SEC plays with ETF!

[cellard]

All this means that we have not reached the bottom of 2018  

Do you mean levels below $ 5500 ?, It is not expected to happen.

About three weeks ago, "before the news about Khalid," the price was around $ 6,200, after which the price plummeted to $ 8000 due to optimism and then returned to the same levels after the postponement decision.

So it will be repeated until the decision to reject or accept "which leads to a rise above $ 8000 or fall below $ 6000" in the short-term only.

In the long-term: the price will recover and start to rise again to over $ 10,000, especially if the lightning network is activated but the real question is when?

ETF or others are the reasons that lead to increases in the short-term only.

If you're afraid of the price, the real trader knows how to gain from both falling and rising "you could earn $ 2000 from last week."

Prices below the famous $5500 range where the "cost of mining theory" point and the long term trend support line meet are being questioned by a fair share of analysts out there, pointing to $3k, some even $1k to really get deep in despair mode. They claim the current downtrend is still part of "capitulation" and the graph must show a nice dip below $5k, which means all the people that aren't here for the long term but to make a quick buck, these that do not understand the fundamentals, will be shaken out there. We need to go deep in there so bitcoin is hated by all the noobs. Then after that happens, it's when the march towards $100k starts.

Of course, this is not a requisite, $5.5k may have been the definitive bottom and we will never go under that, which means the people waiting with fiat for for the $3k-$1k scenario to take place are going to hate themselves a lot in a year.

[GhostWithin]

All this means that we have not reached the bottom of 2018  

Do you mean levels below $ 5500 ?, It is not expected to happen.

About three weeks ago, "before the news about Khalid," the price was around $ 6,200, after which the price plummeted to $ 8000 due to optimism and then returned to the same levels after the postponement decision.

So it will be repeated until the decision to reject or accept "which leads to a rise above $ 8000 or fall below $ 6000" in the short-term only.

In the long-term: the price will recover and start to rise again to over $ 10,000, especially if the lightning network is activated but the real question is when?

ETF or others are the reasons that lead to increases in the short-term only.

If you're afraid of the price, the real trader knows how to gain from both falling and rising "you could earn $ 2000 from last week."

Prices below the famous $5500 range where the "cost of mining theory" point and the long term trend support line meet are being questioned by a fair share of analysts out there, pointing to $3k, some even $1k to really get deep in despair mode. They claim the current downtrend is still part of "capitulation" and the graph must show a nice dip below $5k, which means all the people that aren't here for the long term but to make a quick buck, these that do not understand the fundamentals, will be shaken out there. We need to go deep in there so bitcoin is hated by all the noobs. Then after that happens, it's when the march towards $100k starts.

Of course, this is not a requisite, $5.5k may have been the definitive bottom and we will never go under that, which means the people waiting with fiat for for the $3k-$1k scenario to take place are going to hate themselves a lot in a year.

It's too obvious to be true. Most likely the game is more thoughtful, it is possible that the bitcoin itself is part of one big idea.
in the 70's after the abolition of the gold standard and the introduction of petrodollars, the British established supranational non-cash money, imitated by the IMF.

maybe the situation is repeated?

[kwabeedat]

Honestly speaking I hate how this ETF is affecting the crypto market. Sometimes I wish no one applied for that at all. It really shakes up the market. Well, the SEC should also set things up straight so that we cab all see the way forward. In case it gets the green light, ooh boy!! people are going to make money.

[Oceat]

Honestly speaking I hate how this ETF is affecting the crypto market. Sometimes I wish no one applied for that at all. It really shakes up the market. Well, the SEC should also set things up straight so that we cab all see the way forward. In case it gets the green light, ooh boy!! people are going to make money.

SEC knows how many newbies are in the market that's why they like to bleed those newbies and remove in the line. If these newbies will stop making a wrong decision then we should probably far from this by now.

I don't know if my hunch was right but i think someone was blowing a whistle when the SEC is going to approve the ETF and probably SEC heard it then they cancel it due to the people that might rush again and fill-in the market.

[Maheshkumar_Hrangkhawl]

Honestly speaking I hate how this ETF is affecting the crypto market. Sometimes I wish no one applied for that at all. It really shakes up the market. Well, the SEC should also set things up straight so that we cab all see the way forward. In case it gets the green light, ooh boy!! people are going to make money.

There is nothing wrong in trying. There will be a major boost in the mainstream adoption, if the ETFs get approved. Even now, many of the old-school investors are afraid to invest in crypto, as the crypto-currency exchanges are not regulated.

[Samarkand]

...In case it gets the green light, ooh boy!! people are going to make money.

