Amazing bitcoin performance after the ETF

[cellard]

As expected, the price dumped when the ETF got rejected because people expected it to dump, so panic selling ensued. Nothing out of the ordinary. But I didn't expect the price to stay at $1100+ so easy and so quick.

This shows us how powerful bitcoin is in 2017 compared to 2013. Bitcoin is indeed maturing, this now feels like a solid, serious thing.

[Dafar]

It's a little too early to claim that victory, let's see what happens over the weekend and over the next week. While I'm hoping against it I think we'll see some bearish waves over the next few days, but doubt this is gonna be a trend reversal. I'm still expecting the bull run to resume, and a real rally sometime this year. We had a weak ass ATH of only 0.1% above previous ATH, or 1% if you count today lol... it could be a testament of bitcoin maturing but we are not in bubble territory so it doesn't make sense to me to reverse into a significant or extended bear market. If there are no significant dips and we stay around $1100-$1200, then wow, I think a mega rally is going to be a near reality

[micky123]

As expected, the price dumped when the ETF got rejected because people expected it to dump, so panic selling ensued. Nothing out of the ordinary. But I didn't expect the price to stay at $1100+ so easy and so quick.

This shows us how powerful bitcoin is in 2017 compared to 2013. Bitcoin is indeed maturing, this now feels like a solid, serious thing.

I feel that bitcoin held its own quite well, i really expected a dump all the way to $700 - 800 levels considering the volatility surrounding it, that it didn't, speaks to the maturity level of Bitcoin imo. Of course we have to wait for the weekend and see how it goes, but considering the general trend with Bitcoin and crypto-currencies in general, big news like this used to cause shock-waves and the results were immediate for all to see. I really hope we have moved past that stage and will see a stronger Bitcoin going forward.

[NUFCrichard]

Well I don't think that the ETF would have been good for bitcoin long term anyway.
I am surprised that the price hasn't really dumped though. It looks like the rejection was basically priced into the market.

A more worrying thing for Bitcoin is if you look at the reasoning of the SEC for the rejection. There are plenty are problems wih Bitcoin, and they don't get into he block size!

[cellard]

It's a little too early to claim that victory, let's see what happens over the weekend and over the next week. While I'm hoping against it I think we'll see some bearish waves over the next few days, but doubt this is gonna be a trend reversal. I'm still expecting the bull run to resume, and a real rally sometime this year. We had a weak ass ATH of only 0.1% above previous ATH, or 1% if you count today lol... it could be a testament of bitcoin maturing but we are not in bubble territory so it doesn't make sense to me to reverse into a significant or extended bear market. If there are no significant dips and we stay around $1100-$1200, then wow, I think a mega rally is going to be a near reality

Well of course a bear sentiment can happen monday if the markets react that way, but I think it was better than expect. I expected it go keep going down in waves without no resistance on the way down, just small stops.

I think it's insane to considering selling now. What if there is indeed a mega rally ahead?

[European Central Bank]

this is a prime case of come back in a week and see what happens. it's clear that a lot of people were expecting it to happen. maybe they're considering their options right now.

[~Bitcoin~]

Price seems already recovering and trying to stay well above $1200 range by end of weekend. Next week we may see new bullish trend and i am expecting price to touch $1300 within next few weeks.

[cpfreeplz]

I was very surprised to see that most of the money I lost yesterday was recouped. Bitcoins have a lot stronger backing of people that don't care about the ETF. We're at the true value right now.

[chaser15]

As expected, the price dumped when the ETF got rejected because people expected it to dump, so panic selling ensued. Nothing out of the ordinary. But I didn't expect the price to stay at $1100+ so easy and so quick.

This shows us how powerful bitcoin is in 2017 compared to 2013. Bitcoin is indeed maturing, this now feels like a solid, serious thing.

People also that if SEC will rejected the ETF the price will even go down to at leat $500 to $700. They feel like bitcoin is still heavily manipulated like days before where number of whales are few in numbers if I will based to my own thinking.

The recovery after the price crash doesn't take too much long meaning many set their buy walls at around $1,000 to take advantage of the expected price dip once the ETH have been dissapprove.

[FiendCoin]

As expected, the price dumped when the ETF got rejected because people expected it to dump, so panic selling ensued. Nothing out of the ordinary. But I didn't expect the price to stay at $1100+ so easy and so quick.

This shows us how powerful bitcoin is in 2017 compared to 2013. Bitcoin is indeed maturing, this now feels like a solid, serious thing.

People also that if SEC will rejected the ETF the price will even go down to at leat $500 to $700. They feel like bitcoin is still heavily manipulated like days before where number of whales are few in numbers if I will based to my own thinking.

The recovery after the price crash doesn't take too much long meaning many set their buy walls at around $1,000 to take advantage of the expected price dip once the ETH have been dissapprove.

I still can't believe this is the worst or it. There must be a down trend in the near future, if not people are going to have to really reevaluate their charts and analysis's.

[Denker]

As expected, the price dumped when the ETF got rejected because people expected it to dump, so panic selling ensued. Nothing out of the ordinary. But I didn't expect the price to stay at $1100+ so easy and so quick.

