Bitcoin price after another ETF rejection by US SEC

[sheenshane]

In the coming months, they are   9 ETFs are there for approval awaiting from US SEC hopefully we can expect a positive outcome from Sec re-approval thought

If you aren't psychologically ready to take another 9 ETF rejections by the SEC then you aren't going to do well in bitcoin. The only way to keep a strong hand and don't do anything stupid is if you stop expecting that the ETF will ever pass. Assume the SEC doesn't have an incentive to pass it and move on with your life, bitcoin will do well without the ETF, hard money always wins in the end, the ETF passing would only speed up the rocket.

Agree with your statement mate, yes bitcoin will do well without ETF. It is not bad for now bitcoin will increase even ETF was rejected that we expect that after rejection ETF will have an effect to the bitcoin and it might sink the price in the market. But their prediction was wrong that ETF will have a big impact if it is approved by SEC. One thing that comes up in my mind, before bitcoin pumped up the price last year without ETF so there's no reason that it will not happen again.(IMO)

[BitcoinNewbie15]

In the coming months, they are   9 ETFs are there for approval awaiting from US SEC hopefully we can expect a positive outcome from Sec re-approval thought

If you aren't psychologically ready to take another 9 ETF rejections by the SEC then you aren't going to do well in bitcoin. The only way to keep a strong hand and don't do anything stupid is if you stop expecting that the ETF will ever pass. Assume the SEC doesn't have an incentive to pass it and move on with your life, bitcoin will do well without the ETF, hard money always wins in the end, the ETF passing would only speed up the rocket.

Agree with your statement mate, yes bitcoin will do well without ETF. It is not bad for now bitcoin will increase even ETF was rejected that we expect that after rejection ETF will have an effect to the bitcoin and it might sink the price in the market. But their prediction was wrong that ETF will have a big impact if it is approved by SEC. One thing that comes up in my mind, before bitcoin pumped up the price last year without ETF so there's no reason that it will not happen again.(IMO)

Of course it will happen again without an ETF, it's just things will be different this time around, it could take longer. At the beginning of 2017, that's when the price was starting to slowly rise.  A lot of people heard about Bitcoin through friends/family that wouldn't stop talking about it (me being one of the talkers). They heard about how everyone that was holding Bitcoin was making money, so they bought some to get in on the money making machine. That is what really caused the bubble last year, that and the massive amount of media coverage.

Now that everyone knows about Bitcoin, in my opinion, the rise back to $20k will take much longer without an ETF. With an ETF approval, I think that very well would cause a short term pump which would help initiate the next bull run.

[Soots]

In the coming months, they are   9 ETFs are there for approval awaiting from US SEC hopefully we can expect a positive outcome from Sec re-approval thought

If you aren't psychologically ready to take another 9 ETF rejections by the SEC then you aren't going to do well in bitcoin. The only way to keep a strong hand and don't do anything stupid is if you stop expecting that the ETF will ever pass. Assume the SEC doesn't have an incentive to pass it and move on with your life, bitcoin will do well without the ETF, hard money always wins in the end, the ETF passing would only speed up the rocket.

Agree with your statement mate, yes bitcoin will do well without ETF. It is not bad for now bitcoin will increase even ETF was rejected that we expect that after rejection ETF will have an effect to the bitcoin and it might sink the price in the market. But their prediction was wrong that ETF will have a big impact if it is approved by SEC. One thing that comes up in my mind, before bitcoin pumped up the price last year without ETF so there's no reason that it will not happen again.(IMO)

Of course it will happen again without an ETF, it's just things will be different this time around, it could take longer. At the beginning of 2017, that's when the price was starting to slowly rise.  A lot of people heard about Bitcoin through friends/family that wouldn't stop talking about it (me being one of the talkers). They heard about how everyone that was holding Bitcoin was making money, so they bought some to get in on the money making machine. That is what really caused the bubble last year, that and the massive amount of media coverage.