I wouldn´t be so sure about this. Remember that the current bear market started
right after the introduction of BTC futures. Buy the rumour, sell the news has often
been the better strategy in recent years of Bitcoin trading.

Let´s say that the SEC actually approves an ETF in early 2019. The market will likely
rise in advance of the approval, because insiders will drive the price up knowing
that the ETF is going to be approved. Afterwards they dump on the public and the price
declines, because there isn´t another catalyst for another bull run on the horizon.

I really think that the next sustainable price increase will happen in advance of the block
reward halving, which will lower the daily sell pressure on the BTC market.

[BitHodler]

I really think that the next sustainable price increase will happen in advance of the block
reward halving, which will lower the daily sell pressure on the BTC market.

That makes sense with how the block halving is an event that's guaranteed to take place, while everything else is too speculative without a solid foundation. You can't do anything with hopes and dreams.

It would be good for the market to have the SEC reject the Vaneck ETF entirely. I think that's when we can see how much of current levels are dedicated to speculation around ETFs.

If there is no ETF speculation, no news around institutions entering the market, it will become increasingly difficult for the $6000 mark to remain as resilient as it has been this whole year. Eventually it will break.

[Netnox]

An ETF would have been good.... but now it looks like they are not going to allow it. So we need to forget about it and move on with our regular lives. It was not a do or die situation. Bitcoin and the other cryptos can survive without the help of an ETF.

[darkangel11]

An ETF would have been good.... but now it looks like they are not going to allow it. So we need to forget about it and move on with our regular lives. It was not a do or die situation. Bitcoin and the other cryptos can survive without the help of an ETF.

Why do you think so? Do you really believe there's not enough wealthy people out there to lobby for ETFs to be approved? The SEC is delaying but eventually they will run out of options. Every time they deny they have to base this decision on some legal foundation and each time the investors will pay good lawyers to make sure the requirements are fulfilled. Each new application will be harder to deny and eventually one of them will get approved, especially that one member of the SEC is already supporting cryptocurrencies.

[timerland]

The thing about the ETF is that it's merely a decision on a derivative which happens to be associated with bitcoin as the underlying asset.

Whether the SEC approves it or not isn't a direct judgement on bitcoin itself, and people need to understand that. It's not the key to long term adoption whatsoever.

And I don't really understand the fact that people are getting hyped or excited about a potential Bitcoin ETF judgement by the SEC anymore, because there is pretty much no chance that they're going to approve it with so many delays and previous decisions.

Perhaps this time won't even be the final deadline. Even if this proposal does finally get rejected, I'm sure there will be future ones. But honestly, I don't see markets responding that negatively to it because they're starting to realize too what I've said, and hype has died down surrounding the subject altogether.

[marcbitcoins]

Let them play because even due the SEC rejected the ETF projects but its looks its was nothing for the crypto users because there is no negative direct impact in the market after the latest rejection in which its look like ETF is not important anymore but still i want to see if it will trigger the market bullish when the SEC approved the ETF projects. Hopefully it will really be finally concluded by this year.

[Wayan_Pedjeng]

There is no need to do an in-depth research on the reasons. We all know why the SEC rejected the ETF application. But the problem is that they don't have a credible excuse to defend their action. So they would like to keep the proceedings in a state of suspended animation.

[suzanne5223]

There is no need to do an in-depth research on the reasons. We all know why the SEC rejected the ETF application. But the problem is that they don't have a credible excuse to defend their action. So they would like to keep the proceedings in a state of suspended animation.

Well, we need to do an in-depth research about why the US SEC might be playing with our feelings in terms of the bitcoin ETF and we cant be sure either if they were really playing with our feelings because they may first acted like the Visa Card CEO which later make god statement about crypto currency.

[Jolly_Trader]

All this means that we have not reached the bottom of 2018  

Do you mean levels below $ 5500 ?, It is not expected to happen.

Of course it wasn't expected, but now we are very close to it. I thought it would happen earlier, because this price is not the bottom.

And if I say that bitcoin will cost less than $ 5,000, then again nobody will believe me.

[Kemarit]

All this means that we have not reached the bottom of 2018  

Do you mean levels below $ 5500 ?, It is not expected to happen.

Of course it wasn't expected, but now we are very close to it. I thought it would happen earlier, because this price is not the bottom.

And if I say that bitcoin will cost less than $ 5,000, then again nobody will believe me.

I think on some exchange the price hits $5500 already so we have hit another bottom for the last 52 weeks. But this is not due to the ETF decision though and since we're just like a 'collateral damage' for the Bitcoin Cash war I think its hard to see if this bottom will gonna hold or another series of sell-off will occur post Bitcoin Cash fork. Or if we're going to see $4000-$5000 or worst if SEC rejects the Van Eck/Solid X proposal.