Another attempt at Bitcoin ETF..You knew it was coming once BTC raised above ATH

[rdbase]

As soon we get some kind of increase to the bitcoin price and looking like a slight bullrun, something else comes up in the news to take all those gains made in less than a day.
Back down to where we started $25,900.

There is some ETF news for the beginning of a new month starting tomorrow which looks rather bullish so who knows what this will bring to the markets:

https://twitter.com/tier10k/status/1696392472832717259

[1714724452]

1714724452

[Reid]

^Then, Republican Presidential candidate Vivek Ramaswamy also has something to say about that.

https://decrypt.co/154372/vivek-ramaswamy-grayscale-bitcoin-crypto-innovation

“This decision is strong and clears a path to keep Bitcoin and blockchain innovation in the U.S. instead of overseas,”

Everything is going on our side lately when it comes to the judiciary. But SEC seems to be rock solid at being the checkpoint of everything. It's cool that they want the people to have a safe investment but it's getting out of hand that even those with good purposes are being cornered.
I think this will be the start of a spark in the crypto industry and might as well be the start of another bullish run.

Even if this is just a strategy for Vivek's candidacy it's still good news and I think many will approve of him.

[rdbase]

True @Reid The SEC are the ultimate gatekeepers when it comes to the approval of this bitcoin spot ETF.
All and everyone who has put in their application has been put on hold because of them and they have been annoyed by yet another delay of the waiting process.
So it looks like the next date to look out for is mid-October on the long list of dates outlined in the graph below:

https://twitter.com/CryptosBatman/status/1697570495863177631

[Reid]

I don't know why SEC still keeps on stopping it while here is the truth that might happen if ever, they just wave their white flag and accept the Bitcoin spot ETF.
https://www.cnbc.com/2023/08/29/first-bitcoin-etf-could-be-coming-soon-as-court-rules-in-favor-of-grayscale-over-sec.html
Here is one.

Castle Island Venture’s Nic Carter agrees, adding that while the SEC can go back and try to deny the application on different grounds, the best next step is for the agency “to accept the decision as a way to ‘save face’ and allow the spot ETF in a way that shows they disagree with the decision but respect the court’s ruling.”

And this.

CoinRoutes CEO, Dave Weisberger, tells CNBC it could even net SEC Chairman Gary Gensler a political win — a spot bitcoin ETF would grant the regulator some oversight of the bitcoin spot market even though the token is not considered a security.

Most supporters of Bitcoin will probably change their mind about SEC if ever they just let it go. It's been taking so long, and they are just making more angry mobs that would lead them to be hated for a long time.
Let's face it, Bitcoin Futures was easily approved because the SEC knew it won't gain any popularity and that's what happened even as of today. Spot Bitcoin ETF will be a different story. This is why they are giving Grayscale a hard time to be approved for a spot ETF.
But I like what Dave Weisberg, CEO of CoinRoutes said on this interview.
https://www.youtube.com/watch?v=Yd0KyBrHV4I
"SEC could lay low against Grayscale, approve BlackRock and Fidelity Spot ETF, and then challenge Grayscale to do the same thing." Because there's no way SEC would win now everywhere they go, even at Supreme Court. They are just prolonging the inevitable.

[rdbase]

Some interesting points made @Reid

Had seen something about this on X/Twitter near the end of last month which describes just that:

source: https://twitter.com/BitcoinMagazine/status/1696961368308478408

We can predict what will happen with a comparison to when the precious metals gold first received their ETF to see what is instore for bitcoin when it first receives theirs with this chart:

https://twitter.com/misterrcrypto/status/1697297950056263944

[Reid]

^And that is how a Spot ETF can affect an asset. Amazing. Thanks for sharing @rdbase about that Gold market history.

We know what's next.
Appeal or not, SEC will not just make it easy for Grayscale, but it might approve Fidelity and Blackrock. But Grayscale will be approved no matter what, the only question is "When?". There go your super delays that SEC would do just to show they have the firm control of everything.

