Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: CryptoYears on August 09, 2018, 09:12:37 PM
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How much impact is SEC decision with the delay is going to impact the market? I think it is obvious that the sudden impact is HUGE and is very much in the notice to many for seeing, but how will this impact in the long term?
I think it will ease out in the next few weeks. It is pretty much the trend of the Crypto markets, as they run fast on any such news but are equally fast in recovering from the thing. What do you guys believe with this decision https://www.asiacryptotoday.com/bitcoin-etf-do-we-really-need-it/
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It was unfortunate, especially as crypto markets take news with even the slightest negative connotation as the 'end of the world'. I can see the markets recovering over the next six weeks, probably having quite a decent run up until the postponed deadline. The it's D-Day, if it doesn't go through or gets postponed again, I'm pretty sure the bottom will fall out; but if the news is positive, then we could potentially see the start of a bull run. I guess we'll have to wait and see.
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I believe it is just their strategy to keep the price of bitcoin low. With the rally in the past few days, some who bought at the recent bottom would be able to profit already and we know that this market is full of manipulation that's why we should always secure our profits as much as possible. The delay may be planned and maybe with the disappointment of the people, they would further push it down when they reject the ETF and approve it anyway later on.
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The SEC decision ruling in favor of BTC for ETFs would have a MASSIVE effect on the price. Bitcoin would likely never be this low ever again for a decade.
If they rule against BTC for ETFs, it'll probably negatively impact bitcoin for a while and then things would continue on as normal. Bitcoin still works for what it is, but ETF would funnel so much more money into it it just couldn't stay as low as it is. Price manipulation would probably be cut down a lot as well, as whales would have a smaller percentage with which to manipulate the markets.