What will SEC delay on Spot ETF approval do to Bitcoin's price?

[kentrolla]

I am not sure if all of us are aware of not as SEC has delayed their decisions on Spot ETF application but they were supposed to take the decision by now and will this delay cause any set back in price ? People were speculating that there would be a price drop before halving and that didn't happened due to ETF as it helped increasing the value and since it's been delayed now will it cause any impact for the Bitcoin price? if yes then how much would it be and will it be that way till halving?

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[Liliana1304]

I am not sure if all of us are aware of not as SEC has delayed their decisions on Spot ETF application but they were supposed to take the decision by now and will this delay cause any set back in price ? People were speculating that there would be a price drop before halving and that didn't happened due to ETF as it helped increasing the value and since it's been delayed now will it cause any impact for the Bitcoin price? if yes then how much would it be and will it be that way till halving?

I doubt that the ETFs approval being halted will change anything. It was on the news yesterday that the SEC will halt the approval due to an inadequately regulated crypto market large enough to stop manipulation and whwn this came in, the price of Bitcoin was $36,527.76 and today, it's price has $36,582.37 and if anything it has gone up instead of down.

Bitcoin has been existing long before this ETFs and to say that they contribute to its price growth will not be fair. The way I see these ETFs, they are only a temporary event that will pass so I don't think affect its price much.

[pooya87]

In my opinion the only ETF related news that can have a significant effect on the price is only an approval because that would be the first time. Otherwise, proposing an ETF, SEC delaying its decision, rejections of the proposal, etc. have happened many times before so the market is not really reacting to any of it anymore.

So even of SEC rejects it today, apart from a small number of newbies panic selling, I don't expect much else.

[Lucius]

I am not sure if all of us are aware of not as SEC has delayed their decisions on Spot ETF application but they were supposed to take the decision by now and will this delay cause any set back in price ?

The SEC has 240 days to make its final decision from the moment a company formally submits such a request and it is officially accepted. I don't know why you (and many others) think that this time should be different and that the SEC will not use its legal right to postpone the decision until the last minute?

People were speculating that there would be a price drop before halving and that didn't happened due to ETF as it helped increasing the value and since it's been delayed now will it cause any impact for the Bitcoin price? if yes then how much would it be and will it be that way till halving?

People speculate, but do they even know when the halving is and what it means before the halving? There are still at least 4+ months until the halving, and during that period anything can happen - and that includes a price change in any direction. You should not look at the current price as something that is only the result of waiting for spot ETF approval, but also as a pre-halving period in which the accumulation is increasing more and more because people who invest in Bitcoin still think that the halving will have a positive effect and result in new bull run.

[mk4]

People in general I think are betting on approval in January 2024. If it gets delayed/declined, I definitely think we're going to get a small setback due to it being delayed/declined. I think the drop will be short-lived though, due to sidelined money waiting for a decently-sized dip.

[Marvelman]

The SEC playing the waiting game, classic! Gotta love how government agencies take their sweet time. 
People were bracing for a drop before the ETF chatter bumped things up a notch.  But now? It's anybody's guess! This rollercoaster ride of hype and delays is giving me whiplash.  I just hope the powers that be don't stall too long.  These Bitcoin price swings are making me queasy.

[target]

Not going down so far. Since the holders are not dumping, then they are again betting for the approval on January. If by Jan 2024 the ETF will still be delayed, thats when the dump will happen and the  it will spike quickly.

SEC will keep our hopes up and then disappoints us just to manipulate this market.

[EarnOnVictor]

I am not sure if all of us are aware of not as SEC has delayed their decisions on Spot ETF application but they were supposed to take the decision by now and will this delay cause any set back in price ? People were speculating that there would be a price drop before halving and that didn't happened due to ETF as it helped increasing the value and since it's been delayed now will it cause any impact for the Bitcoin price? if yes then how much would it be and will it be that way till halving?

The summary answer to all your questions is that the delay will not have any substantial and sustainable effect on Bitcoin. As we can see, Bitcoin has been hovering between the tight bound range of about $38,000 and $37,700 lately, and it wouldn't even matter if it breaches such a range as normal market trading without ETF could still achieve that judging by the volatility effect already created in the market. This conclusion is because this delay is not just an unknown one, people were ready and were aware that the initial filing window starts from Nov. 09 to Nov.17 which was on Friday. There are anticipations but the nerves have been cooled down since there is another option for January where the fate of this ETF would be ascertained. I don't expect the market to continue to move haphazardly in such a neutral tone condition.