SEC won't have anything anymore to deny the application. All they can do is prolong this battle but soon they will still give it up with maybe some strict rules attached into it.

But when they do approve it, that's when we will see another bull run as other fund companies will start doing it too and I bet Bitcoin can do better than what Gold did after the entry of Spot ETF in the market. This will also be the time we might not see big dumps that could happen. Finally.

[rdbase]

Big news inregards to the spot etf news since the SEC getting burned by the courts for delaying it again and again:
https://dailyhodl.com/2023/09/12/150000000000-coming-to-bitcoin-market-once-blackrock-btc-etf-gets-approved-predicts-bloomberg-analyst

This might be the news for cryptocurrencies for it to be pumping..
along with Gary Gensler being drilled infront of court right now.

[khiholangkang]

Big news inregards to the spot etf news since the SEC getting burned by the courts for delaying it again and again:
https://dailyhodl.com/2023/09/12/150000000000-coming-to-bitcoin-market-once-blackrock-btc-etf-gets-approved-predicts-bloomberg-analyst

This might be the news for cryptocurrencies for it to be pumping..
along with Gary Gensler being drilled infront of court right now.

The prediction is that after the ETF is approved, it will allow the flow of funds into the market of $150 billion, and of course we think the same about this, it will increase significantly for the crypto market, especially bitcoin and this sentiment will result in a long bullish trend until the end of the 2025 cycle.

Previously I doubted some people on speculation boards who said that it was likely that bitcoin would reach a price level above $150k in 2025, but today I realize that the domino effect of accepting a bitcoin ETF will raise the awareness of people in the financial world who have been skeptical about it. bitcoins.
thanks for the information bro.

Gary Gansler won't last long, if he doesn't quickly pass the decision to approve ETFs and stick with his thinking, he won't last long at the SEC, I can assure you of this.

[rdbase]

I like your valuable insight on this pivotal point in bitcoin's lifespan @khiholangkang

Here is another very big piece of news corresponding with the other article I posted recently with another huge player wanting to enter the market with their own application for a spot ETF for the SEC to deny along with Grayscale:


https://blockworks.co/news/franklin-templeton-bitcoin-etf

[khiholangkang]

I like your valuable insight on this pivotal point in bitcoin's lifespan @khiholangkang

Here is another very big piece of news corresponding with the other article I posted recently with another huge player wanting to enter the market with their own application for a spot ETF for the SEC to deny along with Grayscale:


https://blockworks.co/news/franklin-templeton-bitcoin-etf

Thank you in advance.

What show in this article in my opinion is from the effect of submitting ETF Bitcoin by Blackrock and others, so they also do not want to be left behind, although this Franklin Tampleton has no long experience like blacrock or fidelity but it seems they also see with the potential of ETF Bitcoin This can benefit their platform.

I really can't wait that they can trade ETF Bitcoin, Gery Gansler really must be fired in the SEC position.
But do you think that there are other people/groups who forced GanSler's gery to forbid the Bitcoin ETF agreed to be traded?

[Reid]

https://twitter.com/ki_young_ju/status/1715171098302566615?t=yXfAz2XMuuthumt2n4cRcw&s=19


Oh, I am sure it will.
The recent mistake by Cointelegraph is already a proof of that. We have seen how investors will react once the Bitcoin Spot ETF is approved. Now the big question, what if its real?
It will continously increase the demand of Bitcoin by a fold that might be shocking in our eyes.
The only difference on this upcoming pump will be "it's real". Not something bought by one billionaire and just sell it all out because he likes too. This will be a movement because of demand and not just about hype anymore.
The actual problem that might exist is the supply once the demand climbs up.

