optomical or pessimistic about ETF this month

[Rohtox]

What do you think about this month's news about ETF whether it is optomical or pessimistic? if it is approved is it safe to invest? and if it's rejected what you think?

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[AXELNetwork]

Optimistic. But there's no reason to panic if it doesn't happen this month.

[pixie85]

I'm pessimistic. I think there has to be an anti-crypto lobby in there that wants to slow them down as much as possible. For those who want to go in the lower the price is the better. Think of the opportunities if you knew that you'll buy and have 50 million or more to spend. Getting Bitcoin for 5000 USD would be a huge deal for you.

[flowers5]

What do you think about this month's news about ETF whether it is optomical or pessimistic? if it is approved is it safe to invest? and if it's rejected what you think?

Just watch the market going into the decision and determine what action would throw the most people off and give the whales the most profit.  Market spiking = rejection.  market sinking = approval.  You can see it from a mile away.  I'm hoping to get swing trade this . 

[btc_angela]

I'm pessimistic as well, I getting tired with those ETF in the last couple of weeks that I really don't care if its approved or not. It might severely impact the market in the long haul as institutional investors can control the price in a larger scale if ETF is ever approved, inevitable though, but I have mix feelings about this one.

[avikz]

The correct word is optimistic! I am optimistic about the future of bitcoin and pessimistic on the approval of ETF. I doubt ETH approval will happen so soon. SEC is probably going to delay it till mid November before passing a final judgement.

However, I encourage you to read the below mentioned thread to understand why ETF approval is NOT a good news to the market.

https://bitcointalk.org/index.php?topic=4941563.0

Hope this clears your mind!

[omorfi]

i believe that ETF approval will happen in 2019. So i am pessimistic about ETF approval for this year. There is no price volatility that signs to the possibility of ETF approval on the market.

[squatter]

What do you think about this month's news about ETF whether it is optomical or pessimistic? if it is approved is it safe to invest? and if it's rejected what you think?

I'm pretty sure it'll be delayed or rejected. Both outcomes would probably have a similar negative effect on the market.

As I understand, the physically-backed structure is similar to the proposed Winklevoss ETF which was also recently rejected by the SEC. Their statement at that time seemed like a pretty sweeping condemnation of the underlying market, which they paint as easily manipulated. I don't see why their opinion would have changed over the last two months. Nothing has changed.

[DooMAD]

Ambivalent.  

I don't see ETFs as a boon for Bitcoin.  They don't help improve the technology.  They won't bring any genuine adoption.  They can't demonstrate to normal people why Bitcoin is important.  If ETFs get approved, all it does is reinforce the misguided notion that Bitcoin is purely a speculative asset and lets banksters place their bets from the sidelines.  I'd rather see price discovery occur organically through ordinary people finding a genuine benefit to using Bitcoin, not through a bunch of Wall Street Whales and their automated high-frequency-trading algorithms manipulating everything to shit.  It's had to imagine why people are looking forward to that, unless they don't actually care about the future of crypto and are just in this for a "quick buck".

Their statement at that time seemed like a pretty sweeping condemnation of the underlying market, which they paint as easily manipulated.

What the SEC seem to fail to comprehend is that any market can be manipulated if you throw enough money at it.  HFT is often abused for this purpose.

[gentlemand]

Have a browse of that - https://virtualmarkets.ag.ny.gov

And tell me you believe the SEC will want anything to do with this utter shitshow.

There won't be any decision this month. When the decision eventually arrives I'm going for a 99% probability of no.

[The Sceptical Chymist]

Ambivalent.  
<snip>
I don't see ETFs as a boon for Bitcoin.  They don't help improve the technology.  They won't bring any genuine adoption.<snip>

I'm also ambivalent and I agree with what's written above.  

However, I have a feeling that ETFs get the go-ahead, it'll have some effect on the market.  Am I 100% certain about that?  Not really.  Nor am I extremely informed about the details of these proposed ETFs, but when you get more things traded on the market, it usually means more trading overall.  That could have an effect on price and maybe even market volatility.  Who knows--but I don't think it won't affect bitcoin at all.

I do think there are investors who would prefer to trade in bitcoin on a stock exchange rather than using a traditional exchange, and I don't blame them.  I would also think more investors might be good for bitcoin.  In any case, I'll have to read up on this.  I basically know what an ETF is but haven't read about what's being proposed.

Have a browse of that - https://virtualmarkets.ag.ny.gov

Thanks for that link.  I'm going to read it now.

[FlamingFingers]

I am neither optimistic nor pessimistic. My stance on ETF is neutral because I don't think it will benefit Bitcoin in any way. Sure, most will say 'more investors' and 'institutional money' will pour in, but it won't be in the crypto market directly, rather Bitcoin will be divided and traded in the stock market (merely a mirror of the price). Besides, there will be much more short selling, so the market could still be manipulated.