it drop when everyone will know about ETF fail.

I believe those old investors that are using Bitcoins since months or years ago won't left Bitcoin because a disapproval, the new investors speculating maybe will, it's important, but it doesn't represent the end of Bitcoin. The price could drop a bit, but at any moment it will recover again and start increasing. Bitcoin survived until now without ETF, it's not now that it will die because ETF disapproval (if it be really disapproved, we don't know yet).

[jeraldskie11]

I don't think so that there is a huge increase of bitcoin price if the ETF is approve. There will be two days more before the decision of ETF and the current price rate is down and its continue drowning, I hope it will be a good news for us on march 11.

[Kakmakr]

Remember the whole process has built in deadlines that needs to be met and even if the deadline is set for the 11th, a decision can be made before that. So in all likelihood we will know what was decided before the 11th of March. I think we might hear something on Friday, but I am just taking a calculated guess. ^smile^

This has been going on and on since 2013 and I just want this to end now. The twins has been fighting this battle for a few years now, since their path has split with Charlie and trying to do this in the legal/regulated way. 

[terrate]

In case of approval, would this open a precedent, giving "sure of approval" to future ETFs (maybe even from other cryptocurrencies)? Or each case is examined separately by the US regulatory bodies?

No. i think if approved only bitcoin...
is examined by SEC

[thesavoyard]

Speculation may be partially behind the price drop. But one of the three Chinese exchanges that had withdrawals frozen allowed trading to resume. That's a months worth of BTC for some massive mining operations being dumped to cover expenses.

That has to be one of the factors. Also, if ETF is denied at the same time the other two open, get ready to buy because you could see some 2014 pricing.

[joshy23]

I'm getting nervous on this. LOL. Anyways, another milestone in bitcoin history whether approve or not. The whole bitcoin community will be all ears come Friday or Monday. I hope the result will be favorable to us so that bitcoin price will rise and most likely be adopted by a lot of merchants globally. But If something doesn't went our way, I think expect a drop in price. I'm speculating that the price will go as low as $900 as base. This is just my opinion.

[NUFCrichard]

I don't expect any news until the 13th. I think they already extended the deadline to include Monday, as they won't announce anything on Saturday.
Buy the rumour sell the news in this case would seem to mean that you should sell now and buy back lower after the announcement.

It seems fairly universal that people expect the ETF not to be approved, so buy that rumour (sell Bitcoin), then when it happens, sell the news (buy Bitcoin).

I expect a weekend pump if they really don't announce until Monday, unless there is a leak.

[RJX]

I'd say it's a good thing this gets approved, more exposure will be good for larger adoption and maybe this will get more people worrying about the current backups in transactions which will hopefully force a breakthrough on this matter.

[Yuuto]

Drama is already on, there is huge correction going on price right now may be someone from inside know what will be the decision. If it don't got approved there is high chance that price will go even more down to almost 1000$ range but if got approved we will see real price surge.

Insider trading may be a thing but I don't believe this is the case. Who can know what the SEC will do? Only people in the government. Do you think there are bitcoin whales with SEC-tier access to the documents? Im not sure about that. We are still in the early days, most bitcoin whales are computer nerds and cryptoanarchysts. The businessmen whales like Winklevoss are a tiny minority.

Well, it is possible.

If the people within SEC leak out some info to their family members or friends and tell them to buy a shit ton of bitcoins on their behalf because they know it's going to get approved, or to short sell as much bitcoin as possible on their behalf because they know it is going to get rejected. Although probably that isn't going to happen due to the nature of SEC as a government agency, it is possible.

I'd say it's a good thing this gets approved, more exposure will be good for larger adoption and maybe this will get more people worrying about the current backups in transactions which will hopefully force a breakthrough on this matter.

Well yes. It'll offer a lot more options for the investors for sure.

[thesavoyard]

I don't expect any news until the 13th. I think they already extended the deadline to include Monday, as they won't announce anything on Saturday.
Buy the rumour sell the news in this case would seem to mean that you should sell now and buy back lower after the announcement.

It seems fairly universal that people expect the ETF not to be approved, so buy that rumour (sell Bitcoin), then when it happens, sell the news (buy Bitcoin).

I expect a weekend pump if they really don't announce until Monday, unless there is a leak.

The problem with that line of logic, more people think it'll be approved. There is a survey on this forum and most speculators are leaning towards approval. You've got a bubble in this thread where you think negatively. Some of it based on bad speculation like the price drop.

[aardvark15]

I don't expect any news until the 13th. I think they already extended the deadline to include Monday, as they won't announce anything on Saturday.
Buy the rumour sell the news in this case would seem to mean that you should sell now and buy back lower after the announcement.

It seems fairly universal that people expect the ETF not to be approved, so buy that rumour (sell Bitcoin), then when it happens, sell the news (buy Bitcoin).

I expect a weekend pump if they really don't announce until Monday, unless there is a leak.

The problem with that line of logic, more people think it'll be approved. There is a survey on this forum and most speculators are leaning towards approval. You've got a bubble in this thread where you think negatively. Some of it based on bad speculation like the price drop.

If more people think it will be approved, then the price will definitely drop if it's not approved. That would be a good time to buy as much as we can at the lower price before it goes back up again.

[shinratensei_]

I don't expect any news until the 13th. I think they already extended the deadline to include Monday, as they won't announce anything on Saturday.
Buy the rumour sell the news in this case would seem to mean that you should sell now and buy back lower after the announcement.

It seems fairly universal that people expect the ETF not to be approved, so buy that rumour (sell Bitcoin), then when it happens, sell the news (buy Bitcoin).

I expect a weekend pump if they really don't announce until Monday, unless there is a leak.

The problem with that line of logic, more people think it'll be approved. There is a survey on this forum and most speculators are leaning towards approval. You've got a bubble in this thread where you think negatively. Some of it based on bad speculation like the price drop.

If more people think it will be approved, then the price will definitely drop if it's not approved. That would be a good time to buy as much as we can at the lower price before it goes back up again.

Very good for those people are selling his bitcoin on the top price. and i think this is a big gambling about the ETF decision, everyone is the bitcoin trader are betting on that big thing. And i the market will be more sensitive caused by this decision.

[thesavoyard]

I don't expect any news until the 13th. I think they already extended the deadline to include Monday, as they won't announce anything on Saturday.
Buy the rumour sell the news in this case would seem to mean that you should sell now and buy back lower after the announcement.

It seems fairly universal that people expect the ETF not to be approved, so buy that rumour (sell Bitcoin), then when it happens, sell the news (buy Bitcoin).

I expect a weekend pump if they really don't announce until Monday, unless there is a leak.

The problem with that line of logic, more people think it'll be approved. There is a survey on this forum and most speculators are leaning towards approval. You've got a bubble in this thread where you think negatively. Some of it based on bad speculation like the price drop.

If more people think it will be approved, then the price will definitely drop if it's not approved. That would be a good time to buy as much as we can at the lower price before it goes back up again.

Agreed, should be able to make money either way.

[bitcoinissatan]

I read a news site here that the date change until 13 March
http://www.newsbtc.com/2017/02/06/sec-faces-march-11-deadline-bitcoin-etf-decision/