[rdbase]

I am not so sure about that found fact now @Reid as we have seen the bitcoin price surge by $7000 over the past 72 hours since there was some news about the biggest hedge fund investment company has mentions of the spot ETF filings coming this month:
https://cryptoslate.com/blackrock-could-seed-spot-bitcoin-etf-by-end-of-october-filing-suggests
https://coingape.com/blackrock-seed-spot-bitcoin-etf-october

What else could explain it raising from $26,665 all the way to where it is now at $33,757 as of writing this?
https://cryptopotato.com/blackrock-ceo-larry-fink-shares-thoughts-on-a-bitcoin-btc-bull-run

There is also an iShares ticker symbol somebody noticed and posted it on X earlier today.
So this is looking quite promising that it will actually become a reality really soon.

[SquirrelJulietGarden]

I am not so sure about that found fact now @Reid as we have seen the bitcoin price surge by $7000 over the past 72 hours since there was some news about the biggest hedge fund investment company has mentions of the spot ETF filings coming this month:

I witnessed many hype waves in Bitcoin market and this is not my first time. As a Bitcoin holder, who is DCAing Bitcoin and waiting for a big bull run after next halving, I feel cool to see the rise recent days.

I am very cautious that this wave will continue to lift Bitcoin price up more as well as successfully maintain its price above $30,000 or $35,000 till the end of 2023. It's not a big question for DCA fans and hodlers but it is a challenging question for traders. If they are unsure, take profit is not too bad. Wait for other waves to join is not bad at all.

If they think Bitcoin will skyrocket and gamble with leverage, I believe they will face with Long squeeze in last two months of 2023.

https://twitter.com/ki_young_ju/status/1715171098302566615?t=yXfAz2XMuuthumt2n4cRcw&s=19


Oh, I am sure it will.

I am sure about it too. Hype effects would be very big with Bitcoin Spot ETF and even without Bitcoin Spot ETFs, I expect Bitcoin will double its price after a 2024 halving.

Bitcoin Spot ETF approvals will help Bitcoin to more easily double its price from 2021 all time high.

[rdbase]

The recent mistake by Cointelegraph is already a proof of that. We have seen how investors will react once the Bitcoin Spot ETF is approved. Now the big question, what if its real?
It will continously increase the demand of Bitcoin by a fold that might be shocking in our eyes.
The only difference on this upcoming pump will be "it's real". Not something bought by one billionaire and just sell it all out because he likes too. This will be a movement because of demand and not just about hype anymore.
The actual problem that might exist is the supply once the demand climbs up.

That is probably what spurred this deadhorse on forward with bitcoin Spot ETF approval actually!

https://twitter.com/TheFlowHorse/status/1716551098951950481

They did blame their disasterous blunder on an intern afterall!
"Hey where is our meme guy!?
We need a recut of the “Have we started a fire” Bane scene with
@Cointelegraph intern going down in the plane."
https://twitter.com/TheFlowHorse/status/1716552051226710024

[Reid]

That is probably what spurred this deadhorse on forward with bitcoin Spot ETF approval actually!

It will feel better for that dude who was fired if he have Bitcoin in his stash. The mistake will probably be worth it. What he will make in this pump is better than his salary in Cointelegraph. 

I am sure about it too. Hype effects would be very big with Bitcoin Spot ETF and even without Bitcoin Spot ETFs, I expect Bitcoin will double its price after a 2024 halving.

Bitcoin Spot ETF approvals will help Bitcoin to more easily double its price from 2021 all time high.

Hype is like a pandemic, it can easily be contagious, and I bet after the investors bought some Bitcoin they just won't stop anymore.
At least this mistake made a good effect on the value of Bitcoin. Not that I agree with what they have done because it can also be a virus that will be mimicked by other cryptocurrency news services just to boost other cryptocurrencies that they like. It's wrong and somehow right especially if you are one of the Bitcoin investors too.

Now, I am waiting for the whales to dump because Bitcoin ETF is still not approved it will just be the same shit all over again. They won't be scared just yet to manipulate the market. Sorry if I am an early pleasure spoiler.

