What is affect of SEC's decision with Bitcoin and crypto market?

[minhnguyenqh8395]

The U.S. Securities and Exchange Commission (SEC) has delayed making a decision on whether to approve five bitcoin-related exchange-traded funds (ETFs) until September, public documents reveal on Tuesday.
Immediately, Bitcoin price fall down 8%.
Anyone can tell me exactly what is affect of SEC's decision with Bitcoin and crypto market?

[BrewMaster]

well the effect is what you just saw and mentioned here! a drop in bitcoin price about 7-8% followed by the altcoin massacre where they each dropped at least 10% and some even up to 20% drops.

it is hard to say what is going to happen when they actually reject ETF in  about a month from now because we have already had the drops and also from what i can see the market expects the rejection despite all the hype so everyone is waiting for that date to come so that they can start buying so we may not even see a big drop.

[audaciousbeing]

well the effect is what you just saw and mentioned here! a drop in bitcoin price about 7-8% followed by the altcoin massacre where they each dropped at least 10% and some even up to 20% drops.

it is hard to say what is going to happen when they actually reject ETF in  about a month from now because we have already had the drops and also from what i can see the market expects the rejection despite all the hype so everyone is waiting for that date to come so that they can start buying so we may not even see a big drop.

I think its good that the price fell now even though the news about the postponement I have since sometimes last week maybe its just getting popular that people are only reacting to it. The reason why I said its good is because people are fond of reacting to perceived issues rather than the issue itself. Sometimes last year, when the news filtered about bitcoin being banned the market react badly that when the ban eventually happen, it was as if bitcoin price at the time has developed thick skin. The same thing happen during the time of the first forked coin and there was so much uncertainty about what will happen to bitcoin then price dropped only not fall again when the real fork happened. Eventually it will turn our well when the decision is made. Price will increase if its positive and would drop a little bit or non at all if its rejected for us to start looking out for another ETF decision.

[cryptowolfsu]

The effect of the SEC is the bloodbath we could see today. The market price is highly effected with the speculation
on SEC decision. They postponed it and it can happen in September as well . I also think that this market is not prepared
for ETF yet and needs time to evolve. In that aspect this is a good news in fact.

[minhnguyenqh8395]

huh, so if when end of December come, we will see the future of Crypto market? I so confused if SEC reject ETF, what will happen? We will see Big dump, or market will come back the start again?

[xminerx]

well the effect is what you just saw and mentioned here! a drop in bitcoin price about 7-8% followed by the altcoin massacre where they each dropped at least 10% and some even up to 20% drops.

it is hard to say what is going to happen when they actually reject ETF in  about a month from now because we have already had the drops and also from what i can see the market expects the rejection despite all the hype so everyone is waiting for that date to come so that they can start buying so we may not even see a big drop.

Sounds a bit to optimistic to me, but I would be relieved if we do not see another bloodbath soon and hope next time the market will react less strongly. Everyone hopes for a positive decision and the market really needs it desperately.

[BrewMaster]

well the effect is what you just saw and mentioned here! a drop in bitcoin price about 7-8% followed by the altcoin massacre where they each dropped at least 10% and some even up to 20% drops.

it is hard to say what is going to happen when they actually reject ETF in  about a month from now because we have already had the drops and also from what i can see the market expects the rejection despite all the hype so everyone is waiting for that date to come so that they can start buying so we may not even see a big drop.

Sounds a bit to optimistic to me, but I would be relieved if we do not see another bloodbath soon and hope next time the market will react less strongly. Everyone hopes for a positive decision and the market really needs it desperately.

yes it is a bit optimistic but for good reasons (in my opinion at least).
usually these drops like this are  caused by weaker hands. also as everyone sells now they come into money. that money doesn't just go away. most of them sold in order to wait for a certain lower price level to buy back and that lower level is the previous bottom $6k for majority of them. so we may not see a "bloodbath" to begin with and this time the bounce back can be stronger because there wouldn't be any threat of ETF rejection on the way.

[Drobek]

huh, so if when end of December come, we will see the future of Crypto market? I so confused if SEC reject ETF, what will happen? We will see Big dump, or market will come back the start again?

We'll definitely see a dump if ETF is rejected by SEC but Btc will recover slowly tho and the bull season might set back a little. I hope ETF gets approved but its not likely to. The last time SEC approved an ETF was copper which was trading for the past 10 years.

[taiwww]

SEC effects will be negative on the bitcoin always becaus it is very much important aspect now and many people are waiting for the approval of exchangers. I guess this matters to them because many of them are big investors and are waiting for the big investment to be done over these exchanges, feels like whales in the run! So why not, the effect will always be there and it wouldn’t be so good if they keep delaying the decisions.

