Bitcoin ETF Officially Approved

[MVL~$]

ETFs endorsing Bitcoin may increase the value of Bitcoin somewhat. It is a happy news that Bitcoin has been approved by ETF. However, I am a bit skeptical about whether this will increase the value of Bitcoin in the long run or whether it will have a short-term impact on the price increase. What are your ideas?

[Z-tight]

I am a bit skeptical about whether this will increase the value of Bitcoin in the long run or whether it will have a short-term impact on the price increase. What are your ideas?

No need to speculate anymore, now it has been approved and we would experience what the impact would be, it could be in the short term or in the long term, i have no idea. Some people are already raising eyebrows today, that BTC hasn't pumped as they had expected, i think it is too early to be sure what will happen, we need to monitor the market and see how it moves in the next few weeks.

[defy]

finally after all the speculation, hype and false positives its real. the big boys have entered the bitcoin market.

should we be afraid or should we celebrate?

Yes, that is the good question we might be dealing in the coming days...whether the approval of Bitcoin ETFs will be good for Bitcoin and the whole crypto industry or will it be a catalyst for something else? Anyway, for now, maybe let's us first celebrate though I find it a little bit concerning that BTC price seems to be not so excited for this BIG news. In the next few days, we can clearly see where the market is headed in response to this new development.

I would say there is a bit of market manipulation going on ATM, we had a rise and then a fall which would suggest a clearing out of some long positions.

[Primo1760]

ETFs endorsing Bitcoin may increase the value of Bitcoin somewhat. It is a happy news that Bitcoin has been approved by ETF. However, I am a bit skeptical about whether this will increase the value of Bitcoin in the long run or whether it will have a short-term impact on the price increase. What are your ideas?

The market was highly buoyed by the approval of Bitcoin ETFs. We saw the market go from $44k to $48969 as the Bitcoin ETF was approved. But the price has come down a bit. Even if the price drops a bit, we may soon see an increase in the price of Bitcoin. Also, since we don't have much time left until the Bitcoin halving, we can rest assured that Bitcoin will grow.

[yhiaali3]

Finally, the long-awaited event by the Bitcoin community, everyone was waiting for this approval and the big positive results it will have on the market.

Of course, it is expected that the positive effect will begin to appear and cause successive waves of rise in the price of Bitcoin, but what concerns me more than the rise in price is the imposition of a fait accompli and recognition by the American government that is most hostile to Bitcoin.

This approval is an implicit recognition of Bitcoin by the US government. Bitcoin has become an integral part of the global economy and no one can ignore it anymore.

[dwyane36]

Finally, the long-awaited event by the Bitcoin community, everyone was waiting for this approval and the big positive results it will have on the market.

Of course, it is expected that the positive effect will begin to appear and cause successive waves of rise in the price of Bitcoin, but what concerns me more than the rise in price is the imposition of a fait accompli and recognition by the American government that is most hostile to Bitcoin.

This approval is an implicit recognition of Bitcoin by the US government. Bitcoin has become an integral part of the global economy and no one can ignore it anymore.

I would say that only Gensler (SEC chairman) is hostile to Bitcoin and all cryptocurrencies, not the entire US government. As far as I know, he is not liked even in Congress, at least there was news last year that some congressmen want to fire him from this position.
Honestly, I think the US could have been a crypto hub and an attractive jurisdiction for many cryptocurrency companies long ago if Gensler hadn't been so weird.

[Mehedi72]

This is a milestone for bitcoin, which create a new history in crypto market. Undoubtedly its a matter of happiness for cryoto lovers specially for them who hold a certain amount of bitcoin. And btc price really makes wonder among people, it is about to cross $50000 even bull is still far away. So maybe this year Bitcoin will write another history by doing another all time high record. but thus transaction fee will aslo increase

[Gladitorcomeback]

Finally, after much speculation, imagination and drama, Bitcoin has been officially approved. At the moment the Bitcoin market is hovering around $47335. We will see Bitcoin price close to $50,000 very soon. The news of Bitcoin ETF approval is really good. How do you feel about your opinion?

Whales played a very good game with risky players. Everyone was bullish for ETF News and after SEC confirmation future lovers opened long position and this was a time whales for looking for it. exchanges becomes the real winner in this game by liquidating many traders.

BTC is still trading in same rate where it was before ETF news. It is possible that in few days we might see a very good pump in btc price but still couldn't say anything as most of whales and exchanges are now manipulating the price.

ETF is good for btc adoption as it will open the door to the users to buy btc who only trust ETF. For global adoption I think it is very good

[Senin]

Finally, the long-awaited event by the Bitcoin community, everyone was waiting for this approval and the big positive results it will have on the market.

Of course, it is expected that the positive effect will begin to appear and cause successive waves of rise in the price of Bitcoin, but what concerns me more than the rise in price is the imposition of a fait accompli and recognition by the American government that is most hostile to Bitcoin.

This approval is an implicit recognition of Bitcoin by the US government. Bitcoin has become an integral part of the global economy and no one can ignore it anymore.

