Is it most to approve Bitcoin ETF before bitcoin price increase

[Salauusman]

I have been thinking of it few days ago, when everyone in cryptocurrency space based bitcoin this year bullish market on ETF, but let me ask us what if SEC didn't approve ETF. Can not move the price without it.. I need your discussion on this.

[MadGamer]

If the ETF doesn't get approved, we may see a price decrease but the only reason for that is that people pay too much attention for this kind of events even though they're not that important.

For the long term though, nothing except the active development will bring bitcoin to a higher price.

[CrazyBTC7800]

I believe that Sec Bitcoin ETF approval will be very encouraging. ETF gets Bitcoin's price higher than before. People's interest will increase with the addition of Bitcoin Trust to the present. Bitcoin's future is bright.

[CryptoRaymond]

BTC market is not fully dependent on the market thus it is mostly dependent on market nature. ETF hype created an influence in market price as many people paid attention to the news. But this problem has been overcome in the market and another ETF declining will be overcome also. BTC price will rise in slow by the end of the year.

[djcounter]

Regardless of ETF, I think the price of bitcoin plays between $6,000 and $10,000 until a huge news appears.

[WindowsRepuX]

I think bitcoin price do not depend on EFT. But the price decrease when EFT is not approve. So it easilt show that some investor did’t have knowledge so they sale their coin. Very soon price will rise and I believeend of the year the its more than 15000 dollar.

[bitfocus]

I dont think the SEC will approve ETF soon, but I always remain hopeful.

[bitcoindigger71]

There may be a decrease in price if it does not get approved,which is of grave concern. But this has led to this because the people are giving unnecessary attention to this piece of news.

[cryptorampage963]

If Etf gets rejected by then we can see a price decrease due to the fear of the investors and inability to interpret the results in a calm mind. But within few days, they will understand the situation and the price will rise again.

[Luckycoins999]

There should not be a link between the approval and the BTC, these are not interrelated directly, but we are still doing it. It needs to get approved otherwise sadly the price will go down. And we really can't afford another dip now.

[Al-e_x]

we already know the results, that when the SEC rejected the bitcoin ETF, the bitcoin market dropped again.

Bitcoin ETFs might help the market to create bullish conditions, but volatility values are always moving on their own, controlled by every trader.

but at least if the SEC receives a bitcoin ETF, the market will not experience an extreme correction.

[jpnl0003]

it does not necessarily mean that the totality of agencies or even the ETF must approve of the bitcoin currency before the price appreciates but then their approval just gives a degree of confidence in the currency and those that are considering investing in it.

[sidneycrypto6]

ETF approval will again lever the demand for Bitcoin upwards, making it even more assured to security measures then it already is. The hash rates of Bitcoin is also huge, which shows more potentiality of it growing further, as the mining is very impressive as of current situation. Henceforth, Bitcoin is growing at its most stable and consistent rate ever, and bringing in a possibility of bull run gradually.

[pooya87]

the answer is simple if you look at the small but long enough history of bitcoin.
did we have ETFs or SEC or Government or banks approval in the past 9 years of bitcoin that price has been rising?
you see bitcoin was created so that we don't even need any of them but unfortunately it seems like in the past couple of months thanks to ETF hype everyone has forgotten that and are starting to look to SEC to tell them what to do. it is like some people are begging for centralization to enter this world!

[bman01]

The denial of ETF will definitely see a short term reduction in price but there are more good news lined up for the future, currently the hash rate of bitcoin is at an all time high which indicates that because of the miners the demand for bitcoin will increase again. Moreover, there will be some more Bitcoin ETF hearings in the future which will also play their part in making the price go high.

[zxrcoin]

SEC approving bitcoin ETF is not a must for Bitcoin to grow as Bitcoin will find its way through mining, legalizing and solving problems all over the world. But, having accepted by SEC as an ETF will definitely increase it's credibility, demand and the chance of manipulation which is greatly required in the current market.

[BrewMaster]

If the ETF doesn't get approved, we may see a price decrease but the only reason for that is that people pay too much attention for this kind of events even though they're not that important.

For the long term though, nothing except the active development will bring bitcoin to a higher price.

We will see a run up leading to it just like we did previously, we now know we only need one more sec commissioner to get on board to have it be a 2v2 call though. The next ETF is more likely based off who is filling is the rumor right now.

but the real question which OP is also asking here is whether we even need ETF for the rise or let me add one more: should we even care about ETF?

i'd say ETF is more damaging to bitcoin than it can do good for it. and maybe it is time to stop waiting for it and go back to the way things were before meaning everyone focusing on decentralization and adoption of bitcoin while showing the middle finger to all the centralized entities including SEC.

[JasonRosado]

I don't think ETF approval is must for the BTC price to increase but it will definitely have a positive effect on the market and if bitcoin ETF gets approved, we might even see Bitcoin surpassing the last year's market cap of 20,000$ easily. Since the last ETF hearing hype has made Bitcoin to break so many barriers, it will affect the price in a positive way.

[goldkingcoiner]

I don't think ETF approval is must for the BTC price to increase but it will definitely have a positive effect on the market and if bitcoin ETF gets approved, we might even see Bitcoin surpassing the last year's market cap of 20,000$ easily. Since the last ETF hearing hype has made Bitcoin to break so many barriers, it will affect the price in a positive way.

ETF approval is not a must but it would be a definite spike in the rise of the bitcoin price. If we get it approved I can guarantee a decent rise to at least 10k before november. But thats all in the cards now. What with the unnecessary refusals.

[OffGrid54]

I think SEC accepting Bitcoin will bring more people to in the crypto field to invest on Bitcoin. It would be definitely a good step if it gets accepted but even if it doesn't Bitcoin will suffice, because recent studies show Bitcoin mining has started again with twice the intensity which will cause a upsurge of demand in the coming future.