[just_Alice]

I wouldn't say there's a strong positive correlation between the SEC's decision and BTC price. News that the SEC has rejected Winklevoss ETF proposal appeared on the Internet on July 26th: https://www.cnbc.com/2018/07/26/winklevoss-twins-bitcoin-etf-rejected-by-sec.html
And the price after that was even increasing till July 30th (from $7.9k to $8.2k) and only after that started to decrease. But, on the other hand there is some sort of dependence, because it isn't the first time Bitcoin drops after news related to the SEC. The thing is we live in a world, where laws and legislation questions are number one priority if you don't want to do black business. SEC's Bitcoin approval is the first step towards worldwide legislation and implementation of cryptocurrencies. Investors are interested in this process, because if most of the world's population use Bitcoin the price increases instantly and if there are some news that denote the reverse process investors become disappointed and sell off their cryptos.  

[minhnguyenqh8395]

IF SEC reject ETF, what will happen? anyone can predict about future of crypto market?

[Cacao2017]

in my opinion:
Bitcoin is a digital currency designed to facilitate intercompany billing on a peer-to-peer Bitcoin protocol that does not require an excessive regulation channel for short-term investments. term and medium term. The SEC will refuse to accept the ETF as it will be responsible for protecting investors against potential leaks that occur within the Bitcoin network.

[pawanjain]

It's not confirmed whether the SEC will surely announce the approval/disapproval of the ETF in September as they can further delay the announcement.
To be honest, it should not really matter to the traders whether the ETF is approved or not. As the CEO of Pantera says that the traders are overreacting to the news and they should instead focus on the bullish side of BTC than to panic and sell over the delay of the ETF.

[cleygaux]

Of course its has a negative effect especially in bitcoin price and its just down after the decision has been made but the solidx says they are also expecting some delays about the secs decision and whatever the reason why they decided to delay it Im sure they will properly review it and consider the feedback from the public about it but IMHO the SEC will approve the application filed by solidx in September 30, I have a very positive feeling. 

[Nonie]

the price dropped after the news came out I thought everyone was panicking and together selling their assets, I didn't understand what they were thinking, I thought the SEC hadn't given a final decision about the bitcoin ETF why are they panicking? I think optimists for ETFs are approved

[Pursuer]

huh, so if when end of December come, we will see the future of Crypto market? I so confused if SEC reject ETF, what will happen? We will see Big dump, or market will come back the start again?

We'll definitely see a dump if ETF is rejected by SEC but Btc will recover slowly tho and the bull season might set back a little. I hope ETF gets approved but its not likely to. The last time SEC approved an ETF was copper which was trading for the past 10 years.

I genuinely hope the opposite happens. meaning I hope they actually reject ETF and it is the likely scenario too in my opinion. I feel like the market needs a wake up call to be reminded that bitcoin does not need ETF to grow and flourish specially when ETF is a centralized thing restricted only to US and is available nowhere else!

[berrygood]

I really don't understand the reaction of the market but it should be positive in the long term because delaying instead of rejecting has some meanings.

[xminerx]

well the effect is what you just saw and mentioned here! a drop in bitcoin price about 7-8% followed by the altcoin massacre where they each dropped at least 10% and some even up to 20% drops.

it is hard to say what is going to happen when they actually reject ETF in  about a month from now because we have already had the drops and also from what i can see the market expects the rejection despite all the hype so everyone is waiting for that date to come so that they can start buying so we may not even see a big drop.

Sounds a bit to optimistic to me, but I would be relieved if we do not see another bloodbath soon and hope next time the market will react less strongly. Everyone hopes for a positive decision and the market really needs it desperately.

yes it is a bit optimistic but for good reasons (in my opinion at least).
usually these drops like this are  caused by weaker hands. also as everyone sells now they come into money. that money doesn't just go away. most of them sold in order to wait for a certain lower price level to buy back and that lower level is the previous bottom $6k for majority of them. so we may not see a "bloodbath" to begin with and this time the bounce back can be stronger because there wouldn't be any threat of ETF rejection on the way.

I am not sure if it's only weak hands, they typically sell when they see a dip but are not the ones that cause it. As this dip was tight very much to the SEC decision I would rather think it were institutional investors you are very well connected with the financial scene and they made the decision to sell right after the SEC announced to delay their decision. I don't know if that is what actually happened but sounds more logically to me. I am also not sure we won't see another bloodbath in September if the SEC rejects.

[Crypto_Spike_Factor]

For me Bitcoin will come really high after this as what the SEC is currently investigating wont stop the technology been constantly added by enormous number of startups that includes a solid and associates background. Expect bull market by October.

[btctalk123]

The U.S. Securities and Exchange Commission (SEC) has delayed making a decision on whether to approve five bitcoin-related exchange-traded funds (ETFs) until September, public documents reveal on Tuesday.
Immediately, Bitcoin price fall down 8%.
Anyone can tell me exactly what is affect of SEC's decision with Bitcoin and crypto market?

As we can see right now even the good decisions and good market news are not affecting the price positively so the price is still going down in the reasons is not understandable for me why bitcoin is not growing.