This is not yet recognition of Bitcoin by the US government. The first application for a spot ETF, filed with the SEC back in 2013 by the Winklevoss brothers, was rejected in 2017. Despite the passage of time, the SEC's views on the nature of digital assets have not changed at all. Here's the statement he made with yesterday's approval of exchange-traded funds:

“...Bitcoin is primarily a speculative, volatile asset that is also used for illegal activities, including ransomware, money laundering, sanctions evasion and terrorist financing. Today we approved the listing and trading of certain shares of the bitcoin spot ETP, but we did not approve bitcoin."

The general message of the statement is that the SEC would have continued to prevent the emergence of an investment product if not for the judges’ peculiar interpretation of the securities law. A further waiver was no longer possible following the appeals panel's decision in favor of Grayscale in a case involving the conversion of a trust fund into a spot ETF.

[yhiaali3]

This is not yet recognition of Bitcoin by the US government. The first application for a spot ETF, filed with the SEC back in 2013 by the Winklevoss brothers, was rejected in 2017. Despite the passage of time, the SEC's views on the nature of digital assets have not changed at all. Here's the statement he made with yesterday's approval of exchange-traded funds:

“...Bitcoin is primarily a speculative, volatile asset that is also used for illegal activities, including ransomware, money laundering, sanctions evasion and terrorist financing. Today we approved the listing and trading of certain shares of the bitcoin spot ETP, but we did not approve bitcoin."

The general message of the statement is that the SEC would have continued to prevent the emergence of an investment product if not for the judges’ peculiar interpretation of the securities law. A further waiver was no longer possible following the appeals panel's decision in favor of Grayscale in a case involving the conversion of a trust fund into a spot ETF.

Yes, I know this completely, and I know that they did not accept Bitcoin as a currency, simply because Bitcoin, in its nature, violates the basic principle upon which all governments are based, I mean centralization and control.

Therefore, I said that this approval is an implicit recognition of Bitcoin, because they never accepted Bitcoin as a currency, but they were forced to recognize Bitcoin by virtue of a de facto policy. I mean, Bitcoin exists on the ground and people use it in secret and in public, and this can no longer be ignored any longer.

[vegasus]

Maybe you could say that the movement of Bitcoin in the market after the Bitcoin ETF was approved was very surprising and perhaps was not expected to be like this. We can see that the price of Bitcoin is actually falling further and is currently only below $42k. As I said, maybe this is just a police shower so that some parties can take advantage of it to get a lower price and then pump the price of Bitcoin later. or indeed because the Bitcoin ETF does not have much influence on the price of Bitcoin. Because after all there are still bad rumors regarding the results of the Bitcoin ETF.

[shuvenker999]

This is definitely good news - but a bit strange, of cource because I see a price correction in bitcoin at the moment. This may not be normal as bitcoin ETFs should be able to bring more money into the market which then causes prices to increase drastically - but it may take some time for this news to be confirmed. If this news is true - then I think the market is really going to party in the next little while. Let's wait and see how he reacts.

[sampoerna]

I would say there is a bit of market manipulation going on ATM, we had a rise and then a fall which would suggest a clearing out of some long positions.

I would also think about that.
How could it not be, after the Bitcoin ETF approval, the market rose only briefly and after that it really slammed down and fell drastically. Even smaller than the price before the ETF. Yes, indeed the ETF euphoria was greater before the event itself and after it was very dim and in the end this time the market was still struggling quite hard. I don't know if this is really manipulation so that the whales can actually take more BTC beforehand. pump or not.

[alltalk]

ETFs endorsing Bitcoin may increase the value of Bitcoin somewhat. It is a happy news that Bitcoin has been approved by ETF. However, I am a bit skeptical about whether this will increase the value of Bitcoin in the long run or whether it will have a short-term impact on the price increase.

No doubt that the good news from Bitcoin ETF approval will bring positive impact on the value of Bitcoin for the long run. But for the short time, it may increase quickly and then will drop again. We can see the current market trend, Bitcoin price is dropping to $41k - $42k just after it passed $48k. Not sure whether it is a market manipulation or not, but it is real that Bitcoin price dropped suddenly after it reached a new high rate.

[naira]

That's fantastic news about the official approval of the Bitcoin ETF! It's been a long-awaited development in the crypto world, and it's great to see it finally happening. With Bitcoin's market hovering around $47,335 and the potential for it to reach $50,000, it's an exciting time for crypto enthusiasts.

In fact, what is happening now is that we are in a market condition where most disposals are carried out by whales who are waiting for approval. Bitcoin is now around $42K if you look at the sharp drop in statistics after the Bitcoin ETF announcement. I think the significant movement will be more promising at the time of the halving, people who expected Bitcoin adoption at the ETF approval did not live up to expectations. They wanted a bullish high but we didn't break $45K. This means that the existing institutions are still in planning and have not moved at all apart from waiting for panic sales from people due to the negative news out there.