[SquirrelJulietGarden]

Hype is like a pandemic, it can easily be contagious, and I bet after the investors bought some Bitcoin they just won't stop anymore.
At least this mistake made a good effect on the value of Bitcoin. Not that I agree with what they have done because it can also be a virus that will be mimicked by other cryptocurrency news services just to boost other cryptocurrencies that they like. It's wrong and somehow right especially if you are one of the Bitcoin investors too.

People never stop reacts emotionally on the market that can not have market waves if people can control their emotion better and if everyone can control their emotion and actions perfectly, market will be very boring.

Because they can not control emotion, the psychology of market cycles still work very well for market markers and whales in any market.

Now, I am waiting for the whales to dump because Bitcoin ETF is still not approved it will just be the same shit all over again. They won't be scared just yet to manipulate the market. Sorry if I am an early pleasure spoiler.

I expect Bitcoin will have significant correction within one week or two weeks because ending week or starting week of each month is very sensitive with big movements.

[Luzin]

I follow several Telegram channels that provide news that ETFs may not be approved next year. Even through social media I read the list of Bitcoin ETF applications missing from the submission queue list. I don't know if this is true, nor have I found the official news. Maybe friends here understand more about this matter. I also discussed this issue in the local forum, maybe this is FUD.

Source:
1. https://twitter.com/MMCrypto/status/1716842011142341112?t=SFhik0KbDn1qVi53KIqenQ&s=19
2. https://twitter.com/MMCrypto/status/1716842431017316746?t=TlWyFouZkUdOc7OqIzqZjw&s=19

[rdbase]

I follow several Telegram channels that provide news that ETFs may not be approved next year. Even through social media I read the list of Bitcoin ETF applications missing from the submission queue list. I don't know if this is true, nor have I found the official news. Maybe friends here understand more about this matter. I also discussed this issue in the local forum, maybe this is FUD.

Source:
1. https://twitter.com/MMCrypto/status/1716842011142341112?t=SFhik0KbDn1qVi53KIqenQ&s=19
2. https://twitter.com/MMCrypto/status/1716842431017316746?t=TlWyFouZkUdOc7OqIzqZjw&s=19

MMCrypto is the worst source for any information.
They had it removed from your linked tweets on October 24th the BlackRock ETF, but have since added it back.
https://blockworks.co/news/blackrock-ibtc-dtcc-etf

They had it listed back in August but nobody noticed until the beginning of October. We all know why they had removed BlackRocks application: due to the commotion it has caused the price to spike. And they don't want that to happen so soon.

CryptoRUs reported on this in his last livestream about 9 hours ago:
https://www.youtube.com/watch?v=54Jk71NHAXE

I would rather listen to what George from CryptoRUs has to say rather than the guy on MMCrypto which looks to on something or has had way to much coffee right before his own livestreams. He has a wildin' look in his eyes everytime I see those video thumbnails on youtube.

You can't go by what these people who are relying solely on big institutional investors money to come in and save the day for bitcoin to surge back to $68,000. Just look at Cathy Wood, CEO of Ark Invest for example.
She is saying "bitcoin to $1,000,000!" just a week ago but now she sold when it hit $35,000 yesterday.
Bitcoin Spot ETF Ark Invest application- Paul Barron
https://www.youtube.com/watch?v=u8RBEOLa4p4

[rdbase]

Last month saw bitcoin's price surge enough for the media to tote it as Uptober.
This was the cause of speculation of the bitcoin spot ETF receiving it's approval later on this year.
https://www.coindesk.com/markets/2023/10/31/bitcoin-saw-27-october-surge-as-traders-panic-bought-amid-bitcoin-etf-enthusiasm-is-40000-next

Van Eck has a more convincing timeline of it happening early next year as the SEC just recently approved a ETH futures ETF:
https://blockworks.co/news/bitcoin-halving-etf-investors

[rdbase]

Today the SEC meeting is scheduled and bitcoin's price surged past $35.5k on the speculation they might announce an approval to one of the applications:
https://www.investing.com/news/cryptocurrency-news/crypto-markets-eye-sec-meeting-as-btcspot-etf-awaits-approval-93CH-3215101