This shows us how powerful bitcoin is in 2017 compared to 2013. Bitcoin is indeed maturing, this now feels like a solid, serious thing.

I can understand you in a way. But let's wait and see what's going to happen the next few days.This might not be over.
In terms of the of the drop ,that wasn't that bad as expected, and the quick bounce please keep in mind that there was an incredible short squeeze before, which closed lots of leveraged positions.
I have a bit the feeling somebody did this to prevent us from a massive drop after the ETF rejection. But that's just my personal opinion and could be totally bullshit.

[Biodom]

It's a little too early to claim that victory, let's see what happens over the weekend and over the next week. While I'm hoping against it I think we'll see some bearish waves over the next few days, but doubt this is gonna be a trend reversal. I'm still expecting the bull run to resume, and a real rally sometime this year. We had a weak ass ATH of only 0.1% above previous ATH, or 1% if you count today lol... it could be a testament of bitcoin maturing but we are not in bubble territory so it doesn't make sense to me to reverse into a significant or extended bear market. If there are no significant dips and we stay around $1100-$1200, then wow, I think a mega rally is going to be a near reality

interestingly, we are currently getting mega rallies in alts.
we shall see if any of them might challenge king bitcoin.
My expectation is that they will not get more than 30% of btc market cap.

[infofront]

It looks like the ETF denial was baked into the cake already.

[LittleBitFunny]

It looks like the ETF denial was baked into the cake already.

True, the SEC was very clear about their reasons and I don't think this is something that could just change in the foreseeable future. 

To be honest, I'm quite surprised that seemingly a majority of people didn't realise this.  I think that it might even show a kind of facade of positivity that some Bitcoin users put up.  To truly support something, I think you need to recognise its downfalls, and I think it was fairly clear that the Bitcoin ETF would not comply with their conditions - this is something that a lot of people needed to accept.

I think Bitcoin is definitely looking up.  This was a major event which people really cared about, and there was still only a minor drop.  This could show that Bitcoin's days of extreme dumps are slowly coming to an end. 

The fact that the drop was minor could also have a darker side though: maybe so many people are hoarding Bitcoin because of its price increases that they just don't care about these events, expecting it to go up?  Many people aren't using Bitcoin as a currency when they buy it.  I think that's a bad thing because that limits Bitcoin to only an investment, which essentially means that it's nothing, just a giant collection of investors raising the price as far as it'll go without meaning anything.

[hase0278]

Its kinda good that bitcoin is really holding its prices to 1100$+ after the ETF has been rejected by SEC. I think it is to early to say that it won't go down lower than that so let's see what really will happen in the next few weeks or days. When price ranges is still 1100$+, I think it really hold it in that price ranges and it really matured unlike 2013. At first I thought history would repeat itself but let's see, we can't jump to conclusions yet.

[n0ne]

The price after etf is found quite interesting because experts put forth statement that price fall big if etf is rejected. Now even on rejection the price is quite stable and moving forward. This shows how strong bitcoin is, and believe the price increases high to overcome the past ATH.

[RoommateAgreement]

i completely expected this.
it is pretty simple, ETF had no real effect whatsoever on bitcoin. and it was all hype. and what hype does is that if it comes true it temporarily pumps and then drops and it if doesn't come true it causes a temporary drop and then rises again. and the second thing happened here, as simple as that.

and it surprises me that even after this process happening a million times before, people still fall for it.

[BitcoinNewsMagazine]

As expected, the price dumped when the ETF got rejected because people expected it to dump, so panic selling ensued. Nothing out of the ordinary. But I didn't expect the price to stay at $1100+ so easy and so quick.

This shows us how powerful bitcoin is in 2017 compared to 2013. Bitcoin is indeed maturing, this now feels like a solid, serious thing.

I feel that bitcoin held its own quite well, i really expected a dump all the way to $700 - 800 levels considering the volatility surrounding it, that it didn't, speaks to the maturity level of Bitcoin imo. Of course we have to wait for the weekend and see how it goes, but considering the general trend with Bitcoin and crypto-currencies in general, big news like this used to cause shock-waves and the results were immediate for all to see. I really hope we have moved past that stage and will see a stronger Bitcoin going forward.

The Elliott Wave crowd are predicting an ABC correction down to $800 -$900. If price holds above $1000 they will have to go back to the charts and come up with an alternate wave count.

[X-ray]

As expected, the price dumped when the ETF got rejected because people expected it to dump, so panic selling ensued. Nothing out of the ordinary. But I didn't expect the price to stay at $1100+ so easy and so quick.

This shows us how powerful bitcoin is in 2017 compared to 2013. Bitcoin is indeed maturing, this now feels like a solid, serious thing.

PBOC makes it different with the current situation, because there is no manipulation by the chinese exchange and i really like the PBOC had done its decision because it makes the price of bitcoin is really strong right now, and we can always increase more and more in the future. Good job for PBOC. 

[Shinpako09]

Its not what im expecting too after the decision. The price have recover fast and the price movement is calm now. Unlike this past few days its really shaky.