How does SEC ETF rejection affect the future of Bitcoin.

[GangNamSK]

Just hold your bitcoin for long time. Anyway i think ETF will be approved in September. But bitcoin will gain more value after time, he is the best cryptocurrency and follow all and can't be cracked, hacked or multiply by fake.

Every action at this moment is very sensitive. You should be aware of any possible action. Protect your property and limit bad news. Make sure your wallet and money are not lost.

[timerland]

So it's finally here. SEC rejects most of the ETF applications. So what do you advise I do. Keep holding or sell off? I'm in a dilemma at the moment

Why would you sell off your bitcoin investment just because some regulator rejects the idea of an ETF, which is in no way representative of bitcoin itself? Do keep in mind that ETFs are tools used for speculators, and they really don't bring any value to the average Joes.

The markets have grown insensitive about ETF approval anyways, because of the amount of times it's been hyped up and amount of times it's been turned down. I'm fairly sure that most people understand what I said previously now as well, which is why we don't really see rallies before a potential ETF decision anymore.

My definitive advice is to keep holding, especially through this rough patch of bear market. There is virtually no benefit to selling right now, as the prices are just so low. Besides, an individual decision like the SEC's, on a fund made for speculators, really has no relevance in terms of the long term potential of bitcoin whatsoever.

[Findingnemo]

So it's finally here. SEC rejects most of the ETF applications. So what do you advise I do. Keep holding or sell off? I'm in a dilemma at the moment

Bitcoin has no use if the ETF get's approval so that is a good thing that they have rejected.If you know what is the technology behind bitcoin then you won't sell your coins,if you want to make money in some years you need to hold the coins for now.

[atayating]

I think ETFs can bring more investors to the market, but if the SEC rejects the ETF application, then the market may be affected at the speed of development!

[mostkey]

This is not a bad problem for cryptocurrency development while there are still many people who support and save it, it will grow in the future, events like SEC and ETF have negative effects only after that, people start not caring about them Existence and focus on the market we have built since a few years ago, I believe that now is the glory of cryptocurrency with the enthusiasm of the community to build and use as it should, decentralization for mutual progress and individual progress.

[Pursuer]

So it's finally here. SEC rejects most of the ETF applications. So what do you advise I do. Keep holding or sell off? I'm in a dilemma at the moment

Why would you sell off your bitcoin investment just because some regulator rejects the idea of an ETF, which is in no way representative of bitcoin itself? Do keep in mind that ETFs are tools used for speculators, and they really don't bring any value to the average Joes.

there are two reasons why one would sell his bitcoins for a "negative news" like the ETF rejection. one of them is a logical speculative reason and the other is just dumb!
the logical reason is that you speculate that the market will react strongly towards that price so you want to act fast before that reaction to the news occurs. this reaction can be a sell-off to a bad news or a buying-frenzy to a good news. as long as you are a trader and know what you are doing and also act fast if your speculation was wrong, this is a good decision. in case of recent ETF denial some may have sold in anticipation of a drop (which we had a teeny tiny drop) but since it didn't occur they would have bought back losing a little due to fees.
the dumb reason is a panic sell just because the media is filled with bad news and because some other idiot is saying bitcoin will drop hard... it is obvious how bad this is so I wouldn't go into it

[Strufmbae]

I did not understand your question. Are you storing Bitcoin and ask if you want to sell it? If this bitcoin, then of course my answer is: "Yes, it must be stored! Because bitcoin is the strongest cryptocurrency in my opinion"

Maybe you are taking the discussion statement out of the context, as you can see op is directly needing accurate information as a suggestion if he will continue to hodl his bitcoins, if sec rejects ETF. On the other hand, it is not an option to not still keep on believing on bitcoins capability the market stability is still on 6-8k road,  so anything unsubstantial happen then it is good time to dump. But as long as the wheels keeps on turning let us just take time to understand to what is happening.

[nidacoinlove]

So it's finally here. SEC rejects most of the ETF applications. So what do you advise I do. Keep holding or sell off? I'm in a dilemma at the moment

Firstly We shouldn't be highly concerned about the ETF because some regulated authority is doing so which has nothing to do with Bitcoin and cryptocurrency over all. We are bitcoiners and have nothing to do with these regulations, we are above all. In my opinion these regulations are used as tools to bound Bitcoin to the centralized sources which is not in favour of a decentralised currency.

