[2017-03-11] Bitcoin Price on Quick Rebound After ETF Dive

[TwoTimes]

On March 10 after the closing of the New York Stock Exchange, the Securities and Exchange Commission (SEC) rejected the rule change for the Bitcoin ETF due to regulatory concerns. Following the announcement, the price per bitcoin dropped to a low of US$1,020. The price has since rebounded to $1,180 mark at the time of writing.

“We expect a substantial decrease in volatility going forward, both in selling and buying BTC. Most of the run upwards from the $750 level was powered by rumors and speculation surrounding the Coin ETF,” Petar Zivkovski of Whaleclub told Bitcoin.com.

Read More Here: https://news.bitcoin.com/bitcoin-price-on-quick-rebound-after-etf-dive/

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[veleten]

so far from truth,the price rebounded and bitcoin is stronger than ever
ETF had no significant impact on the market,its influence has been overrated in general
too much hype surrounding a pretty much recurrent event  (there have been several attempts by Winklewoss brothers)

[darkangel11]

Life goes on. ETF was just one of many attempts to make money off bitcoin on a larger scale.
The twins are already thinking of pushing it through again, investors are thinking of new investments, traders are trading like normal. I'd compare it to hitting a brick wall with a hammer. This time there was no crack, but our hammer didn't suffer any damage either. Finally after some more hammering there will be cracks and the wall will break, it just takes time and effort.

[richardsNY]

so far from truth,the price rebounded and bitcoin is stronger than ever
ETF had no significant impact on the market,its influence has been overrated in general
too much hype surrounding a pretty much recurrent event  (there have been several attempts by Winklewoss brothers)

Everything they do is obviously in their own interest, but that doesn't mean we can't benefit from their developments as well. That's why I somewhat have respect for what they do, or at least attempt to do. While many people don't see much added value when it comes to this ETF, it would have been a welcome tool that would attract institutional investors to allocate a few percent of their portfolio purely for an investment in this ETF.