Now that everyone knows about Bitcoin, in my opinion, the rise back to $20k will take much longer without an ETF. With an ETF approval, I think that very well would cause a short term pump which would help initiate the next bull run.

If this will be successful in the near future of bitcoin, and with respect to ETF or something that made the world of bitcoin more precious. Bull run will be happening as long there's a potential increase in demand which could trigger people at a certain situations. Nothing to worry all about, because this plans will have to provide an assurance of digital currency to be more sustainable to the public so that the adoption will become more in demand.

[okala]

As anticipated, bitcoin took some  minor dive, losing about 300$ with the recent rejection of bitcoin ETF proposals presented by ProShares, DIREXION and Graniteshares but things seem to be recovering nicely after just a few hours, maybe we don't need the ETF afterall, just a killer app to drive adoption mainstream

Traders are becoming used to this ETF issue and I think that is why many of us are not dumping like before. Bitcoin has sofa a major dumped some months ago and we are seeing corrections now and I believe with ETF or no ETF the bull will resume.

[honghe99]

Yes, we may not need to join the ETF, but if the ETF can pass the audit, it will bring more investors to the market and let more people know the existence of the coin market!

[carlisle1]

As anticipated, bitcoin took some  minor dive, losing about 300$ with the recent rejection of bitcoin ETF proposals presented by ProShares, DIREXION and Graniteshares but things seem to be recovering nicely after just a few hours, maybe we don't need the ETF afterall, just a killer app to drive adoption mainstream

That ETF should be changes in the abbreviation WTF since it has nothing to help crypto but false information and misleading,majority of the noob in this forum believe that this will give great growth ,but again nothings happen but rejection..

Market can grow without the ETF because we can help market to bloom,and not this false informations

[royalcrypt]

This ETF rejection wasn't the actual reason for the price fall of BTC because there wasn't much hope of it being approved. However, September decision may be a game changer for BTC and we might see a new high if ETF is approved and good thing is that even if they reject it again then only a small downfall in price is expected.

[sakrosak]

in my opinion ETFs don't have much influence on the price of bitcoin, as you say if the price of bitcoin has dropped by $ 300 because of the rejection of the ETF proposal. but bitcoin prices recovered in an instant.

[talkbitcoin]

in my opinion the effects of ETF are diminishing.
people might have gotten super excited about it once but as SEC continued rejecting them, everyone started rethinking what they get excited about and changed their opinion about ETF. now their rejections won't even matter, it is turning into any other event that happens on a daily basis.

[engesi]

If the ETF can be successfully approved, then the market may welcome more investors, but even if the ETF is not successful, I believe that the market still has a lot of room for development! (killer app)

[DMCR lah]

bitcoin prices recovered faster than expected, after rejection of the ETF proposal by SEC the price of bitcoin experienced a pump. in an instant the price of bitcoin has increased by $ 600.

[Wayan_Pedjeng]

By now crypto users have accepted the fact that the SEC is never going to approve an ETF which is primarily backed up by crypto-currency. Perhaps that was the reason why the reaction was milder this time around.

[triciaa478]

Before ETF speculations came into mind of bitcoins traders the price was behaving as it by going up and down. The rejection of the ETF by US SEC shouldn't be the only cause of bitcoins price but other factors must be taken into consideration too.

[el kaka22]

The ETF offer can get rejected as many times as it can it will always be a good thing. In the end bitcoin was known as the "money drug dealers use to not get caught" and from that we have improved ourselves (like using bitcoin for drug dealing is bad...) and now we are at a level that states "bitcoin ETF got rejected", I think that is an improvement in the eyes of the investors and since we improved from those days to these days, even the rejection is still a great leap forward for bitcoin.

I believe no matter how many times the ETF gets rejected, we should still try to push for one, because even in rejection, it lights a positive light towards bitcoins future.

[1Referee]

I believe no matter how many times the ETF gets rejected, we should still try to push for one, because even in rejection, it lights a positive light towards bitcoins future.

