Bitstamp tested $1298 some hours ago. Interestingly for some reason, it's higher than the Bitfinex peak at $1294 (bitfinex always has the higher price for some reason)
In any case, looks like we will test the barrier again, we'll see what happens.
if ETF will receive a negative response probably we can see again a value below 1000$, and I don't get surprised if price start to climb some days before SEC reply.
I hope a bad news doesn't lead to a large dump... it means we can forget another pump for at least a couple of years.
Bad news
always leads to a large dump! You would think people would be sensible and take small profits on the way up, so they have enough banked not to panic when bad news comes out, but lots of speculators go all in, hold to the last moment, and then panic sell at the slightest problem because they've created too much stress for themselves.
Indeed, Bad news always lead to dump, the worst thing is, manipulator will try to take advantage of the scenario spreading more FUD and I think they will capitalize on the scalability issue to tandem the ETF rejection. Then follow by them selling their own Bitcoin to their own buy order making it look like that someone is dumping and then weak hand follow. Though I hope that ETF be approved to break $1300 easily and move forward to $1500 before the end of the semeter