COIN ETF denied by SEC

[BitcoinBarrel]

As discussed furtherbelow, the Commission is disapproving this proposed rule change
because it does not find the proposal to be consistent with Section 6(b)(5) of the Exchange Act,
which requires, among other things, that the rules of a national securities exchange be designed
to prevent fraudulent and manipulative acts and practices and to protect investors and the public
interest.

https://www.sec.gov/rules/sro/batsbzx/2017/34-80206.pdf

[proudhon]

And thus we see the bitcoin price was significantly dependent on...the US SEC. Hope everyone is enjoying what remains of their SECOINS.

[BitcoinBarrel]

It will rebound people were ready to dump and make a small profit.

[Dakustaking76]

And its going down guys

[FiendCoin]

It will rebound people were ready to dump and make a small profit.

I guess we'll see where this ends in a few days and if it will trigger a bear market.

[alyssa85]

I think they felt there was too much market manipulation. Hope people took profits in the last few days...

[richardsNY]

It's very weird, one moment it would be announced on March 11, and the other moment it's said to be announced on March 13. Either way, it's good that we at least know the result right now. It will make it clear at what levels the price will settle at. If the price bounces back to $1200 (which it eventually will anyway) then we at least don't have any hypes that drive the price. It would be purely the demand.

[PrymeTyme]

iam going all in

[spazzdla]

And its going down guys

I am thinking we go to $700 then back upwards.

This bull run is not over.

The world economic system is still completely fucked and will fail hard..

[leowonderful]

And its going down guys

I am thinking we go to $700 then back upwards.

This bull run is not over.

The world economic system is still completely fucked and will fail hard..

I don't even think we'll hit 700, people are being overly dramatic about this and even though the price was being inflated by the SEC there's still buyers out there, I suspect 950-1000 is the bottom and we'll get back up to 1100. Even with that 3-minute 300 dollar crash, we're still bouncing around, HODLers keep your seatbelts on!

[btcmerich]

right, so what this means is . Every bitcoin holder should be able to identify Him/her self . So i guess we will not have SEC approve any digital currency. we do not need SEC. ... it seems it is holding very well despite the Drama

[2017Bubble]

Is it official? Evidence?

[Denker]

And thus we see the bitcoin price was significantly dependent on...the US SEC. Hope everyone is enjoying what remains of their SECOINS.

Really? Why?
Because today the chart is playing ping-pong?
One more reason it's a good decision to reject the ETF by the SEC.
Let the crazy traders play now and wait until the storm is over.
Then I'm sure we will be close to 1000 or above.
So no reason to freak out or to see things worse as they really are.
We all here knew what would happen when the ETF gets rejected.

[BitHodler]

After a few days when the markets calm down we will see how much the price was driven by ETF approval speculation. I personally thought it wouldn't drop under $1000 but it did.

At least this is another opportunity before the price climbs back up again. People were eagerly waiting for such a dump, now here it is. Put your money to work and start buying up these discount coins!

[PrymeTyme]

As discussed furtherbelow, the Commission is disapproving this proposed rule change
because it does not find the proposal to be consistent with Section 6(b)(5) of the Exchange Act,
which requires, among other things, that the rules of a national securities exchange be designed
to prevent fraudulent and manipulative acts and practices and to protect investors and the public
interest.

https://www.sec.gov/rules/sro/batsbzx/2017/34-80206.pdf

if that is the reason then , the whole stock market should be denied and closed.. oh and of course the allmighty dollar aswell.. shmucks!

[weilichesbin]

After a few days when the markets calm down we will see how much the price was driven by ETF approval speculation. I personally thought it wouldn't drop under $1000 but it did.

At least this is another opportunity before the price climbs back up again. People were eagerly waiting for such a dump, now here it is. Put your money to work and start buying up these discount coins!

I think it goes under 700

[FiendCoin]

Now that is is over with, we can move on to scaling.

[swogerino]

Another three year wait is upon us.

[alyssa85]

After a few days when the markets calm down we will see how much the price was driven by ETF approval speculation. I personally thought it wouldn't drop under $1000 but it did.

Almost all of it was ETF speculation - prices don't rise by 30% in a month just like that.

Given the fundamental reasons they gave for refusing the ETF (manipulated exchanges), it is pretty clear that the other two ETFs won't be approved either.

[kwukduck]

Byebye $1000 until never.