Bitcoin doesn't need an ETF to keep growing, it's just something that people have made themselves believe which is stupid.

Bitcoin needs LN in order to lift its main utility to a whole new level, and once that has been taken care of, there is basically no limit to Bitcoin's price. Bitcoin is money in the end, and if people and merchants no longer think it's necessary to cash out to fiat, the price will go through the fucking roof organically. It will take some years to reach that point, but we can wait since we're still in the very early stage. Don't rush things. Enjoy the journey.

LN is Bitcoin's ultimate killer application, not an ETF or Bakkt.

[TravelMug]

I believe no matter how many times the ETF gets rejected, we should still try to push for one, because even in rejection, it lights a positive light towards bitcoins future.

Bitcoin doesn't need an ETF to keep growing, it's just something that people have made themselves believe which is stupid.

Or its what institutional investors want us to believed. Them joining and becoming a custodian in case of a ETF approval will give them enormous control, meaning price manipulation.

Bitcoin needs LN in order to lift its main utility to a whole new level, and once that has been taken care of, there is basically no limit to Bitcoin's price. Bitcoin is money in the end, and if people and merchants no longer think it's necessary to cash out to fiat, the price will go through the fucking roof organically. It will take some years to reach that point, but we can wait since we're still in the very early stage. Don't rush things. Enjoy the journey.

LN is Bitcoin's ultimate killer application, not an ETF or Bakkt.

Yes, Segwit is already implemented but when Lightning Network suddenly goes live, those Bitcoin haters will hide and hibernate and will just get out if they found any loophole in the system where they can attack again.

[BossBee]

The Only ETF that matters and will pass is the CBOE. They are the most senior players in the game and they are offering full insurance on any hacks or lost keys.

[Jiucaige]

I have seen a lot of news about the ETF, but I still don't understand that even if the ETF passes the review, it will not bring any benefits other than bringing in some investors!

[lauder_larger]

I believe no matter how many times the ETF gets rejected, we should still try to push for one, because even in rejection, it lights a positive light towards bitcoins future.

Bitcoin doesn't need an ETF to keep growing, it's just something that people have made themselves believe which is stupid.

Bitcoin needs LN in order to lift its main utility to a whole new level, and once that has been taken care of, there is basically no limit to Bitcoin's price. Bitcoin is money in the end, and if people and merchants no longer think it's necessary to cash out to fiat, the price will go through the fucking roof organically. It will take some years to reach that point, but we can wait since we're still in the very early stage. Don't rush things. Enjoy the journey.

LN is Bitcoin's ultimate killer application, not an ETF or Bakkt.

Yes that is right that we have imposes ETF of ourselves, I think that bitcoin only need people interest, if the people interest will continue increasing I hope that bitcoin price will continue to increase and hopefully very soon bitcoin price will cross its previous high price 20k.

[Jacklowo]

I believe no matter how many times the ETF gets rejected, we should still try to push for one, because even in rejection, it lights a positive light towards bitcoins future.

Bitcoin doesn't need an ETF to keep growing, it's just something that people have made themselves believe which is stupid.

Bitcoin needs LN in order to lift its main utility to a whole new level, and once that has been taken care of, there is basically no limit to Bitcoin's price. Bitcoin is money in the end, and if people and merchants no longer think it's necessary to cash out to fiat, the price will go through the fucking roof organically. It will take some years to reach that point, but we can wait since we're still in the very early stage. Don't rush things. Enjoy the journey.

LN is Bitcoin's ultimate killer application, not an ETF or Bakkt.

Yes that is right that we have imposes ETF of ourselves, I think that bitcoin only need people interest, if the people interest will continue increasing I hope that bitcoin price will continue to increase and hopefully very soon bitcoin price will cross its previous high price 20k.

I think it is just the way the media painted the whole story that makes some investors to think that the acceptance can pump up the price of Bitcoin. Bitcoin will pump in price with or without ETF,  many investors know if this but they simply want to use the ETF event to cause a trigger.