Personally, I do not expect so much again on the ETF events in relation to the price movements even when approved, I believe it has served its purpose to have hiked the price and has already priced in. I've experienced such in the market where news and rumours would be more powerful than the actual events, so I don't think a different condition will play out here even if it's eventually approved.

Regardless, it might be disastrous to Bitcoin for more than a month if they disapprove of it.

[cryptomaniac_xxx]

I am not sure if all of us are aware of not as SEC has delayed their decisions on Spot ETF application but they were supposed to take the decision by now and will this delay cause any set back in price ? People were speculating that there would be a price drop before halving and that didn't happened due to ETF as it helped increasing the value and since it's been delayed now will it cause any impact for the Bitcoin price? if yes then how much would it be and will it be that way till halving?

I don't see any negative impact though in the price, we are still in highs of $36k->$37k. As for the delay of their decision, we can only speculate that they might have been looking at the proposal more closely, because they know that their decision will be huge as this will set a precent as many big entities are also applying for it. So they will have to decide which one will go first. If there is a price down before halving, then so be it, we can't really stop that from happening. And remember that technically we are still in the bear market so prices might go down. And just think about it, if the approval came after the block halving, then it will be huge for the market as everyone is seeing like a conservative $100k as the price of bitcoin for the next bull run in 2024-2025. So we need more patience and wait for the decision of SEC in this matter.

[Baofeng]

I am not sure if all of us are aware of not as SEC has delayed their decisions on Spot ETF application but they were supposed to take the decision by now and will this delay cause any set back in price ? People were speculating that there would be a price drop before halving and that didn't happened due to ETF as it helped increasing the value and since it's been delayed now will it cause any impact for the Bitcoin price? if yes then how much would it be and will it be that way till halving?

Isn't it there is a schedule though? so I'm not sure what you meant by SEC delaying their decision. And it's only 1 application that they have delayed and that is the Global X, here is the official documents,

https://www.sec.gov/files/rules/sro/cboebzx/2023/34-98981.pdf

And as what others have pointed out, the price looks strong despite this negative news, meaning investors might have been expecting this. But most likely next year there is no stopping for a Bitcoin Spot ETF approval by the SEC. The best thing to do is just have to wait, we can force SEC to approved it right away.

As per the document, they have a rule that covers postponed regarding their decision, so it's within their power to do that.

[lombok]

Even without an ETF, Bitcoin will still rise, a natural correction may occur if there is a delay in the decision. Why are we too focused on ETFs, whether ETFs are accepted or not is also not very urgent for Bitcoin. What matters is adoption and real usability. This is very important for Bitcoin's fundamentals, yes I would say that ETFs are just a bonus.

[AmoreJaz]

Even without an ETF, Bitcoin will still rise, a natural correction may occur if there is a delay in the decision. Why are we too focused on ETFs, whether ETFs are accepted or not is also not very urgent for Bitcoin. What matters is adoption and real usability. This is very important for Bitcoin's fundamentals, yes I would say that ETFs are just a bonus.

that is true, we have seen in the past years, with approval or not, btc will continue to thrive. sure, approval of btc ETF may influence the market but it is by no means the only reason why BTC will improve its price in the market. so even if they delay the approval, it doesn't matter anymore.
it may contribute to further adoption but one should not wait for the approval before accumulating some satoshis. because with or without ETF, we are continuously improving in terms of adoption.

[lombok]

Even without an ETF, Bitcoin will still rise, a natural correction may occur if there is a delay in the decision. Why are we too focused on ETFs, whether ETFs are accepted or not is also not very urgent for Bitcoin. What matters is adoption and real usability. This is very important for Bitcoin's fundamentals, yes I would say that ETFs are just a bonus.

that is true, we have seen in the past years, with approval or not, btc will continue to thrive. sure, approval of btc ETF may influence the market but it is by no means the only reason why BTC will improve its price in the market. so even if they delay the approval, it doesn't matter anymore.

Clearly, Bitcoin prices rose due to the halving event. This is history repeating itself, with historical evidence that already exists from several previous halvings. Every time a halving occurs, Bitcoin will experience bullishness and print the latest ATH from halving to halving. ETFs are just fuel to hype BTC, take the example of yesterday's Blackrock ETF which in fact was also fake news, used as manipulation. I think the ETF news is also part of the manipulation carried out by the US, we know that the US has large amounts of BTC too, the result of confiscations in the Crypto Business.

