ETF not approved. Price drops by 300$ in 15mins

[jaideep1000]

News is out: http://www.theverge.com/2017/3/10/14883350/sec-bitcoin-etf-order-winklevoss-denied


Saw the drop happen myself. Pretty amazing. A 20% change in just 15 minutes.

As a day trader, for me now is the time to buy

What is everyone's opinion?

[polynesia]

News is out: http://www.theverge.com/2017/3/10/14883350/sec-bitcoin-etf-order-winklevoss-denied

Saw the drop happen myself. Pretty amazing. A 20% change in just 15 minutes.
As a day trader, for me now is the time to buy
What is everyone's opinion?

The price seems to have recovered smartly after that. Bitcoin is trading at $1130 now.
People expected it to drop to $800-$900 if the ETF got rejected. 

[chronicsky]

yeah that sucked!

ETF was supposed to be accepted with all the expectations they gave

Anyway! good time to buy? yeah , it will recover

[xskl0]

I though it was going to drop to 500$, good to know that the price still high

[zombijs]

Becasue ETF rejection doesn't mean anything bad. BU fork if it happens might destory price.

[bitcoinisbest]

Well yes but one good thing was that price rose quickly and dint went down or stabilized at 800 - 900 $ . Else people would have really lost a big amount. Now we will need to check if this price which is at around 1185 $ currently will it be able to sustain it.

[zahra4577]

I though it was going to drop to 500$, good to know that the price still high

Bitcoin getting more recognition and acceptence by day and people know just one good news can trigger the price too high and that has prevented panic selling.
I think after some corrections, price will again go up.

[lordquanta]

price is growing strong toward 1200$ again. ETF rejection was definitely low probability but expected correction is not observed yet. Market recovered pretty good.

[vaibhavsingh]

 
I wanted to buy some btc, looks like I'm late 
bitcoin has already increased back to normal and is at ~1200 $ right now 

[eaLiTy]

yeah that sucked!
ETF was supposed to be accepted with all the expectations they gave
Anyway! good time to buy? yeah , it will recover

I would like to differ in this stance because the chances for an approval by the SEC was really slim and it was true that the price raised citing that, but it is a common factor that the price would rise looking for a speculation and these sort of speculation is always driving the price of bitcoin and as expected we never saw a big correction which means we still find a new way for the price to increase.

[zahra4577]

I wanted to buy some btc, looks like I'm late 
bitcoin has already increased back to normal and is at ~1200 $ right now 

Even at that rate it is a good buy if you can hold them for a year.Bitcoin price is highly likely to reach $2k-$2.5k by the end of this year.

[lordquanta]

Price is back to the 1200$ plus zone. Seems correction may take some time to happen.

[Benson Samuel]

Coinsecure won't let me log in; keeps rejecting my OTP from mobile. Is it because of the increased volume from the price drop? Anyone else experiencing the same?

Nothing of the sort.
Can you message me with any error or you user ID pls.

[Weatherby]

Becasue ETF rejection doesn't mean anything bad. BU fork if it happens might destory price.

If it is given a good amount of thought and if it is done properly then it wont destroy the price of bitcoin. The developers have to come up with a solution for the problems we have with the delay in transaction. The rejection of ETF is not approved but it did not change anything and did not have any change in the price other than a slight slope but it recovered as fast as the slide.