Bitcoin ETF more likely to be approved but why price is going down?

[Harrisonimo]

Now we have 2 SEC judges in favor or BTC ETF and 1 against, the market should have to give some signs of growth by now, we have a likely ETF approved and Bakkt soon, why does the price is going down? am I missing something?

I just hope the market will be really boostable by the input of the ETF. I aint really seeing the market going down but its somewhat static; going back and forth. If the market dips really further than where it is at the moment then I see a plot in the introduction of the ETF at this period then see no point having the ETF bringing the markets to a level where it is now.

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[exstasie]

ETFs may turn out to be a non event, it's just the latest thing for bots to play with. Bakkt is an interesting one. But like all previous things that were going to 'save' us like futures, LedgerX and a ton of others, once they were rolling it was the same old nothing.

One thing to consider is retirement accounts. Retirement account investment is a decent chunk of the stock market, and an IRA can invest in ETFs. However, derivative trading is generally prohibited, or at least outside the reach of retail investors:

Any type of derivative trade that has unlimited or undefined risk, such as naked call writing or ratio spreads, is prohibited by the IRS. However, many IRA custodians will prohibit the use of any type of derivative trading inside their accounts, except for covered call writing. This is because IRAs are designed to provide retirement security, so the use of speculative instruments such as derivatives is often disallowed. Those who wish to trade futures or options contracts inside their IRAs should look to more liberal custodians that permit the use of other types of alternative investments, such as hedge funds or oil and gas leases. But most custodians of major bank, brokerage and insurance-sponsored IRAs will not do this.

I'm pretty sure that rules out things like CME futures and LedgerX swaps.

So it might be interesting to see whether ETF shares could be rolled into conventional IRAs. Considering the tax benefits (no tax on gains until withdrawn), it's pretty tempting to invest. I'm curious how accessible they might be through mainstream custodians.

[Akpuv]

Now we have 2 SEC judges in favor or BTC ETF and 1 against, the market should have to give some signs of growth by now, we have a likely ETF approved and Bakkt soon, why does the price is going down? am I missing something?

I think we will soon start to see higher prices of Bitcoin once the news of possible ETF approval circulates properly. Besides, we still have about three months to the approval date.

[Indrawan77]

It just maybe, anything still can happen, most of the time people said that etf is going to be accepted and then it failed, so the investors still hesitate, and most of the people not too agree with the etf idea, some think that etf is a bad idea and the long term effect is bad, so etf is not totally a good news for some people, but when the etf being approved we will see some rising, so be patience to wait for the update news

[wahyu wida]

Now we have 2 SEC judges in favor or BTC ETF and 1 against, the market should have to give some signs of growth by now, we have a likely ETF approved and Bakkt soon, why does the price is going down? am I missing something?

I think we will soon start to see higher prices of Bitcoin once the news of possible ETF approval circulates properly. Besides, we still have about three months to the approval date.

maybe it takes time to see reaction happen, and it's true there are still 3 months to see reaction. i am sure that with good news, it will have a good impact on cryptocurrency

[magnat7691]

The decision on the BTC ETF will be made, most likely no earlier than February 2019. Do not hope for a quick adoption of this decision.

[Lexurdania]

Now we have 2 SEC judges in favor or BTC ETF and 1 against, the market should have to give some signs of growth by now, we have a likely ETF approved and Bakkt soon, why does the price is going down? am I missing something?

I am believe bitcoin price rising will happen soon. I am believe with more good news in market right now, many investor will come to crypto market and make the price increasing.

[Gabali126]

Now we have 2 SEC judges in favor or BTC ETF and 1 against, the market should have to give some signs of growth by now, we have a likely ETF approved and Bakkt soon, why does the price is going down? am I missing something?

People don't need to over stress the bitcoin ETF approval. If we continue to lay too much emphasis on this subject, we may be very hurt if at the end, the SEC failed to approve the proposal.

[TheUltraElite]

The decision on the BTC ETF will be made, most likely no earlier than February 2019. Do not hope for a quick adoption of this decision.

That was the last declared date. Lets see if it gets delayed again. Once again blame the centralized money hungry people for this. They wont even understand the effect of this on the market.

But think about it - when ETFs do get approval, stock and commodity market traders will enter in the crypto market. This will raise the volume and market capitalization but it wont change the panic selling and whales scene. Those people will still be there because the ones who will enter will be the same humans.