[Text]

I am not sure if all of us are aware of not as SEC has delayed their decisions on Spot ETF application but they were supposed to take the decision by now and will this delay cause any set back in price ? People were speculating that there would be a price drop before halving and that didn't happened due to ETF as it helped increasing the value and since it's been delayed now will it cause any impact for the Bitcoin price? if yes then how much would it be and will it be that way till halving?

The SEC’s decision to delay the approval of a spot Bitcoin ETF has caused some concern among investors. When the SEC announced the delay, Bitcoin’s price fell by 5%. However, it’s difficult to predict how much of an impact the delay will have on Bitcoin’s price in the long run. Some analysts believe that the delay could lead to a further decline in Bitcoin’s price, while others believe that the market has already priced in the delay. It’s worth noting that the SEC has delayed the approval of other Bitcoin ETFs as well, including those from BlackRock and Fidelity. As for whether the delay will continue until the halving, it’s impossible to say for sure.

https://www.coindesk.com/markets/2023/10/18/spot-bitcoin-etf-approval-is-coming-but-analysts-differ-on-possible-price-reaction
https://cointelegraph.com/news/bitcoin-price-drops-as-sec-delays-decision-on-bitcoin-etf-offering-new-trading-opportunities

[hatshepsut93]

The price would immediately drop by $2-3k or even a bit more, and weeks after that there will be stagnation, but other than that there will not be much long-term effects. Halvening will still happen and will greatly impact the market, and once the price will start growing the crypto media will find some new hype narrative to explain the growth and boost the sentiment. That's how it always worked and will likely work again. During covid there was a huge crash, and then Bitcoin quickly recovered and returned to the normal course as if nothing happened.

[poodle63]

well the price just stagnates, there's definitely no market movement until the news about the decision of spot ETF finally appearing, so many people are anticipating it, everyone is waiting for the news so that they can be sure they are doing the right decision.
after all the sudden price fall of 5% is it truly significant? since right now price are already recovering. but im expecting the market to be instead still growing slowly even if the approval getting delayed.
after all the market sentiment has changed, right now we are in state of bullish even though I don't know for sure whether its truly start of bullish or just gonna outright went to bearish the next month we don't know for sure, only news about approval of ETF could be good news that gonna change entire landscapes.

[YUriy1991]

People in general I think are betting on approval in January 2024. If it gets delayed/declined, I definitely think we're going to get a small setback due to it being delayed/declined. I think the drop will be short-lived though, due to sidelined money waiting for a decently-sized dip.

But there is still a positive side to that Bitcoin futures and Exchange-Traded Funds (ETFs) easing uncertainty and creating a sense of confidence among crypto-skeptical investors. I believe Bitcoin futures and ETFs will finally put the naysayers to rest and legitimize and validate Bitcoin as a has value and as a digital currency. If not Yes. It is inevitable that this decline will only occur in a short time as you say and that makes perfect sense.

[adaseb]

For the past few months, ever since Blackrock announced their bitcoin etf, these delays have done nothing to the price. They get delayed and you look at the charts and it’s not trading down.

Pretty sure everyone knows it will get delayed until the last iteration where it will be the ultimate rejection or approval. Prior to this and these delays don’t make a difference for the market.

[GreatArkansas]

Most of the deadlines for ETF are in next year. Then the final decision is on next year. And it is just a coincidence Bitcoin block halving will also happen next year.
For me, even there will be delays as long as the final decisions will happen next year there will be no price effects at all, as long as the decision will not happen in the final deadline.

[danherbias07]

No, I don't think so. There is a building FOMO in the air and that will be the one reason why lesser investors would dare sell their Bitcoin.
The delay being done by the SEC is just telling investors that it will happen, but the date is not accurate yet. So, if there's a chance to buy at a cheaper price then investors would take advantage of that. Right now, everybody is just waiting but I don't think Bitcoin would be dumped anytime. Might as well swallow the reality that this could be the new bottom and whatever price range we are thinking of purchasing is expired.
The demand might just keep on going up as we get near that approval by the SEC of all the applicants of the Spot ETF. I think in January 2024, there will be one that will be approved and the market will go crazy again.