[LogitechMouse]

No surprise for me to be honest and I don't care if Bitcoin will be accepted or rejected by the SEC. I know that Bitcoin is being manipulated right now and the market is immature that the price action of Bitcoin depends on the News being spread across the internet. Being rejected by SEC will be ok for me but being accepted will make the price rise FOR A MOMENT. Remember Sell the News.

[exstasie]

So it's finally here. SEC rejects most of the ETF applications. So what do you advise I do. Keep holding or sell off? I'm in a dilemma at the moment

Why would you sell off your bitcoin investment just because some regulator rejects the idea of an ETF, which is in no way representative of bitcoin itself? Do keep in mind that ETFs are tools used for speculators, and they really don't bring any value to the average Joes.

I don't think he's doing a fundamental analysis about ETFs. I think he just wanted to know if this meant price was going to crash.

To me, it's indicative of the "buy the rumor, sell the news" mindset. He was holding heading into the ETF decisions, and only considered selling once the news dropped.

The markets have grown insensitive about ETF approval anyways, because of the amount of times it's been hyped up and amount of times it's been turned down. I'm fairly sure that most people understand what I said previously now as well, which is why we don't really see rallies before a potential ETF decision anymore.

I wouldn't be surprised if we do this dance one more time, with the SolidX decision next month. That one has been more hyped than any other.

[1Referee]

I wouldn't be surprised if we do this dance one more time, with the SolidX decision next month. That one has been more hyped than any other.

Same thought. It's probably the last easy ETF short opportunity of the year, and probably for ever. At some point people have build up enough resistance so that the market just doesn't care anymore until one of the ETF's actually gets approved, but that's unlikely to happen in the forthcoming years.

The only point of importance is that I believe we'll see a correction reasonably far (two or three ish days) before the actual decision date. We've seen it happen this week and it should be used as an indicator of the state we're in. It would be epic though if the price instead of correcting goes up badly busting our shorts one by one.

[Traxo]

At some point people have build up enough resistance so that the market just doesn't care anymore

I had a dream last night that suddenly the BTC price crashed in a vertical line down to $3000. I was nonplussed and went to the refrigerator. Came back and the price was back up $12000. Thought nonchalantly, "oh I guess that was the bottom."

All the pessimism, burnout, and the blood bath in altcoins around here feels like a bottom:

https://steemit.com/trading/@anonymint/most-important-bitcoin-chart-ever

SolidX will not likely be approved but the NYSE futures with physical settlement will probably be a reality at the end of the year.

Some development is likely going to propel BTC back to new ATHs in 2019.

[oriontab]

It does in the short term but ultimately it will not matter because bitcoin mass aoption is what will drive the price better,rather than institutions

[oriontab]

You shouldn't have followed the hype concerning ETF acceptance of Bitcoin to invest in Bitcoin; though you might have gained if the price went up yet, rushing to purchase Bitcoin like that is a wrong decision. ETF do not determine the life and price of Bitcoin. Last year December Bitcoin went up to $20k and yet have no involvement with ETF this should tell you what to do. Hold your coins for better days.

That is true, we hit 20k USD without etf or promise of such, that is why I always stick to adoption as a better thing, gradual growth, not some spike by institutional funds which can also leave at will

[Idrisu]

So it's finally here. SEC rejects most of the ETF applications. So what do you advise I do. Keep holding or sell off? I'm in a dilemma at the moment

ETF rejection will affect bitcoin because many people and investors will invest based on the news and because rejection is not as expected investors especially the short time one will sell off the buying position.  But the wise one will buy the dip and push the price up again.

[exstasie]

I wouldn't be surprised if we do this dance one more time, with the SolidX decision next month. That one has been more hyped than any other.

Same thought. It's probably the last easy ETF short opportunity of the year, and probably for ever. At some point people have build up enough resistance so that the market just doesn't care anymore until one of the ETF's actually gets approved, but that's unlikely to happen in the forthcoming years.

As crazy as it is, the old "China bans Bitcoin" trick worked for years longer than I ever thought it would. I'm hoping this ETF stuff doesn't morph into that kind of tired news cycle.

The SolidX decision does seem like an easy short, assuming we rally (or at least go sideways) into the news next month. For now, that still seems like a good possibility.

[omacron12]

There is a recall of the earlier rejection by SEC, so the decision may now be positive after the review, Also, there are several other ETFs still remaining for them to consider.So Hodl