[2017-03-10] COIN ETF Denied, but Bitcoin Still Above $1000

[jholmes91]

The United States Securities and Exchange Commission (SEC) has denied an almost four-year old proposal for the first-ever bitcoin ETF. The whole bitcoin and cryptocurrency world sat on the edge of it's seat on March 10 waiting for the U.S. Securities and Exchange to make a decision on the Winklevoss twins' COIN ETF proposal...

Read more here:

https://btcmanager.com/coin-etf-denied-but-btc-usd-still-above-1000/

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[cr1776]

I'll look at the silver-lining: this gives "regular" people more time to invest and be involved prior to the large sums of institutional money moving in whenever COIN is approved.

[Idrisu]

The ETF approval trading panic has come and gone. What we need to do now is to add news or comment from America security and exchange commission to those news that does not move bitcoin price. We should focus on news from people bank of china because this is the major news that drives bitcoin price for now. Chinese hold over 75% of bitcoin is a reality from what happened yesterday.

[darkangel11]

The ETF approval trading panic has come and gone. What we need to do now is to add news or comment from America security and exchange commission to those news that does not move bitcoin price. We should focus on news from people bank of china because this is the major news that drives bitcoin price for now. Chinese hold over 75% of bitcoin is a reality from what happened yesterday.

That's because it wasn't the real panic, but a move by whales to induce fake panic by dumping at the right time. They were hoping to cause a chain reaction and trigger automatic sell orders, but nothing happened. The price went down by less than 10% and bounced back. I'm happy that people did not let ETF decide the future of bitcoin, but there will be another attempt, i'm sure of it.

[Valiance]

I'll look at the silver-lining: this gives "regular" people more time to invest and be involved prior to the large sums of institutional money moving in whenever COIN is approved.

I agree, Bitcoin shouldn't only be a dash for money, I think the hype this has created will be great for ordinary people.  Who knows, maybe it'll still be good for Bitcoin in the long term, because not everyone is a wealthy investor.