we had something very similar to this last year too. there was a period of time where ETF was getting hyped up a lot (it was Winkle bros ETF!) and we even had a rise and everyone was basically making the same prediction that with ETF= moon and without ETF= dump back to $900.
and you know what happened! SEC rejected their ETF and we saw a small drop then a couple of days later as the drama vanished we started seeing the rise begin again!
gotta remember though, the market was in a very, very different place at that time. look at what happened to altcoins when the ETF was rejected: they had a bubble. they rose astronomically against BTC for the next few months. then in august, BTC had its bubble. that shows that the market was in a state of hype and very strong demand throughout 2017, regardless of the ETF rejection.
but now? the bubbles ended and we're seeing the fallout. altcoins are fucking bearish. there's no way to assume any rise from here is anything more than a bounce in a bear market.
what i'm saying is this: bad news in a bull market means nothing. bad news in a bear market can be a great excuse for a sustained selloff, though.
