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aoluain
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July 25, 2018, 01:04:45 PM |
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Someone here on the forum had mentioned that it could be delayed and if I remember right this also happened last year, there was a delay then also.
I also think it is good for the markets as it gives more time for them to grow and for more people to speculate.
Personally im not sure why they would need another 8 weeks to make a decision and i recon it will be approved anyway,
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dothebeats
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July 25, 2018, 01:07:43 PM |
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Prolonging the decision opens more room for speculation, market movement, analysis etc., only for the ETF to be turned down again and cause the build up of the price to end in a grimly manner. While I like that they are trying to get some more time to think and reconsider all things that an ETF might bring, I'm quite anxious as to whether they'll really approve it or not. We've been through several ETF talks and none of them really materialized, so it might be the same scenario, just prolonging the anticipation of people and make the deep pockets profit from the hype.
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bitfocus
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July 25, 2018, 01:14:30 PM |
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maybe they will delay it again just as they are delaying it since 2017
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DaveWave
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CryptoTalk.Org - Get Paid for every Post!
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July 25, 2018, 01:15:57 PM |
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I think SEC will finally approve bitcoin ETF this year. Some well known companies already entered and more are willing and SEC will see it. I think it is more on big companies in the US willing to consider bitcoin.
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fudster
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July 25, 2018, 01:22:05 PM |
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I saw some hilarious comments there lol
Seeing those comments I guess the SEC might move the dates again to may til December of this year due to these comments. You wouldn't thought those users have actually acquired bitcoin for themselves with such logic in theirs. If maybe those who have the right judgments and those who really knows who all these ETF works and bitcoin users can be at one page and agree to something that will convince the authorities.
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3acaga
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July 25, 2018, 01:24:20 PM |
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Once again, an attempt is made by the opponents of bitcoin to put the poles in the wheels of the cryptual currency that is already flying at all pairs of the train. My opinion is that this pause in 8 weeks only strengthened the position of bitcoin.
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hemendrachauhan19 (OP)
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Activity: 181
Merit: 13
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July 25, 2018, 01:28:31 PM |
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Prolonging the decision opens more room for speculation, market movement, analysis etc., only for the ETF to be turned down again and cause the build up of the price to end in a grimly manner. While I like that they are trying to get some more time to think and reconsider all things that an ETF might bring, I'm quite anxious as to whether they'll really approve it or not. We've been through several ETF talks and none of them really materialized, so it might be the same scenario, just prolonging the anticipation of people and make the deep pockets profit from the hype.
Yes right, for the past as well these news becomes the profit makers for the big players or market movers. This is the first time though they asked for public opinions and posted the comments as it is. I like that they're trying to be more open and transparent with there this time. This news will give a breather to altcoins which were bleeding because of BTC's run on the upside, as well as BTC too will get stabilized around 8k now as it's already trading with 4,6,12hrs and daily RSI above of 70, which happened only in dec-jan bull run. Let's see how this ETF drama pans out in the end, hoping for the best like all others
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hemendrachauhan19 (OP)
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July 25, 2018, 01:31:02 PM |
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Once again, an attempt is made by the opponents of bitcoin to put the poles in the wheels of the cryptual currency that is already flying at all pairs of the train. My opinion is that this pause in 8 weeks only strengthened the position of bitcoin.
Yeah, that's what I think too. BTC already at higher side of RSI, so it needed bit of breathing before another bull run, but because of this ETF news going to come on 10th aug, it wasn't getting that breathing space. Now it can stabilize around 8k for a week or so and start another bull run.
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btc_angela
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July 25, 2018, 01:40:16 PM |
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We all were eagerly waiting for 10th august to know the SEC's decision. Now we have to wait a bit more to know that https://www.coindesk.com/sec-delays-decision-on-direxions-bitcoin-etfs-until-september/Personally I think it's good for the market and also it shows that SEC members are thinking a bit more before coming to any decision. Since the proposal asked for the wider public comments, 100's of comments have been made on there proposal and needless to say mostly in favor of supporting the ETF approval move. Also it keeps the hope alive among the investors and crypto world people. But it doesn't include the CBoE Bitcoin ETF application isn't it? They only delay is the Direxions so the Aug 10 is still on scheduled unless they postponed it as well. The most critical ETF application is CBoE, all eyes are watching because its going to make ror break the ecosystem. This delay with Direxions applications will be moot when the CBoE decision is given out in Aug 10.