Again price drops during this time are not due to ETFs, people are cashing out money because they dont have patience to hold for the year end or just plain panic selling after high doses of FUD

[Symptomatic]

The ETF of bitcoin is likeley to be approved but Bitcoin prices are still at its lows. This is due to the panic regarding Bitcoins devaluation, as more and more people are trading off their Bitcoin will soar back up when it is fully approved.

[lordmick]

Firstly, a large amount of money is withdrawn from the market at the moment. Secondly, the market is already so “fed up” with this news that the market no longer reacts to it. Accordingly, now the mood of the main holders and traders are changing from other more relevant news.

[Bergqvist]

ETF is not the sole basis for bitcoin price. The investors may have their own reasons why they sell their asset although positive news will come to market.

[Micronometer]

Bitcoin ETF are more likely to be approved but still price is going down. This approving of bitcoin ETF has nothing to do with the price of bitcoin, even though it may put a minor effect. Bitcoin is a volatile market and the price is eventually go up.

[Koadharber]

Now we have 2 SEC judges in favor or BTC ETF and 1 against, the market should have to give some signs of growth by now, we have a likely ETF approved and Bakkt soon, why does the price is going down? am I missing something?

the ETF is not the sole basis for bitcoin price though it affect the price there are still lot of factors affecting it as great number of bitcoin traders are not concentrated only in US

You are right man an I was suppose to say the same thing on why do people make this news or stuff to be a main driver or indication to dictate on what would be the price movement. Not all news will trigger out price increase even though its sole related but generally speaking ETF has  nothing to do with price increase but it do somehow a good fundamental if you do make trade up but overall I don't see this would be relevant to dictate on what should be the price movement would be.

[sandra_x]

The bitcoin ETF is almost comatose aich direction prices will s far as approval is concerned this year, may be we be next year, until then, we are not sure which direction bitcoin price may go.
https://www.sec.gov/rules/sro/cboebzx/2018/34-84367.pdf

[Thinkable999]

ETF is not the only reason in this regard.Maybe people are willing to wait for the future,see how things go by.Legalization should be the key factor here,people are waiting to see the acceptance of bitcoin.

[TheClownSong]

Now we have 2 SEC judges in favor or BTC ETF and 1 against, the market should have to give some signs of growth by now, we have a likely ETF approved and Bakkt soon, why does the price is going down? am I missing something?

ETF will take long effect to market. Its good for market but it will not instantly effecting on the price. With ETF approved by regulator, investor will more confident and it make them make a plan to enter crypto market. I am believe the price will increase in near future

[Frobeek]

Now we have 2 SEC judges in favor or BTC ETF and 1 against, the market should have to give some signs of growth by now, we have a likely ETF approved and Bakkt soon, why does the price is going down? am I missing something?

I just read an article on Forbes before coming across this topic, and the author was just talking about why the launch of BTC ETF will be disappointing from a price standpoint. He said that right now whales are holding their position cause they are expecting the price to fall due to there is likely to be a selling pressure once this rumor becomes the news. So that might be the reason why things are this way.

[Supercrypt]

I just hope the market will be really boostable by the input of the ETF. I aint really seeing the market going down but its somewhat static; going back and forth. If the market dips really further than where it is at the moment then I see a plot in the introduction of the ETF at this period then see no point having the ETF bringing the markets to a level where it is now.

A whole lot of you are stressing yourselves emotionally trying to assume what the market would be like on an approval of ETF. Firstly, I do not even seeing ETF being approved this year, and I so much think this would just be stalled, postponed and all for as long as they want to but I do not see that affecting the market in anyway. Sure, a lot of people may think this would bring in new money into the space and obviously makes it look like the SEC backs it up somehow, but best case scenario I see is that the price gets driven up fast, people start getting greedy and before you know it, we end up seeing the same process we have always seen before.

maybe it takes time to see reaction happen, and it's true there are still 3 months to see reaction. i am sure that with good news, it will have a good impact on cryptocurrency

It is a market, and you cannot just expect that because of some news, you will just start seeing reactions immediately, but since a whole lot of people are seriously putting too much attention on an ETF that I really do not see getting approved this year or I really do not see having any serious effect on the market, as long as people want to give themselves hope because of it, it is their call, nothing bad with it. One thing I have always known is that this is a market that is here to stay and will thrive either with ETF or no ETF in the long run, but sure, if ETF peradventure speeds up mainstream adoption, well; it is still all good anyway.

[jrrsparkles]

People get into a mindset for flat crypto market so the prices were still the same region but if we watch out them very deeply we can see some minute growth in the crypto prices for two weeks now so the prices may bump in the upcoming days but ETF won't have much impact on the prices because it will just create the temporary waves.