SEC Decision Rejects BTC ETF

[Minecache]

Well kindly gentlemen, May is almost over and the SEC have yet to rule as they said they would, by the end of May. So, with that in ones mind, what does one think the effect on the BTC price will be when it comes back (as it most certainly will) negatively.

Opines please.

[2double0]

Even if they have decided back to take no such interest in Bitcoin's value as well as such a liquid market having huge potential to go broader, then it seems they have no such guts to accept that they are illiterate to understand the facts of bitcoins, and the values that we are witnessing might be due to correction and may get back to 3k.

[XbladeX]

Well kindly gentlemen, May is almost over and the SEC have yet to rule as they said they would, by the end of May. So, with that in ones mind, what does one think the effect on the BTC price will be when it comes back (as it most certainly will) negatively.

Opines please.

All thinking people here arround know that is impossible for them to aproove becose most reason was that BTC is unregualted today in US so they can not promot something that is under any control.
Next thing is that for BIG money BTC have to low volumes last time it jumped bu how log it will survive ?

[Nagadota]

Effect on the price:  zero, or about $50 at most.

It's okay anyway.  The territory we're in now, nearly no amount of price movement has any fundamental reason.  That rise to $2700 was for nearly no reason and this drop to $2200 is for no reason.

Hardly anyone is getting their hopes up this time.

[coolcoinz]

We were talking about it last week and the majority expected the ETF to be rejected. It was never going to happen, because nothing has changed. They said why it was rejected the first time and until something is done to address that the decision will always be negative, but do we really need ETF? I say no, the rich investors need it, the rest of us will be unaffected whether it gets the seal of approval or not.

[XbladeX]

***but do we really need ETF? I say no, the rich investors need it,***

no becouse hen you look how they trade is ridiciulus...
they will sell 200m BTC in one shot ... or buy 100m future contract in one day
whole stuff  on those ETFs is ridiculous : ) and abstract it will be BTC(ETF) coin that will be disconnected from BTC.
Same is with silver/gold. Try sell somewhere 2yers production of metals in one day... and do it 20 x in row.
This is ETF trading

[jjc3326]

Maybe that is why the price is crashing, someone knows it will be rejected.  I think it crashed last time with the last SEC decision.  (Of course, it came back and then some.)

[chaser15]

Well kindly gentlemen, May is almost over and the SEC have yet to rule as they said they would, by the end of May. So, with that in ones mind, what does one think the effect on the BTC price will be when it comes back (as it most certainly will) negatively.

Opines please.

We are used to bitcoin being rejected by the SEC so it's not a big deal if it's always like that, so be it as others saying. But if approved, that a big thing since surely it will bring positive looks at the bitcoin. So for me, I really don't mind if rejection will happened many times.

Just look at how bitcoin it is today (disregarding the slow confirmation time) without that ETF approval. Still can move forward even without that thing.

[asdalani]

Well kindly gentlemen, May is almost over and the SEC have yet to rule as they said they would, by the end of May. So, with that in ones mind, what does one think the effect on the BTC price will be when it comes back (as it most certainly will) negatively.

Opines please.

We are used to bitcoin being rejected by the SEC so it's not a big deal if it's always like that, so be it as others saying. But if approved, that a big thing since surely it will bring positive looks at the bitcoin. So for me, I really don't mind if rejection will happened many times.

Just look at how bitcoin it is today (disregarding the slow confirmation time) without that ETF approval. Still can move forward even without that thing.

Bitcoin does not need the SEC to approve the Bitcoin ETF. If someone wanted to purchase Bitcoin then they could just purchase Bitcoins through LocalBitcoins or something. The SEC approval would look good on paper though, that would be a plus for Bitcoin.

The price may crash for now, though I feel that Bitcoin will go up in value long-term.

[pixie85]

Well kindly gentlemen, May is almost over and the SEC have yet to rule as they said they would, by the end of May. So, with that in ones mind, what does one think the effect on the BTC price will be when it comes back (as it most certainly will) negatively.

Opines please.

We are used to bitcoin being rejected by the SEC so it's not a big deal if it's always like that, so be it as others saying. But if approved, that a big thing since surely it will bring positive looks at the bitcoin. So for me, I really don't mind if rejection will happened many times.

Just look at how bitcoin it is today (disregarding the slow confirmation time) without that ETF approval. Still can move forward even without that thing.

It won't get approved, it's impossible for now, because the SEC needs a body that can be held responsible under law for manipulation, breaking laws and similar stuff.
Bitcoin has no issuer, noone that can be turned into a scapegoat if something goes wrong. It works on its own and there are no laws in place to govern a fund that appeared from nowhere, is run by noone and if it dies, there will be noone to blame. There will be no ETF, forget it and move on.

[freequant]

Who still gives a damn about SEC. They are becoming increasingly irrelevant. Investment funds have started investing in crypto regardless.

[Yakamoto]

Well kindly gentlemen, May is almost over and the SEC have yet to rule as they said they would, by the end of May. So, with that in ones mind, what does one think the effect on the BTC price will be when it comes back (as it most certainly will) negatively.

Opines please.

Chances are they're sitting on it for a little while but it is almost certain that they're going to seek to reject it. I won't even be surprised if that happens considering it has been the same response over and over and over again from the SEC regarding this form of ETF. I don't even think it is worth speculating about these days since there are very few scenarios where it is even believable to see something like the ETF being accepted.

I hope I'm wrong, but I doubt it to be honest.

[European Central Bank]

a no is inevitable and i don't think anyone will pay any attention to it. someone might use it as a chance to dump. i doubt many will take them up on the offer.