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Silenox
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July 25, 2018, 01:58:05 PM |
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This is the biggest reason for a rise this year, we can have a new price level in the case of approval, FOMO has already begun, and if approved, should exceed 10k and have strong support in this area.
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hemendrachauhan19 (OP)
Member
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Activity: 181
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July 25, 2018, 03:05:51 PM |
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We all were eagerly waiting for 10th august to know the SEC's decision. Now we have to wait a bit more to know that https://www.coindesk.com/sec-delays-decision-on-direxions-bitcoin-etfs-until-september/Personally I think it's good for the market and also it shows that SEC members are thinking a bit more before coming to any decision. Since the proposal asked for the wider public comments, 100's of comments have been made on there proposal and needless to say mostly in favor of supporting the ETF approval move. Also it keeps the hope alive among the investors and crypto world people. But it doesn't include the CBoE Bitcoin ETF application isn't it? They only delay is the Direxions so the Aug 10 is still on scheduled unless they postponed it as well. The most critical ETF application is CBoE, all eyes are watching because its going to make ror break the ecosystem. This delay with Direxions applications will be moot when the CBoE decision is given out in Aug 10. Yes correct, I have updated the same in the original post too. Let's see if it will stay as per schedule or get postponed too.
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hemendrachauhan19 (OP)
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July 25, 2018, 03:07:47 PM |
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This is the biggest reason for a rise this year, we can have a new price level in the case of approval, FOMO has already begun, and if approved, should exceed 10k and have strong support in this area.
FOMO is clearly there, even though BTC having RSI well above 70 for 2,4,6,12hrs and daily, still people buying it and not letting it consolidate. For BTC to start another bull run, we need RSI to be under 60 for couple of days atleast.
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elncrow
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July 28, 2018, 06:03:04 AM |
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This delay is actually kind of a good thing because it will give the team and the project to be more mature and will be able to fix all the errors.
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BitcoinHodler
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July 28, 2018, 06:06:36 AM |
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i wish the ETF news weren't as hyped up as it is these days. things like this never end well no matter the result of the decision. for example back in the times of block halving we had similar hype and price went up a lot and when the halving happened we had a correction and a rather long period of nothingness!
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Holding Bitcoin More Every Day
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donhill
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July 28, 2018, 01:01:11 PM |
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The delay is affecting the market in a positive way, the more delay the more hype and interest created, which has a chance to lure in possible investors. People, who get interested can invest further, during this deya time, which will bring more positive outcome for the project as a whole.
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hemendrachauhan19 (OP)
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July 28, 2018, 01:16:35 PM |
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This delay is actually kind of a good thing because it will give the team and the project to be more mature and will be able to fix all the errors.
Sorry? What project are you talking about? Bitcoin ETF is not another project, if that's what you're thinking.
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hemendrachauhan19 (OP)
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July 28, 2018, 01:19:02 PM |
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The delay is affecting the market in a positive way, the more delay the more hype and interest created, which has a chance to lure in possible investors. People, who get interested can invest further, during this deya time, which will bring more positive outcome for the project as a whole.
But these investors will vanish as soon as any negative news comes. First instance already visible, BTC drops from 8300 to 7800 as soon as news comes that ETF application by Winklevoss brothers have been rejected by SEC, and this happens within couple of hours.
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scooby_doo23955
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July 30, 2018, 10:53:40 AM |
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I hope SEC will accept bitcoins ETFs as soon as possible because almost 90% comments review positive with ETF. No matter SEC take time if it accept ETF.
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CanineDanny
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July 30, 2018, 11:06:52 AM |
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